The BBC's Panorama has been accused of scaring UK consumers away from pension saving.
AWD Chase de Vere claims Monday's Panorama programme, 'Who will Save the Savers', suggested pension saving was pointless and offered no solutions to the UK's growing pensions crisis.
Martyn Laverick, marketing director at AWD, says the programme did bring the debate about the UK pensions crisis into the open, but says it made saving for retirement seem like a 'lost cause'.
"There's no doubt that the UK is facing a huge pension crisis, but TV programmes like last night's Panorama could help turn a crisis into a tragedy," he says.
"The programme set out the UK's pension problems - but offered no solutions. Most people watching the programme would conclude that saving for retirement is a waste of time and money."
Laverick believes the BBC will scare people away from saving from retirement, worsening the pensions crisis.
"It is only by saving sufficiently while they are working that people can hope for a decent retirement income, as it is quite clear that the state neither has the will nor the money to provide proper state funded pensions," he adds.
AWD Chase de Vere says the programme should have done more to promote the importance of saving for retirement at an early age, and saving a sufficient amount to pay for a reasonable retirement income.
"It would have been far better if the programme had told people about the importance of saving," Laverick says.
"It could have called for a top-quality government-funded pension education programme - but instead I'm afraid it will have inadvertently made matters worse by further increasing people's fear of pension saving."
Contact: John Bakie, Tel: 020 7484 9805, e-mail: [email protected]
Have your say:
"I can quite see why the layman feels pension saving is a complete waste of time, unless you're able to save a lot into a pension vehicle. With the current means- tested benefit regime, for most working people its pointless to save. Until the Politicos amend the system, be brutally honest with the electorate, and this will mean poorer people lose out, there's little point. The NPSS is yet another useless exercise and won't help." Dan Rear, IFA
"Well I watched the programme and 'by & large' thought it was accurate. The odd sloppy point and greedy individual but other that 'smack on'. Me ? I've been in this industry for 30 years, an IFA for 22 and stopped recommending any pension scheme about 6/7 years ago.
They are ALL USELESS." Derek Richings, IFA
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