John Stepek

And probably, ideally, you don't want it in your pension fund because now is probably not the time

to be getting into this stuff um and again it just comes back to what we said on the podcast the other day people need to just take responsibility for knowing what's in their pension because otherwise you know no one else is gonna do it for you no one's gonna do it for them at this point yeah okay let's end with something optimistic the sun's out

Go on, I can see through your window.

It's quite bright out there.

Hi, Merrin.

I mean, I think that's a really important point about people having to be more involved with their own investments.

And I do think one of the positives coming out of auto enrolment over time will be that people will be more engaged with investments.

I noticed our old pal Simon French from Panmure Liberum.

was talking about how the UK doesn't yet have a kind of 401k chat culture as the US does.

But over time, if everyone actually has to worry about what's in their pension and gets to grips with that, then that could be positive for investment in this country.

But...

The other problem is that auto-enrolment is the kind of thing that people will sit there, they'll say, oh, I'm getting paid into a workplace pension scheme.

I mean, one of the reasons that it's an opt-out is because that's to make people do it by default.

But the problem is that when people are doing it by default, they don't think about what's in it or they can't be bored with the hurdles.

And to be fair, I went on the NEST scheme for something that's completely different from this topic, but a bit earlier today.

And you can, you know, it's not hard to look up what they're invested in, but the question is, is anyone going to bother?

And I do think that...

And I don't know who does it, because if you're listening to this, right, and we are talking to you directly, and you don't know what's in your pension auto-enrolment scheme, go and check it.

Don't be lazy.

This is important.