Incorrect state pension forecasts means many face a poorer retirement – how big a problem is it?

This is Money Podcast

This is Money

Business News, Business, Investing, News

4.1 • 650 Ratings

🗓️ 31 May 2019

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We often talk about good retirement planning being key to more secure and happier future – but what happens if the figures you were working on were completely wrong – and it's not your maths to blame…

Editor Simon Lambert, assistant editor Lee Boyce and host Georgie Frost discuss a string of incorrect state pension forecasts sent out that will result in many facing a poorer retirement than expected.

The Government only admits to making occasional errors but a former Pensions Minister reckons the latest cases could just be the tip of the iceberg.

Elsewhere, we talk about a new code which will be give better protection against authorised push payment scams, which costs people millions of pounds each year.

We update on Tesco Bank and its stops mortgage lending and explores the sale of its loan book.

Simon gives an overview of Buffettology – how can you can potentially channel your inner Warren Buffett to become a better investor.

Could you be rich from the Premium Bonds and not even know it? And which firms offer the best salaries in Britain? It's all crammed inside this week's podcast.

Transcript

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0:00.0	Welcome to This Is Money in partnership with NS&I. I'm Georgie Frost and with me in the studio today is editor Simon Lambert and back from his nuptials assistant editor Lee Boyce.
0:12.4	And coming up from losing money to gaining it. We look at the shambles of state pension forecasts, leaving savers out of pocket, new help for scam victims, but will it actually help
0:22.6	at the latest for Tesco Bank mortgage holders?
0:25.8	But if you haven't lost all your money,
0:27.4	we also tell you how to invest it like Buffett
0:29.9	to find out if you're a premium bond winner
0:32.1	and which are the top paying companies.
0:34.3	Don't forget it's up today.
0:35.2	With all the latest breaking money news,
0:36.7	just go to this ismoney.co.uk or download the app.
0:40.8	This is Money brought to you in partnership with NS&I premium bonds.
0:45.4	Now you can start saving from just £25, millions of tax-free prizes every month.
0:51.1	Before we get cracking, Lee, just a quick one.
0:53.5	Congratulations, welcome back to the podcast.
0:55.4	Thank you very much, Georgie. Yeah, I had a lovely wedding, lovely honeymoon and I'm back with a bang.
0:59.7	You are, and looking rather tan and very healthy. Good. All right, well, let's get on into it.
1:05.2	First, we bash on, don't we, here on the podcast. About good retirement planning. It's key to a more
1:10.7	secure and happier future.
1:13.1	What happens if the figures that you're actually working on were completely wrong? And it's not
1:17.5	your maths's fault. An investigation by This Is Money has uncovered a string of incorrect state
1:23.5	pension forecasts sent out that will result in many people facing a poorer retirement than
1:29.1	expected. Now, the government only admits to making occasional errors, but a former pensions
	...

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