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Pension providers broke rules on advertising

PRIVATE pension companies had spent more than Sk550 million (€14 million) on advertising by the end of November 2004.

Nearly half of this sum had been spent before the advertising campaigns were officially allowed to get off the ground (according to government legislation), on November 1 2004, wrote the daily SME.

Data collected by market research agency TNS SK, shows that the pension providers spent around Sk 220 million (€5.6 million) on their advertising campaigns before November 1.

The sum of Sk 550 million is by no means final. Advertising and marketing experts predict that the campaign will double its advertising in the next few months.

"A huge part of the advertising campaigns of these firms was spent right at the start, to get into people’s minds," said Vojtech Dencso of TNS SK.

Compiled by Magdalena MacLeod from press reports
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