CPF Board hands Formul8 integrated marketing account

Central Provident Fund Board (CPFB) has appointed Formul8 as its agency partner to provide integrated marketing and creative services. The agency will aid CPFB’s goal to make retirement planning top-of-mind with those in the middle-life segment.Formul8 will work to create more positive associations with CPFB and take its ongoing Big ‘R’ Chat campaign into its third phase – which is planned for launch in mid-June 2017. The third phase is also foreseen to be an ongoing effort that requires a stretch beyond just one mass publicity campaign.The government board added that shortlisted tenderers who were not appointed will be paid pitch fees for their proposals.This follows a highly praised tender which was launched in January, where the CPFB stated it would pay an honorarium of SG$3,000 to up to five tenderers shortlisted for the second stage of its selection process. This was seen by Marketing in a brief sent out to various agencies.“By providing the shortlisted agencies with the pitch fee, it can help to offset the time and costs incurred for the submission of design concepts including detailed sketches,” a CPFB spokesperson said that the time the tender was launched. The move was praised by industry players, which agreed that the move recognised the effort and investment put in by agencies into their pitches.