It’s time to talk about your pension

When it comes to retirement, working out how much you will need to set aside can seem like a monumental task. The average person has between 8 to 10 jobs over their lifetime. People are living longer – with the median retirement age at 65 and life expectancy at 80. What should people think about when planning for their pension? And what challenges do people face? Women are the most likely to suffer from pension inequality, with single women being the poorest of all pensioners.

Almost a fifth of private sector employees do not do any pension saving, and a third of people expect to retire with only a state pension. To shine a light on some of the pension inequalities, Katy Balls is joined by Wendy Chamberlain, Liberal Democrat spokesperson for Work and Pensions, Jackie Leiper, CEO of Embark Group and MD of Pensions at Scottish Widows, both part of Lloyds Banking Group, and Lauren Wilkinson, from the Pensions Policy Institute, and co-author of the Underpensioned report.

This podcast is kindly sponsored by Lloyds Banking Group.