Money Box - The Death Of Retirement

Episodes

TitleFirst
Broadcast
Comments
Can We Afford Retirement?20170729

How will retirement look in the future, and what are the challenges in providing for it?

In this first programme in a seven part series that explores what retirement might look like in the future, Brooke Elias, a 23 year old just starting out in the world of work asks three pension experts about the challenges she's likely to face in providing for her retirement and what the solutions might be.

The population is getting older and the number of pensioners supported by each 1000 people in work is getting bigger. It will need steady rises in state pension age to keep it around its present level of three workers paying for each pensioner.

Until recently the number of people paying into a pension at work was falling. Now, it is rising again with the automatic enrolment of most workers into one. But not enough is going into many workplace pensions to give members a comfortable retirement.

So will tomorrow's pensioners be able to afford what is in effect a twenty year paid holiday at the end of their lives? And will the working population be willing to help them pay for it?

Paul Lewis is joined by former Pensions Minister Baroness Ros Altmann, Tom McPhail, Head of Retirement Policy at the finance company Hargreaves Lansdown and Paul Johnson Director of the Institute for Fiscal Studies.

Presenter: Paul Lewis
Producer: Ben Carter
Editor: Andrew Smith.

In this first programme in a seven part series that explores what retirement might look like in the future, Brooke Elias, a 23 year old just starting out in the world of work asks three pension experts about the challenges she's likely to face in providing for her retirement and what the solutions might be.

The population is getting older and the number of pensioners supported by each 1000 people in work is getting bigger. It will need steady rises in state pension age to keep it around its present level of three workers paying for each pensioner.

Until recently the number of people paying into a pension at work was falling. Now, it is rising again with the automatic enrolment of most workers into one. But not enough is toing into many workplace pensions to give members a comfortable retirement.

So will tomorrow's pensioners be able to afford what is in effect a twenty year paid holiday at the end of their lives? And will the working population be willing to help them pay for it?

Paul Lewis is joined by former Pensions Minister Baroness Ros Altmann, Tom McPhail, Head of Retirement Policy at the finance company Hargreaves Lansdown and Paul Johnson Director of the Institute for Fiscal Studies.

Presenter: Paul Lewis
Producer: Ben Carter
Editor: Andrew Smith.

Can We Afford Retirement?20170729

How will retirement look in the future, and what are the challenges in providing for it?

In this first programme in a seven part series that explores what retirement might look like in the future, Brooke Elias, a 23 year old just starting out in the world of work asks three pension experts about the challenges she's likely to face in providing for her retirement and what the solutions might be.

The population is getting older and the number of pensioners supported by each 1000 people in work is getting bigger. It will need steady rises in state pension age to keep it around its present level of three workers paying for each pensioner.

Until recently the number of people paying into a pension at work was falling. Now, it is rising again with the automatic enrolment of most workers into one. But not enough is toing into many workplace pensions to give members a comfortable retirement.

So will tomorrow's pensioners be able to afford what is in effect a twenty year paid holiday at the end of their lives? And will the working population be willing to help them pay for it?

Paul Lewis is joined by former Pensions Minister Baroness Ros Altmann, Tom McPhail, Head of Retirement Policy at the finance company Hargreaves Lansdown and Paul Johnson Director of the Institute for Fiscal Studies.

Presenter: Paul Lewis
Producer: Ben Carter
Editor: Andrew Smith.

In this first programme in a seven part series that explores what retirement might look like in the future, Brooke Elias, a 23 year old just starting out in the world of work asks three pension experts about the challenges she's likely to face in providing for her retirement and what the solutions might be.

The population is getting older and the number of pensioners supported by each 1000 people in work is getting bigger. It will need steady rises in state pension age to keep it around its present level of three workers paying for each pensioner.

Until recently the number of people paying into a pension at work was falling. Now, it is rising again with the automatic enrolment of most workers into one. But not enough is going into many workplace pensions to give members a comfortable retirement.

So will tomorrow's pensioners be able to afford what is in effect a twenty year paid holiday at the end of their lives? And will the working population be willing to help them pay for it?

