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People won&#39t buy without persuasion

So, the waiting is over. The biggest problem facing the UK in the new century and after waiting for a year with bated breath, the two masterminds have come up with their solutions on how we are all going to save significantly more.

There must be rejoicing in the streets – hurrah, hurrah, we are to get decent pensions at last, cry the people. But what? The emperor&#39s new clothes,you say?

Sssshhhhh, this is the work of two greats of our time. They have spent millions and used forests to come up with these earth-shattering solutions:

1: Reduce the benefits in occupational pension schemes. Hmmmm.

2: Introduce more stakeholder-type plans so that people can just go and buy them.

Sounds familiar that, didn&#39t we try that one before? Did it not work? That&#39s right, it failed miserably, didn&#39t it.

What an absolute waste of time, effort and money this has been. Even consumers with very little knowledge of our industry know that someone (an adviser perhaps?) needs to encourage, convince, dare I say sell the idea of saving for the future, otherwise the consumer will not do it.

To get someone (that is, an adviser) to do this, they need to be remunerated (which these so-called experts think is the problem – it isn&#39t).

People do not buy products without persuasion because they live for today and put off tomorrow.

Mr Sandler – it will not work. Just like gravity makes the apple fall, and the world is round, people do not buy “sold products”. Is anyone out there listening before it is too late?

David Kitchen

Chief executive

Lifeboat Financial Group,



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