Tom McPhail

speaker

705 appearances 1 recordings 1 series first heard Aug 2026 last heard 3 Aug

Tom McPhail’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Aug 2026 with 1.

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Making Money · ARCHIVE: Will You Be Hit By The UK Pensions Crisis? · 3 Aug 2026 podcast

And at the same time, state finances have come under quite a lot of pressure.

So the sustainability of the state pension is also increasingly uncertain.

So whilst we've made some progress,

We're having to run quite fast just to stand still.

Yeah, so it dropped a lot.

And in fact, if you look at the data,

There are still pensioners in poverty, and in fact the numbers have gone back up again a bit in recent years.

But through most of 2010, thanks to the triple lock, the way the government kept uprating the state pension in line with the best of 2.5% earnings or inflation, that had the effect of increasing the state pension relative to everything else that was happening.

So that was really good news for pensioners, and that did do quite a lot to diminish pensioner poverty.

So the overall picture is better than it has been if we go back into previous decades.

But again, there's still lots of pensioners who don't have enough money to live on.

And quite often what happens is you have a couple.

So the man has most of the pension right to his name because historically going back through the decades, workplace provision mainly accrued to men.

Women very often weren't members of pension schemes.

they then typically outlive their husband.

And the widow's pension that's left for these women in their 80s and 90s is often quite measly.

So that's still a significant problem for pensions.

And the state pension itself is still quite complicated.

It's been reformed.

It's better than it used to be.

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