Why on earth would you want to cash in your entire pension pot at age 55 when all the statistics point to you living well into your 80s? For many people, the answer is that you would be crazy to do so - you should leave the pot alone to let it grow and be thankful you will have a pension to fall back on when you reach 65.
Pensions are still regarded as incredibly complicated, scary and boring. We need to dispel the myth that investing in a pension scheme is hard work. For the woman at the party, the advantages of receiving valuable matching contributions from her employer had not got through. She had lost out on 10 years' free money between the ages of 25 to 35.
In my last article, I identified a new young generation, the SAFFYs: Serious, Active, Forward-Facing Youth. They're very different to the "typical teen" parodied by Kevin the Teenager. Less frivolous, hedonistic, lazy and 'devil may care'. More anxious and responsible about the future, and more respectful of the past.