Paul Lewis is joined by former Pensions Minister Baroness Ros Altmann, Tom McPhail, Head of Retirement Policy at the finance company Hargreaves Lansdown and Paul Johnson Director of the Institute for Fiscal Studies.

Presenter: Paul Lewis
Producer: Ben Carter
Editor: Andrew Smith.

How Much Money Is Enough?20170826

Will you be able to afford a luxury lifestyle in old age?

Pensioners retiring today are described as a fortunate generation. Many have benefited from generous workplace pensions, the ability to buy their own homes and soaring property values. Future generations may not be so lucky.

Until recently the number of people paying into a pension at work was falling. Now, it is rising again thanks to a system of automatic enrolment. But not enough is currently going into many of these pensions to allow people a 'comfortable' retirement. Plus we're all living longer so what funds we do have are having to go further.

In this final programme of our series looking at whether retirement as we know it is dead, we ask whether tomorrow's pensioners will be able to afford a twenty year paid holiday at the end of their lives? If not, then what are their options and what do policy makers need to do to adapt?

Presenter: Adam Shaw
Producer: Alex Lewis
Editor: Andrew Smith.

How Much Money Is Enough?20170830
The Death Of Retirement - Live20170906

Final part of the series that explores what retirement might look like in the future.

The Death of Retirement: Louise Cooper takes your calls and emails on what we've learned from the Money Box series, and discusses what deters people from investing in pensions - low investment returns, lack of transparency, uncertainty over outcomes and fears about future means testing of the state pension. She also looks at what could change with public sector pensions, older workers, annuities versus drawdown, consolidating pensions, one-pot pensions, pensions for children and your ideas for a wholesale change of emphasis on how to provide for retirement.

Joining Louise on the programme are 23-year-old Brooke Elias, Paul Johnson, Director of the Institute for Fiscal Studies, former Pensions Minister Baroness Ros Altmann and Tom McPhail, Head of Policy at Hargreaves Lansdown.

Presenter: Louise Cooper
Producer: Paul Waters.

The Death Of Retirement - Live20170906

Final part of the series that explores what retirement might look like in the future.

The Death of Retirement: Louise Cooper takes your calls and emails on what we've learned from the Money Box series, and discusses what deters people from investing in pensions - low investment returns, lack of transparency, uncertainty over outcomes and fears about future means testing of the state pension. She also looks at what could change with public sector pensions, older workers, annuities versus drawdown, consolidating pensions, one-pot pensions, pensions for children and your ideas for a wholesale change of emphasis on how to provide for retirement.

Joining Louise on the programme are 23-year-old Brooke Elias, Paul Johnson, Director of the Institute for Fiscal Studies, former Pensions Minister Baroness Ros Altmann and Tom McPhail, Head of Policy at Hargreaves Lansdown.

Presenter: Louise Cooper
Producer: Paul Waters.

The Death Of Retirement: Live20170802

Paul Lewis presents a series that explores what retirement might look like in the future.

Louise Cooper and guests explore the challenges facing young people as they save for retirement. Call 03700 100 444 between 1pm and 3.30pm on Wednesday 2 August or email moneybox@bbc.co.uk with your questions and stories.

By the time today's millennials reach retirement, they are predicted to live longer, work longer and earn less from their pensions. Saving for retirement can be a daunting prospect, especially when you are trying to get on the housing ladder or pay off student debt.

We will be talking to Money Box listeners about what kind of retirement they want and how they can save for it.

Whether you have a question to ask or an experience to share, we'd love to hear from you.

Joining Louise Cooper to talk it over are:

Iona Bain, Founder, The Young Money Blog
Chris Curry, Director, The Pensions Policy Institute
Steve Webb, Director of Policy, Royal London

Call 03700 100 444 between 1pm and 3.30pm on Wednesday 2 August. Standard geographic charges from landlines and mobiles will apply. Or email moneybox@bbc.co.uk with your thoughts and experiences.

Presenter: Louise Cooper
Producer: Josephine Casserly
Editor: Andrew Smith.

