Saving for Retirement and Hollywood Strikes
Money Box
BBC
4.2 • 825 Ratings
🗓️ 7 October 2023
⏱️ 24 minutes
🧾️ Download transcript
Summary
This week there have been warnings that millions of people aren't saving enough for retirement and calls for pension contributions to be increased. One thinktank - New Financial - released a report saying that despite the success of auto-enrolment nearly a third of the UK workforce are not saving for a pension at all. Most aren't saving enough and will have smaller pensions in future. The government says auto-enrolment means billions more is being saved into pensions.
If you are one of the millions of people who own shares directly in a UK company then you may have to give them up. There are just two weeks left to have your say about the future of how those shares are held. It's because paper share certificates are on the way out to be replaced by digital versions. We'll discuss what this means. If want to have your say email "digitisationtaskforce@hmtreasury.gov.uk".
If you're wondering where your favourite show on Netflix or Paramount has gone it might be a victim of the strikes in Hollywood where 11,000 writers and more than 150,000 actors have been on strike for the last few months. It means a large number of productions being filmed or produced in the UK have been put on hold, leaving the mainly self-employed crew members with no work and no financial support. We'll hear from those affected.
Plus Royal Mail has announced that the price of posting a letter will rise in October for the second time this year. We'll have the details on that.
Presenter: Paul Lewis Reporters: Dan Whitworth and Sarah Rogers Researcher: Sandra Hardial Editor: Jess Quayle
(First broadcast 12pm, Saturday 9th September 2023)
Transcript
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| 0:00.0 | You are about to listen to a BBC podcast and I'd like to tell you a bit about what goes into making one. |
| 0:06.5 | I'm Sadata Sese, an assistant commissioner of podcasts for BBC Sounds. |
| 0:11.2 | I pull a lot of levers to support a diverse range of podcasts on all sorts of subjects, |
| 0:16.0 | relationships, identity, comedy, even one that mixes poetry, music and inner city life. |
| 0:22.4 | So one day I'll be helping host develop their ideas, the next fact-checking, a feature, |
| 0:28.3 | and the next looking at how a podcast connects with its audience, and maybe that's you. |
| 0:33.6 | So if you like this podcast, check out some others on BBC Sounds. |
| 0:39.5 | BBC Sounds, music, radio, podcasts. |
| 0:44.0 | Hello, welcome to this Moneybox podcast. |
| 0:47.5 | Our shareholders are going to lose their rights to challenge company policy or directors pay? |
| 0:53.1 | It'll cost a third more to post your Christmas cards |
| 0:55.8 | first class this year. And tens of thousands of UK actors, writers and production crew in |
| 1:01.8 | film and TV find their work is vanishing as the dry winds from the strikes in Hollywood sweep |
| 1:08.1 | over Britain. But first, people are paying too little into pensions. |
| 1:13.4 | Several warnings this week that millions of us aren't saving enough for retirement and there |
| 1:18.0 | are calls for pension contributions to be increased. One think tank, new financial, released a report |
| 1:23.6 | saying that despite the success of auto-enrollment, nearly a third of the UK workforce |
| 1:28.8 | are not saving for a pension at all, and most of those who do aren't saving enough. It says |
| 1:35.2 | people should be paying in 12% of their salary towards their pension, instead of the present level |
| 1:40.6 | of a nominal 8%, with as much as 15% as a long-term goal. Our reporter, Sarah Rogers, |
| 1:46.9 | went to Stockport to ask shoppers about their pension savings. I've got a teacher's pension from |
| 1:52.7 | before, but I haven't got my other pension yet. Is it enough? Do you have any regrets? Well, |
... |
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