Yesterday I wrote about the relevance of the Winter Fuel Payment cut to the way people think about their pensions.
Check your pension credit eligibility before giving up on winter fuel payment https://t.co/EgMG5QhD84 Use Martin Lewis’ 10-minute benefits check to see what you or your elderly loved ones could get.
— Henry Tapper (@henryhtapper) July 30, 2024
@income_max @policy_practice @gmorgan_ferret @entitledto @turn2us_org @lightningreach @inbestai @CitizensAdvice to list but a few.#ImproveOutcomes #LetsFixBritain 🇬🇧
— Johnny Timpson (@johnnytimpson1) July 30, 2024
It is of course that the funding for these resources gets value for the money and my blog will berate inefficiency in delivery from time to time , but it will not berate the value of having MoneyHelper, Pensions Wise and Citizen’s Advice as physical resource , more than a chatbot.
Martin Lewis of course uses Charlotte Jackson and the MaPS PR team on all his pension programs. We do not make enough of the support network we have to hand and Lewis is an inspiration (as is Johnny himself) .
It is really encouraging that people read, listen and take action on posts on this subject. I know nothing of Beverley Ord other than she consistently argues for the needs of pensioners in a fair and articulate way.
The message needs to be as loud and clear as Beverly, Martin, Johnny and the support infrastructure can make it.
The Financial Services industry, if they are serious about “financial adequacy” in retirement , must pay attention to the issues that matter to older people. TV licences, winter fuel payments and the protection of household incomes via the triple lock are critical. That is because many older people have no plan B, because there is little or no private provision left them.
This is the dark side of a private pension system that focusses on wealth and pathways and ignores those who have no wealth and precious little choice.