Muted response from employers to Lord Mayor’s ‘value pledge’
AgeWage and Pension PlayPen are pleased to put a sticky note at the bottom of the big board that the Lord Mayor showed at the sexy Merchant Taylor’s Hall.
Just saying that we weren’t asked but if we had been, we’d have liked someone investing in up as a scale up. We’ve got a job to do, to get some value for money into pensions and we don’t mean “pots”.
The Corporate Adviser – the one above – tells you that the firms getting some free publicity want their employees to pay more in charges. We were told that paying more would pay off with higher pots like we were in some duck race where our duck would come out the other side of the bridge ahead of the cheap duck.
I wanted to get up in the posh hall we were in and remind people what it’s like to face not having any money coming in from work and having to live off a pot. The expensive rubber duck looks like this
Well you can see where I am coming, there is a lot of sexy hall here and a lot of sexy slides full of logos of the kind of companies who talk about pensions a lot.
The sticky note that AgeWage and Pension PlayPen pin is the one that asks that instead of giving your favorite PLSA PENSIONS UK customers a big up, can the Corporation of London recognise that most companies haven’t any interest in the kind of things that CISI are interested in because they are running their businesses. The companies who chose not to sign up to the deal – to pay more for something that is likely to give a bigger pot – were not (I bet) in the hall. This is a crazy farce of pension vanity that I’m afraid is a sideshow. People are still being sold what the previous mayor to King – Mayor Mainelli,- the biggest lie in finance – the DC pension.
Engagement – what?
This rubbish vanity is rivalled elsewhere on the social site – Linked in. This time it is Quietroom with the concept of attention deficit
People do not need Targeted support to cure their attention deficit, they should be left alone to have a pension and not be confused by drawdown and other craziness.
Of course, like the clever people who know that paying more for investments can mean more wealth, so the communicators want us to point out they can improve drawdown by encouraging people to pay attention to the management of cashflows.
Can we stop this non-stop vanity?
I cannot open linked in without people talking about pensions as if they were pots of wealth to be drawn down with the help of Targeted Support from some financial services provider or another.
This is the vanity of the DC “pension” industry, they are obsessed by everything except paying pensions.
Muted responses from millions of employers round the country who never speak to the Strategic Engagement and Operations Director of the City of London Corporation who is concerned we are not paying enough in charges.
From a man who’s linked in profile tells us “I help people ‘get’ their pension” but wants to help them to a drawdown (what’s that?).
Muted responses from millions of employers who have been paying into workplace pensions only to be told their staff have pension attention deficit because they haven’t learned to do “drawdown”.