How safe is your pension? Channel 5. Any thoughts?

Silvertabby

 Mr S and I don't have a penny between us in DC/private pension funds, so I suspect that we - and many like us - affect these figures.

anonmoose

So when you consider all that DBs, those who are never going to save etc then it doesn't sound shocking. And bearing in mind those on mse pension forum are unlikely to be the normal!

nigelbb

molerat said:

westv said:

I missed it. Was it about scammers cold calling people? Why do some fal for them?

No, more about the reality of retirement income.

There were a few throw a brick at the telly moments !

The feature couple seemed typical of the want it now generation living to the full extent of their income.  "Planned" retirement - a gite in France with glamping pods, affordable reality with current pension - 2 weeks in a caravan !

The best bit was the opening scene, one of my regular haunts in the 70s, The Rising Sun, Coltishall.

Small world. I used to live within walking distance of The Rising Sun.

nigelbb

westv said:

Collyflower1 said:

Looked like an old programme ive seen from a few of years ago! Michael Burk mentioning the state pension would only bring in about £160 per week and people expecting a hand to mouth retirement would need double that!

At the end it says it was filmed in 2019.

Upthread it mentions Michael Buerk (born 18 February 1946) saying that at the age of 76 he still has to work.

westv

anonmoose said:

 And bearing in mind those on mse pension forum are unlikely to be normal!

   

sammyjammy

L9XSS said:

just watched this. Hopefully quite an “eye opener” for those that aren’t pension savvy.

Those that aren't pension savvy are exactly the people that wouldn't watch it because "its boring!"

bostonerimus

"How safe is my pension?' depends on what type of pension you have. Index linked annuities and DB pensions are safe as they should protect you from the risks of the markets and inflation. State pension should do the same, but there's a a political risk that a government might reduce it or change the rules. If you have a DC pension then the risk depends on how you are invested and how you manage the money and given the rash of threads on here bemoaning 10% losses in pension savings and asking if they should sell I think lots of people's pensions are at risk.

anonmoose

westv said:

anonmoose said:

 And bearing in mind those on mse pension forum are unlikely to be normal!

   

Oops I worded that badly 

daveyjp

nigelbb said:

westv said:

Collyflower1 said:

Looked like an old programme ive seen from a few of years ago! Michael Burk mentioning the state pension would only bring in about £160 per week and people expecting a hand to mouth retirement would need double that!

At the end it says it was filmed in 2019.

Upthread it mentions Michael Buerk (born 18 February 1946) saying that at the age of 76 he still has to work.

I suspect this is a case of 'get someone people know to say something which reinforces our position'.

Media people are often in a position where they don't have to retire and they are available to do odd jobs  and keep their hand in.  Some are probably fearful of being forgotten, but they may not admit it, and one day the offers may stop.

"Has to work" can be judged in many ways.

Work to keep wolves from the door or work to maintain a lifestyle he has become accustomed to?

anonmoose

Exactly Davey, he mentioned how fond of boats he was so I suspect it is more about maintaining a lifestyle. And who could blame him but most people would say they choose to work to maintain a lifestyle not 'have to work'. Makes better TV to make shocking statements though.