Pension buyers prefer to be advised in person

Article Abstract:

When faced with having to make a decision about their pensions, nearly 70% of people opt for one-to-one advice. Other findings in a recent survey of attitudes to pensions by Nationwide Building Society are that 34% of people would go to a financial adviser for advice and only 3% of respondents preferred to pay their contributions as part of a regular visit to the supermarket. A stronger preference for personal pensions rather than company pensions was shown by people in the 18 to 24 age group. Overall only 7% of adults would rely on a state pension. The survey, which involved 968 respondents, suggests that advertising is not a major influence, as only 6% thought advertising would be the most important influence on their decision.

Comment:

Finland: When faced with having to make a decision about their pensions, nearly 70% of people opt for one-to-one advice

Marketing procedures

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IFAs to continue their domination

Article Abstract:

Investment in customer and product development, as well as in new technology is helping independent financial advisers (IFAs) to continue their dominance of life insurance and pensions sales in Europe. IFAs accounted for 46% of the market by the end of 1997, up from 40% in 1992, according to a report from Datamonitor, European Life Insurance & Pensions Distribution. While bancassurers have gained ground in many parts of Europe, they have failed to make an impact in the UK, Ireland and Switzerland.

Comment:

Europe: Investment in customer helps independent financial advisers to continue dominance of life insurance & pensions sales

Europe, Market information - general, Life Insurance, Direct Life Insurance Carriers

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Printers' pension scheme is held up as stakeholder model

Article Abstract:

Industry and union analysts claim the Printing Industry Pension Scheme could illustrate how the gateway idea for the proposed stakeholder pension could work. They said it could be a model for affinity groups looking to offer stakeholder pensions. Pips targets employees in the printing industry who have no pension. The scheme allows a person who is a member to continue to make pension provision if they change jobs or work outside the industry.

Comment:

Finland: Union analysts claim Printing Ind Pension Scheme can show how gateway idea for proposed stakeholder pension can work

Public affairs

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