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Couch potato culture threatens stakeholder

The average UK family are couch potatoes when it comes to planning for their financial future, according to a survey by Comdirect.

The financial website found that only two out of five people spend any time thinking about pensions and investments while 99 per cent are glued to their TV at some time during the day.

Comdirect believes the findings are particularly imp-ortant at a time when it sees the Government pumping millions of pounds into a high-profile stakeholder pension ad campaign which aims to raise awareness about the need to save for the future.

Comdirect asked a sample of 1,000 people what they spent their time doing when they are not at work.

Only 42 per cent said they spent any time on financial considerations such as investment planning while 57 per cent said they watched more than 14 hours of TV a week. Comdirect believes this couch potato culture will dampen the take-up of stakeholder.

Comdirect believes this means personal welfare messages from the industry are not getting through and that financial institutions have to do more to communicate the benefits of investing money.

It found that many people have long working hours and are put off by having to spend time searching for the best investment deal.

Managing director John Glendinning says: “At this time of year, the financial services industry seems to assault the public with a barrage of advertising promoting savings and investment products.

“However, it is clear from our research that a stagg-eringly large proportion of the public remain comfortably numb over the need to invest money for the future.”

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