The Death Of Retirement: Live20170802

Paul Lewis presents a series that explores what retirement might look like in the future.

Louise Cooper and guests explore the challenges facing young people as they save for retirement. Call 03700 100 444 between 1pm and 3.30pm on Wednesday 2 August or email moneybox@bbc.co.uk with your questions and stories.

By the time today's millennials reach retirement, they are predicted to live longer, work longer and earn less from their pensions. Saving for retirement can be a daunting prospect, especially when you are trying to get on the housing ladder or pay off student debt.

We will be talking to Money Box listeners about what kind of retirement they want and how they can save for it.

Whether you have a question to ask or an experience to share, we'd love to hear from you.

Joining Louise Cooper to talk it over are:

Iona Bain, Founder, The Young Money Blog
Chris Curry, Director, The Pensions Policy Institute
Steve Webb, Director of Policy, Royal London

Call 03700 100 444 between 1pm and 3.30pm on Wednesday 2 August. Standard geographic charges from landlines and mobiles will apply. Or email moneybox@bbc.co.uk with your thoughts and experiences.

Presenter: Louise Cooper
Producer: Josephine Casserly
Editor: Andrew Smith.

The Retreat Of Employers20170812

Series exploring what retirement might look like in the future.

The Retreat Of Employers20170816

Occupational pensions - the origins and the future of employer involvement.

For many people, the workplace pension has been the crux of a decent income in retirement - a guaranteed sum paid for the whole of your non-working life. Stockmarket fluctuations, our increasing longevity and well-meaning changes to pensions policy by successive governments have helped make these sorts of schemes unaffordable. At the same time, something equally fundamental has been happening to the structure of the workplace as well as the nature of the relationship and expectations between employer and employee.

The last 10 years has seen the closure of 60% of schemes which would guarantee you a 'wage' in retirement. Since 2012 a system of auto enrollment has instead required all employers to offer a pension that employees are opted into by default. But these come without any assurances about future pay outs and contribution rates are low.

So what role do employers' pension schemes now have in providing us with a comfortable retirement?

Presenter: Adam Shaw
Producer: Alex Lewis
Editor: Andrew Smith.

The Role Of The Private Pension Industry20170819

Can we rely on the pensions industry to help us attain the comfy retirement we aspire to?

Governments are struggling to raise the taxes to pay for a generous State Pension while employers are less and less willing to fund generous pension schemes. Can we invest our own savings to fill the gap?

The pension industry has come in for a lot of criticism for high fees, poor performance, and a lack of transparency. But there are signs that the industry and the government are determined that things will change for the better so can we rely on the pensions industry to help us attain the comfortable retirement many of us aspire to. One proposal is a "pensions dashboard" which will help us keep track of our pension savings and what kind of retirement income they should deliver.

Presenter: Louise Cooper
Producer: Ben Carter.

The Role Of The Private Pension Industry20170823
Will The State Pay For Our Retirement?20170805
Will The State Pay For Our Retirement?20170805

Can the state support a long and prosperous retirement for all?

The current State Pension system - guarantees anyone with requisite NI contributions a pension of £150ish a week (in real terms. It is protected by the "triple lock" and guarantees a minimum income on reaching State retirement age. But....it's not enough to live on - it's only it's only remotely enough for those with no housing costs and no-one believes the triple lock is affordable for much longer. How much can we rely on the State to fund a retirement.
Presenter:Paul Lewis
Producer: Ben Carter
Editor: Andrew Smith.

Will The State Pay For Our Retirement?20170809
Will The State Pay For Our Retirement?20170809

Can the state support a long and prosperous retirement for all?

The current State Pension system - guarantees anyone with requisite NI contributions a pension of £150ish a week (in real terms. It is protected by the "triple lock" and guarantees a minimum income on reaching State retirement age. But....it's not enough to live on - it's only it's only remotely enough for those with no housing costs and no-one believes the triple lock is affordable for much longer. How much can we rely on the State to fund a retirement.
Presenter:Paul Lewis
Producer: Ben Carter
Editor: Andrew Smith.