The real pensions simplification

Maybe this is why people don't save enough...just a thought (from Pumpkin Pensions editor Samantha Downes)

(Samantha D thinking about pensions)

Jargon, it exists in all industries.

As a pensions journalist writing for specialist publications I have to write using ‘pensions lingo’.

But then I get a commission to write for a national newspaper, a more general trade magazine or asked to pitch a piece for a women’s magazine.

Even when I simplify my pitch - in a draft version - I know I’ll have to go in again and tone it down.

I simply cannot use niche acronyms or specialist terms; words like ‘decumulation’ and ‘divestment’.

Using jargon has most certainly not helped my consumer writing career and - although my creative writing masters has rolled some of this back - I feel reliance on it has made my work a bit dry.

Articles like this are important (shameless plug for my own work here) DB CETVs: Spectre of mini budget and gilt crisis weighs on transfer requests.

But let’s face it DB CETVs sound like they could be a form of new AI (artificial intelligence) or microchip technology.

Please dump (some) of the pensions jargon

This week I covered a report from Scottish Widows which found, and no surprises here, that three quarters of current working single mothers would struggle to afford heating and food when they retire.

One lady, a 45 year old social worker, asked how she was supposed to save more money into a pension when the cost of living was so high.

I can see why jargon can be a good thing, it simplifies stuff, uses one word instead of three.

But the UK is facing a pensions savings crisis. Yeah, auto enrolment has been helping, making sure we all save more and make sure employers do but it’s not enough.

I feel that until we really can make pensions inclusive, and not just for those in final salary schemes (ahem DB schemes), we need to use language everyone gets.

One that would also help me pitch more pension stories to where they are needed, in our newspapers, in our women’s mags, on general news websites.

Sure, those in the pensions industry can chat divestment to themselves till they are hoarse, but for us journalists, give us something we can empower our readers with.

Plain simple English…