Are the state pension's days numbered?
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 12 January 2018
⏱️ 47 minutes
🧾️ Download transcript
Summary
Planning on relying on the state pension to keep you afloat in retirement? After listening to this week’s podcast, you might want to have a rethink.
On this episode, presenter Georgie Frost, consumer affairs editor Lee Boyce and personal finance editor Rachel Rickard Straus discuss what’s in store for the state pension.
Will it still be around when they come to retire? A report this week suggests something will have to change to make sure it is, whether that be everyone paying more in National Insurance, the retirement age rising again or a means-tested state pension.
The team also discuss getting hold of our state pension forecasts – and if they’re at all reliable.
And what about those who are already retired?
The trio then discuss a growing trend of retirees extracting money from the value of their homes to pay off credit card debts.
But it’s not all gloom.
Lee has news of a 50p coin that could be worth considerably more than that – and that you can only get hold of by going on a lovely day out.
Enjoy.
Transcript
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| 0:00.0 | Welcome to This Is Money podcast in partnership with NS&I, bringing you a weekly roundup of the top personal finance, consumer and business stories that editor Simon Lamb and his team have been covering on their reward-winning website. |
| 0:13.2 | I'm your host, Georgie Frost, and with me today is personal finance editor Rachel Rickard Strout and Consumer Affairs Editor Lee Boyce. |
| 0:20.0 | And coming up, pay up or lose out. |
| 0:22.7 | That's the reality facing under 50s, who hope the state pension will still be around when they retire. |
| 0:28.2 | Meanwhile, there are calls for health warnings on state pension forecasts. |
| 0:32.1 | After one, this is money reader, got something of a shock. |
| 0:34.8 | We find out how much did our Yuletide taste test impact |
| 0:38.9 | on the festive results of the big supermarkets? |
| 0:41.7 | I doubt any, but we bring you the winners and losers all the same. |
| 0:45.0 | We give a toss about an expensive coin |
| 0:47.2 | and Rachel tells us to enjoy those Costa Lates and pre-lunches. |
| 0:51.9 | She has a better plan for our new year financial resolutions. |
| 0:55.7 | All that and plenty more coming up. |
| 0:57.4 | Don't forget you stay up to date with all the latest breaking money news. |
| 1:00.3 | Just go to this ismoney.com.uk or download the app. |
| 1:04.9 | This is money. |
| 1:06.4 | Brought to you in partnership with NS and I, giving you 100% security for your savings, backed by HM Treasury. |
| 1:13.9 | Now, the state of the state pension has been very much in the news this week, making rather |
| 1:18.8 | grim reading for those under 50, which is everyone in this studio. You may have to cough up more |
| 1:24.8 | in national insurance contributions or say goodbye to the state pension by 2035. |
| 1:30.0 | That's the prediction of the government's actuary department. |
| 1:32.8 | Now it comes as there are warnings over the accuracy of state pension forecasts. |
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