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Reid wants Weight Watchers for pension investors

A pension education advisory service modelled on Weight Watchers could help the public to save properly for retirement, says Syndaxi Financial Planning managing director Robert Reid.

Reid told the Money Marketing Retirement Summit in Monte Carlo last week that weekly or monthly forums at town halls could allow the public to ask advisers and other experts about retirement saving.

He called for the FSA to pilot a scheme and said education in schools is not the way to solve the gap in pension knowledge. He said: “People feel isolated and that they are the only one who is struggling. If you allow them to talk to each other in a group environment, it would increase confidence.”

Hargreaves Lansdown head of pensions research Tom McPhail said: “These kind of services are out there already. Specialised companies do this sort of thing.”

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