For the past ten years, Jo has been questioning received ideas. Often she can express herself with a subtlety that is informed by ten years’ of commentary
New Labour Chancellor on Rachel Reeves says ‘there’s not a lot of money’ in the Exchequer and the party will turn to ‘private capital’, chiefly pensions, to provide that finance. I expect pension reforms will be a sharp and early focus for the party.
Labour is
— Josephine Cumbo (@JosephineCumbo) July 5, 2024
The Exchequer giveth and it taketh away. I would like to think that the final “Labour is” is both a statement and an incitement to her successor to complete the sentence!
I am hoping that we will see another Jo come to the fore, not afraid to stand up for common sense and for the common people.
She doesn’t compete for or get lifetime awards for what she does from the “industry”. Other journalists, more amenable to the pensions lobby , find favor, but not Jo Cumbo.
But the demand for independent journalism is determined by people’s willingness to pay for it. This week we hear that Professional Pensions is moving to a “membership” and “membership lite” model
I’m currently a full member though I cannot imagine that when I come to renew , some time in the next three months, there will be a subscription to pay. I will pay it and won’t begrudge doing so because I would rather pay for good journalism than not pay for advertorial.
I attended the Willis Towers Watson journalism awards a few weeks back. Jo was not there but her boss, Claer Barrett did win an award. I enjoy Claer’s breezy no-nonsense style which is consumer based. But it is not news-based journalism and we currently have precious little actualite in pension reporting. Compare the hum of CityWire to the drum of the trade press to witness the lack of incision.
There are young journalists but too often I find them spending the time they should be talking to industry players, filing stories in the press room and watching keynote debates on the television- rather than asking questions in the conference halls.
With Jo gone, who will they look up to?
I speak as an amateur, I have no accreditation and don’t follow the rules of the press-room, no doubt I annoy and frustrate as I attract eyeballs away from the advertisers.
But I am quite sure that there needs to be a counter party to the received wisdom of the industry. Otherwise we will see more herding , more financial crisis’ and more “wise after the event” commentary.
I continue to read my journalism from paid sources (the FT and The Times), and happily pay the Guardian on a voluntary basis. We run Pension PlayPen on a voluntary subscription service (thanks to all who pay) and we all pay a licence fee for the brilliant journalism of the BBC. We are uncommonly well served by journalism in this country and to continue to be so, we need to use our money to pay journalistic bills.
As an amateur in receipt of a pension and revenue from my businesses, I do not intend to put this blog on a subscription basis but can see good reason for others to do so.
Farewell to pensions Jo and thank you. I will continue to follow your journalism and hope that your successor will continue your and the FT’s fabulous work.
