Alistair McQueen – “we have work to do”.

Alistair’s slide picks at the latest stats from the Office of National Statistics.

This massive inequalities are that the bulk of saving activity leads to barren outcomes while pension wealth is concentrated in the hands of an elite 10% whose outcomes are fruitful.

Yesterday I wrote about how we have to live with error and today I have to accept that we have to live with savings inequality.

Alistair doesn’t soften the message by pointing to gender inequality (which is real but is less pronounced  in the context of household savings).  The self-employed (other than the minority of professional partners) have no “other half” and the minority ethnic groups continue to be of no interest to mainstream financial services (see NOW/Uber).

I don’t believe we need another pensions commission but if we had one, I’d put the issue of inequality at the heart of the inquiry.

This is a short blog as I am on my boat and have to clear up after a wet night and the prospect of a wet day on the river.

But I’d like to thank Alistair for producing this slide and for reminding us , that financial services is not just for the 10% it currently serves, it must reach further.

About henry tapper

Founder of the Pension PlayPen,, partner of Stella, father of Olly . I am the Pension Plowman
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