|
|
MyCompanyPension.co.uk - Helping members of occupational pension schemes to better understand their benefits.
|
|
|
|
:: Blog | March 2009 (10 blogs) | A pension paradox?
|
|
Just a short note to say I really appreciate your daily updates; these are really useful in terms of collating all pension related news.
Paul Smith, Account Support Executive,
The Pensions Trust
|
|
Enjoy these News Updates? Send us a comment and you could appear above. Include your name, title and organisation (if applicable).
|
MyCompanyPension is not responsible for external links or websites, or the content or material that they may display.
Some pages may have been updated since they first appeared, whilst others may have had titles changed by the host publication or website.
|
| |
|
|
There was more than a hint of a paradox between two news items recently. The first article was from the CII Thinkpiece about financial inclusion for the over 50s. This was aimed squarely at the financial services sector and how product and service providers could widen their markets by diversification and specific targeting. Jane Vass, the author, says:
‘The (financial services) industry might take its cues from the commercial sector, where manufacturers such as Fiat have found that, by ensuring that product design accommodates the needs of people with particular difficulties – for example problems getting in and out of a car or reading a display - they can extend their market to previously excluded groups, or those with temporary difficulties such as illness.’
I mentioned the potential paradox, because of the second story: news that Life Trust has closed to new business after launching just a year ago. If you don’t know, Life Trust’s target market was aimed at boosting incomes for people with a longer life expectancy. Their launch product, the Longevity Income Plan ‘…invested a lump sum (for people) during their 60s and 70s which started to pay out if they lived longer than the average 80 to 82.’
I attended one of their launch days in London and I have to say that I thought the idea was clever and innovative. However, it serves to demonstrate that you can target a market all you like – but circumstances beyond your control (in Life Trust’s example, they quoted ‘…a very deep recession of unknown duration’) can sometimes turn against you. See:
|
|
Mike Jones, MyCompanyPension.co.uk Ltd, March 4th 2009
|
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
| |
|
|
(5 pages)