It’s good to hear from Jo Cumbo that she’ll be turning her retirement savings into a retirement plan. I hope this link works for you (purchased at considerable expense by me). If it does, you can read for yourself how Britain’s #1 pension journo intends to put out the fires in later life.
This comes on the day that Jo’s #1 Aussie pin-up really did put out a fire – and in his shreddies.
Jason Donovan tackles Notting Hill fire in his underpants at 4am https://t.co/j2vE0tBHNc
— Sky News (@SkyNews) October 2, 2019
But I don’t mean to demean Jo’s pledge to herself to take advice and create a financial plan for herself in later life. It is something that more of us should do and do with a regulated financial adviser who can explain complex products as well as the impact of inflation , interest rates and markets on your later life.
Jo is of course , not of the generation that enjoyed the certainty of defined benefits from workplace pensions. Were she- I doubt that she would be as cavalier as her colleague Merryn Somerset-Webb who declared that if she had a financial salary pension , she’d cash it in tomorrow. Pensions are hard fought for and easily lost. I am sure that Jo will prize the defined benefit of her state pension , even if the definition of when it comes into payment is a tad slippery.
I had hoped that I wouldn’t have to comment on the impending announcement from the Judicial Review on the treatment of women whose retirement has been pushed back to equalise with men.
After a lifetime of living hand to mouth I was looking forward to a frugal retirement. I don’t need a lot, just a roof over my head, food and warmth. Not a lot to ask is it? One of the lowest #pensions in the west out done by £0 #pension for us #50sWomen#OneVoice #Waspi #WPIYPO https://t.co/EdlihD7TVn
— #OneVoice Howling #GreersLaw (@HappyThriver) September 24, 2019
It is tweets such as this that remind us of the importance of workplace pensions and of doing pre-planning as Jo is doing.
But tweets such as this remind us that there are a large number of people who do live “hand to mouth” for whom the state pension and benefits will be not just the principle but their only source of retirement income.
Which is why having a financial plan is worth it for all of us. Jo has shown her leadership skills – it’s up to the rest of us to follow suit. Now’s a good time to remind those of us who haven’t addressed these questions for ourselves of the DWP’s excellent initiative to raise pension awareness.