When I was a kid growing up in a very white part of Britain, I was fascinated by a guy called Joseph Hill who was predicting a calamity on the 7th July 1977 which pretty well brought to Jamaica to a standstill on the day. He’d started a band called Culture which produced the excellent  Two Seven Clash album and then was heard of no more.

I didn’t get that kind of paranoia again till December 31st 1999 when I spent much of the day worrying like Chicken Licken whether the sky was going to fall on my head. Standing on Vauxhall Bridge at 0:01 Jan 1 2000, I watched a non-existent river of fire with one eye cocked for the predicted carnage as computer systems shut down London.

It didn’t happen, nor will the meltdown predicted by some when we require companies to enrol their staff over the next few year. Ok – a lame link but I’m done with scaremongering and if that sounds complacent – I’m done with paranoia too.

Instead of problems, my imagination takes me to a different place. IT’s a place where people look forward to retiring with confidence knowing that they are planning effectively for their later years.

A time when:-

1. The average charges on DC accumulation are cut in half (0.5% is the new 1%)
2. 100% of those eligible for enhanced annuities through sub-optimal host get their proper rate
3. Seals are no longer clubbed and all DC pensions benefit from the open market option
4. The option to buy a scheme pension is available to all – not just the pensions rich 
5. Companies are able to support  a variety of workplace schemes including NEST– concurrently
6. People are able to talk with their pension providers as they chose – online and via the device or their choice
7. IFAs recommend for their money – and not just collect application forms
8. The current DWP regs for certification are simplified and replaced by a common standard for contributions
9.  People chose to spend on their retirement rather than save for a pension
10. We return to  a period where the nation feels good about how it plans for later life

Which is a rather different view of the world!

Related articles

• The case for doing nothing (henrytapper.com)
• Accounts and accountability-who pays for NESTCorp? (henrytapper.com)
• Annuities explained (confused.com)
• Why a £1m pensions lottery could make saving for retirement more fun (confused.com)
• “Buying a Retirement Income” from an RIP (henrytapper.com)
• Buy now while IFAs last? (henrytapper.com)
• Video Fridays: The Clash (fishandbicycles.com)