0:00:02 > 0:00:04- Everything has an impact on your life.- Whatever your age.
0:00:04 > 0:00:07From the type of house we live in...
0:00:07 > 0:00:08Oh, this looks nice.
0:00:08 > 0:00:11Yes, it's been completely renovated throughout.
0:00:11 > 0:00:14..to how much money we have to spend...
0:00:14 > 0:00:16Your wage ends up being like a normal working wage, which is good.
0:00:16 > 0:00:18What we put in our bodies...
0:00:18 > 0:00:22I don't think I've ever been fat-fat, but I have put weight on.
0:00:22 > 0:00:25..to the secrets of our genetic make-up.
0:00:25 > 0:00:27You are going to live to be 140.
0:00:27 > 0:00:29That will do. I'll take everything I can get.
0:00:29 > 0:00:33So, finding out about all those things and more
0:00:33 > 0:00:35could help you mature brilliantly.
0:00:35 > 0:00:39Or slow down the ageing process just a little.
0:00:39 > 0:00:42We've tracked down the very best tips and advice
0:00:42 > 0:00:44for holding back the years.
0:00:44 > 0:00:46And now with the help of our team,
0:00:46 > 0:00:48we are going to pass them on to you.
0:00:48 > 0:00:51To show you how to have the time of your life.
0:00:51 > 0:00:52Whenever that may be.
0:00:57 > 0:00:59Hello, and welcome to the show that never grows old.
0:00:59 > 0:01:01Well, we hope so anyway.
0:01:01 > 0:01:03Here's what's on today's show.
0:01:04 > 0:01:08Can you afford to retire now or in the future?
0:01:08 > 0:01:10If the answer is "no" or "I don't know",
0:01:10 > 0:01:13then you might want to pop into our pensions parlour
0:01:13 > 0:01:15for some timely advice.
0:01:15 > 0:01:18I have a small pension from a company that I used to work for
0:01:18 > 0:01:20but they've gone into liquidation
0:01:20 > 0:01:23and I can't find the paperwork anywhere, so is that gone?
0:01:23 > 0:01:26Well, losing trace of a pension is actually
0:01:26 > 0:01:27quite a familiar problem these days,
0:01:27 > 0:01:30but there are ways of tracing the pension.
0:01:31 > 0:01:34All this week Dr Chatterjee is making sense of your senses,
0:01:34 > 0:01:37and today he looks at what happens when we lose our hearing
0:01:37 > 0:01:39and what can be done about it.
0:01:39 > 0:01:41You may find that you're starting to turn the television up
0:01:41 > 0:01:44a little bit louder. You are having to get people to repeat things.
0:01:44 > 0:01:47You may not feel that you've got a problem but you might start to think
0:01:47 > 0:01:50people are mumbling, but it is worth getting it investigated
0:01:50 > 0:01:52if you do experience it.
0:01:52 > 0:01:55And with Britain facing a bungalow building crisis,
0:01:55 > 0:01:58which is bad news for anyone for whom stairs are the enemy,
0:01:58 > 0:02:01is plan B to build your own?
0:02:01 > 0:02:04Ten years ago, when we started specialising,
0:02:04 > 0:02:09I would suggest that the bungalow buyer's typical age would be 65-70.
0:02:09 > 0:02:10Probably 50 now.
0:02:10 > 0:02:14I think that people are recognising that there is going to be a shortage
0:02:14 > 0:02:18and I think people are cottoning on that if they don't get it then,
0:02:18 > 0:02:21they may not be available when they get to 65-70.
0:02:25 > 0:02:29Now, it's estimated that 15 million people are not saving for their
0:02:29 > 0:02:31retirement. Are you one of them, perhaps?
0:02:31 > 0:02:34I am. Do you even know what the different pension plans
0:02:34 > 0:02:38available to you are, or what your state pension is worth?
0:02:38 > 0:02:41So many questions, which is why, with a little help from a friend,
0:02:41 > 0:02:43I headed out to Manchester to set up
0:02:43 > 0:02:46the Holding Back The Years pensions parlour.
0:02:48 > 0:02:52We've come a long way since the idea of a pension was to line up
0:02:52 > 0:02:55at the post office and collect your old age benefit.
0:02:55 > 0:02:58Today, if we are to afford the sort of retirement we want,
0:02:58 > 0:03:02then it's up to us to make sure we know as much as we can.
