Dear Government Pensions Research People,
There is one very big reason you are overlooking, as to why people are not putting aside money into a pension.
No one trusts the pension funds to not be mis-managed, mis-sold or otherwise messed up!
Why do you seem unable to spot this blindingly obvious problem?
Until you restore that trust, people of all ages are not going to put money into funds they don’t trust. It’s very simple really.
Having those middle aged banker types continuously saying people are unprepared is not going to help. The black hole in the pension funds is there because you (and by you I mean the finance sector) offer financial wisdom which most sane people know to ignore.
“Buy Pensions” (so you can pay back the pension funds you mis-managed?)
“Buy an Endowment mortgage” (Historical, but still your fault mr finance man)
“Buy shares” (Anyone else noticed how “reccomendations” would manly end up losing you money… you have? See Mr Finance man, we’re not thick.)
How many more examples do you want?
My money is going towards building me a business and a property portfolio, so I can look after it myself… not pay some city type who spends his lunch times swigging overpriced champagne.
If I mess up and have to work till I’m 80, so be it.
Mr Luke Williams Bsc Dip SLC
Ahhhhh feel better now, ta.
As always a strong and controversial view Mr Williams. Working in the financial sector, I beg to differ though. Wooow. Do you see what you’ve done there? You’re the first person who as actual made me feel a little bit passionate about my job. Don’t worry though, wont bore you with my views on that topic. I’ll save it for my own blog.
still waiting…. 😀