Government's 'lifestyle' policy highlights the need for plain English

A move by the Government to introduce lifestyling on stakeholder pensions last week highlights the p...

A move by the Government to introduce lifestyling on stakeholder pensions last week highlights the problems caused by overuse of industry jargon without any explanation in consumer terms. The financial services industry and politicians alike have long been fond of using terms that mean little to the general public. But the use of confusing and ambiguous jargon is particularly dangerous when it occurs in connection with a product to be sold under a simplified sales regime with only basic advice involved. As defined by the Department of Work and Pensions, lifestyling in the case of its pl...