Torsten Bell has pointed out that people don’t have a high view of pensions and by extension the people who run them. Richard Smith and Torsten (and me) have something in common here.
In his latest VFM podcast, Nico points out that people don’t like banks and insurance companies which I don’t think lets us pension bods from considering ourselves disliked.
Richard Smith , having followed Torsten Bell’s drift had this to say..
here are Richard’s comment and another
Richard Smith
* In 2025, the Standard Life plc Centre for the Future of Retirement commissioned Community Research Ltd to recruit 30 members of the public to take part in a deliberative consumer panel – read their full report: https://library.standardlife.co.uk/better-help-better-outcomes-full-report.pdf
5 short, consumer-focused, video gifts to Pensions UK:
“What people will love most”
https://lnkd.in/p/eKtJbFAX
“Already loads of media noise”
https://lnkd.in/p/e9WYS5gf
“What is the change cycle?”
https://lnkd.in/p/eSn6y2Bs
“Hope because GR is coming”
https://lnkd.in/p/eHA7vpGb
“Dashboard adverts on trains”
https://lnkd.in/p/epA_NiZ5
Full Pension PlayPen Online Coffee Morning available to rewatch on YouTube here: https://lnkd.in/p/eQ-5Ka_M
Georgie Edwards
I agree Richard Smith ;confidence in many products is driven by how we feel about them. Perception is so powerful, which is why we must make our services accessible throughout membership, not only during the Bridging Years between work and beyond.
My comment is that private pensions should aspire to what the state pension achieves. It should be something that tells you what you are getting, allows you to pay in some more to make up for shortfalls and which pays out without any fuss or bother.
Perception is so powerful, if we can’t understand the promises that are made for the money we pay, it’s not surprising we and our “products” aren’t trusted.