Pensions liabilities will be the death of us (well some of us). They also will create new opportunities

I recently wrote about the way that pensions liabilities are having a material impact on the way that organisation function today and into the future.

Here is another graphic example of this issue.  The NHS pension scheme has liabilities of £390 billion, more than two and a half times what the government will spend on health this year.

You might say that this is a 'theoretical' number and doesn't impact the day to day way the organisation operates. OK, well how about this fact - this year the pension scheme will cost the NHS an estimated £10 billion. This is almost 10% of its overall budget of £116bn.

So what has this got to do with marketing to older consumers? Why should a marketer give a damn about the financial arrangements of the NHS, other than wondering why they have to wait for 5 hours if they attend A&E or face lengthy delays getting appointments to see their doctor.

Every £/$/Euro spent on pension is one that is not spent on the running of the organisation. As I explain in my next book (This I Know) the provision of state services is going to continue to decline in quality and if anything will deteriorate at a faster rate. This will force consumers to seek other solutions and it is in these other solutions, my marketer friend, where the future opportunities will reside. It is as simple as that. Dick Stroud