Are you saving enough for retirement? (And another state pension blunder)

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 12 June 2022

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Women have already been hit by a huge state pension blunder in recent years, but now it seems the DWP is messing up again.

After This is Money's Steve Webb and Tanya Jefferies exposed a £1billion women's state pension scandal, which emerged from a reader question sent in to his column, you'd think the Government would be keeping on top of payments.

But it has turned out that more women appear to being told they aren't due the right amount, or in one case that we reported on this week anything at all.

On this week's podcast, Tanya joins Georgie Frost and Simon Lambert to talk through the problems.

Also, are we saving enough for retirement? Steve sounded a warning this week that auto-enrolment was lulling people into a false sense of security and said that employers need to do more.

The team discuss what you can do to make sure you are putting enough into your pension and why the self-employed need to pay particular attention.

Also on this episode, the investment themes that could run for years and make you a profit and is it time for investors to weigh up buying back into Scottish Mortgage after its 40 per cent slump this year.

And finally, petrol prices are rocketing, so is it time for a VAT cut to ease the double whammy of tax?

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to This Is Money podcast. I'm Georgie Frost and joining me and editor Simon Lamber today is Pensions and Investments editor Tanya Jeffreys. And coming up, why is the DWB still missing up their state pension sums when it comes to women? Also more warnings about not saving enough for our future. This time it's aimed at workers in their 40s and comes from
0:21.1	This Is Money's Pensions, Agony Uncle, Steve Webb. So how much do you need to save for your
0:25.9	retirement? And what's the best way to max out your pension contributions while on maternity leave?
0:31.4	Also, today is now the time to pounce on Big Beast Scottish Mortgage and Fund Smith after
0:36.5	they're savaging on the stock market.
0:38.5	Tanya looks at big picture trends that could make you a fortune over the next couple of decades.
0:44.3	And Simon asks, as petrol prices jump again, is it time for a VAT cut to help motorists?
0:49.8	Don't forget you step to date with all the latest breaking money news.
0:52.8	Just go to this ismoney.com.
0:54.2	dot UK or download the app. Market updates and conversations around the financial world don't have to be
1:00.2	boring. The Digest and Invest Podcast by E-Toro is a great way to tune into what's happening in a fun
1:05.8	and easily digestible format. Discover the Digest and Invest podcast at Eitor.com forward slash academy
1:11.9	forward slash podcasts. But first, a retired pub worker wrongly refused a state pension when she
1:18.0	turned 66 in April is urging other women to challenge similar government mess-ups. Estelle Henley
1:24.7	enlisting the support from former pensions minister, and this is money,
1:28.3	pension's agony uncle, Steve Webb, found out she was actually entitled to around £4,400
1:34.3	a year, quite substantially more than nothing. But other women who have reached state pension age
1:40.3	since 2016, and are divorced or widowed, could have lost out on far bigger sums.
1:45.9	Now, this new error is different to the previous scandal discovered by Sir Steve Webb,
1:49.8	and this is money, that tens of thousands of elderly women were underpaid a billion pounds
1:54.4	in a scandal affecting those who reached state pension age before 2016.
2:00.1	Tanya, unravel this all for us. What is this new era? Tell us about Estelle
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from This is Money, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of This is Money and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.