Changes in work culture and technology will lead to an 'Uber moment' for savings at some point in the future, Bravura business development manager Natanje Holt believes.
This moment, where people will be able to control their savings more easily, is a symptom of multiple trends reshaping society.
The growth in self-employment, rigid businesses practices and opaqueness of the financial system presents an opportunity for a disruptive solution to take root.
Precisely when and from where the solution emerges is hard to know with certainty but Holt is convinced it will happen.
She said: "There will be an ‘Uber moment' for savings because it is just so difficult to save. It [the disruption] will probably come from completely left of field and it does not even have to be dependent on the state because people are starting to lose confidence in that."
The solution will successfully exploit trends which have been underway for some time.
"If I had to make predictions, I would think there would probably be some form of system that allows you to make quick payments which incorporate micro-investing."
This technology could help bridge the gap between the self-employed and the state which needs to collect revenue.
"If you think about where tax is going, it is becoming more digital and as more people become self-employed, they have to do self-assessments. Why not make it really easy for an individual to put income into two different pots, one to their savings and one to their income? Tax could be collected in a completely different way," Holt continued.
What the implications of all this could be for pensions as a saving vehicle is difficult to measure.
The pensions industry is not doing enough to cater to the needs of the gig economy such as zero-hour contracts.
Holt added: "People want to have flexibility to do multiple things where they have an element of secure income but have a couple of other things on the go. These trends will not stop and whether people will still want to use pensions as a savings vehicle will depend on their individual preferences such as age and their total income."
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