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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.”


Genuine article

I have been around the structured products world for over 15 years. There was a period, after precipice bonds, when providers retreated into their short heritage to become not structured product providers but purveyors of guaranteed equity bonds, almost all exclusively based on the FTSE 100 index.

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Treasury select committee chairman John McFall welcomes the change in direction by the retail distribution review and reveals that the select committee is likely to hold an inquiry into the RDR this summer.


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