Merryn Somerset Webb

You can see that the amount of money you had at the beginning of a particular period and the amount of money that you have at the end of a particular period, but it isn't divided up, for example, into how much of that is an actual return and how much of that is you handing even more money to the provider.

So the information that's provided by these pension providers, I still think it is pretty minimal.

But more importantly, it would seem to me that something like we're going to put 30% of your money into the private market

That, I think, should come with an email to everybody saying, hey, this is our policy.

I wonder how you feel about it.

These are the upsides and these are the downsides.

These are the risks.

And not necessarily that Nest should then respond by going, oh, 60% of people don't want to be in private equity, so we shouldn't do that.

But that people feel that they're...

in some way involved that they have some agency over their own money and that their providers are listening.

And I think that we can move that conversation forward if the fund management companies were a little bit more proactive.

And this isn't complicated these days.

I mean, you couldn't be proactive in the way that we're discussing 25 years ago, but technology has moved on very dramatically and you can be that proactive.

We got it wrong.

Many of the problems that we are freaked out about in the world are the result of stress.

I like hearing you talk.

Sting hears madness.

Yeah.

Yeah.

Interesting.