British Council-Pensions crisis

Transcript of the podcast

Radio presenter: Welcome back everybody, and after that short commercial break we return to this morning’s Hot Topic which is ‘Your Pension’. What are you doing about it? Have you even got one? We sent our reporter Diane into Shrewsbury town centre today to speak to a few early-morning shoppers and get them to have their say

Diane: Excuse me, Madam, can I ask you what you think about the government wanting us all to work till we’re seventy

Shopper 1: I don’t mind really. I mean, if we all retire at sixty, what are we going to do with ourselves for the next twenty years? There are only so many cruises and city breaks you can go on

?Diane: You don’t see it as exploitation

Shopper 1: No, I think companies are coming to realise they made a mistake trying to get rid of so many people by offering them early retirement. These days, most people are fit and healthy in their sixties, and they’ve still got a lot to contribute, with all the experience they’ve gained. It’s not all about knowing how to work the latest technology. Dealing with people counts as well, a cool head, sound judgment, that sort of thing

Diane: Excuse me, Sir, can I ask you if you’re happy with the provision you’ve made for your pension

?Shopper 2: You’re not trying to sell me anything, are you

Diane: No, sorry Sir, I work for the local radio. We’re trying to find out if people are as worried about pensions as the government is at the moment

Shopper 2: Oh, I see. Well, as a matter of fact, I am a bit concerned. I pay my National Insurance every month, but that’s not going to go far. What’s the state pension worth these days? Next to nothing. I suppose I should look into a private pension, but I don’t know where to start really. The number of different schemes… and then you wonder if what you get out of it twenty years down the road is worth what you pay in

Shopper 3: Pension? That’d be nice. I don’t think I’ll even qualify for the minimum by the time I get to that age. I’ve been in and out of work for years. Temporary contracts, a lot of part time work. I don’t think there’s a scheme for people like me

Radio presenter: Well, we’ve had a few emails and text messages while you were listening to that report. I’ve got one here that reads, ‘I’m too young to bother about stuff like that, live life for the moment, you might be dead tomorrow. Pension schemes are for old people, like when you get into your thirties’. Keep those messages coming in. Meanwhile, here’s some music

Answers