0:03:02 > 0:03:05But everyone can do with a little help.
0:03:05 > 0:03:09So today in Manchester, the country's first age-friendly city,
0:03:09 > 0:03:12we are setting up a pensions parlour to do just that.
0:03:20 > 0:03:22Perfect.
0:03:22 > 0:03:25And if we're going to get proper answers to people's questions
0:03:25 > 0:03:27then we're going to need a proper expert.
0:03:33 > 0:03:37Michelle Cracknell is chief executive of the Pensions Advisory Service.
0:03:37 > 0:03:42She's got one mission - to help people plan for their future.
0:03:42 > 0:03:44- Hi, Michelle.- Hello.- How are you? - Morning.- Good to see you.
0:03:44 > 0:03:46Thanks for coming along. Tell me, then,
0:03:46 > 0:03:49what's the biggest issue facing people and their pensions today,
0:03:49 > 0:03:52- do you think?- Well, over the last 15-20 years,
0:03:52 > 0:03:55there has been this big change from employers and the state
0:03:55 > 0:03:58providing your retirement income to individuals
0:03:58 > 0:04:00having to take personal responsibility.
0:04:00 > 0:04:03So really the big thing for people at the moment
0:04:03 > 0:04:06is to think that, "I need to think about what I need for my retirement."
0:04:06 > 0:04:09A lot of people think, "Well, I'm going to get my state pension
0:04:09 > 0:04:11"so that will be all right, won't it?"
0:04:11 > 0:04:15Well, the state pension is £159 per week in today's money.
0:04:15 > 0:04:17It certainly won't give the retirement
0:04:17 > 0:04:18that most people aspire to do,
0:04:18 > 0:04:21and that's why you need to do something in addition,
0:04:21 > 0:04:24either through a private pension or through your workplace.
0:04:25 > 0:04:27Well, she certainly seems like the right person.
0:04:27 > 0:04:30All we need now is to round up some people with questions to ask.
0:04:30 > 0:04:31And that's my job.
0:04:33 > 0:04:36Roll up, roll up, bring me your pension questions.
0:04:36 > 0:04:37Come on, then, come and see me.
0:04:37 > 0:04:40Do you know what a pension is? Do you know how much your pension is?
0:04:40 > 0:04:41Roll up and we'll tell you.
0:04:41 > 0:04:43- You know what a pension is?- Yeah.
0:04:43 > 0:04:45- OK. Are you saving for a pension? - I am, yeah.
0:04:45 > 0:04:47Are you saving for a pension?
0:04:47 > 0:04:49I'm not, personally, yet.
0:04:49 > 0:04:52I had a work pension but I don't work any more
0:04:52 > 0:04:54so I'm reliant on property to be my pension.
0:04:54 > 0:04:55Does that worry you at all?
0:04:55 > 0:04:57Yes.
0:04:59 > 0:05:00Do you know what a pension is?
0:05:00 > 0:05:02- I certainly do.- Are you saving for a pension?
0:05:02 > 0:05:04Not at the moment.
0:05:04 > 0:05:06- How about you?- I've had one for years
0:05:06 > 0:05:08and I'm with a company pension.
0:05:08 > 0:05:10- You'll be all right then.- Why do you think we are together?
0:05:10 > 0:05:12Because she's got the money!
0:05:13 > 0:05:16New government rules state that after April 2018,
0:05:16 > 0:05:19it's legally incumbent on all employers
0:05:19 > 0:05:23to offer a suitable workplace pension for their staff.
0:05:23 > 0:05:27It's called the National Employment Savings Trust, or Nest for short,
0:05:27 > 0:05:31and that's exactly what 25-year-old Amy Mann is concerned about.
0:05:31 > 0:05:33What would you like to know from Michelle?
0:05:33 > 0:05:37Just how Nest works and what happens when the money goes in and out?
0:05:37 > 0:05:41The first time you'll be able to access the pension pot is aged 55,
0:05:41 > 0:05:44so you've still got a long time to wait, but equally,
0:05:44 > 0:05:46a long time for the money to build up.
0:05:46 > 0:05:49The workplace pension scheme is not the only type of pension scheme
0:05:49 > 0:05:52that you are building up. You are also getting credits
0:05:52 > 0:05:54towards the state pension in addition,
0:05:54 > 0:05:56via the National Insurance that you are paying.
0:05:56 > 0:05:58You will probably have more than this job
0:05:58 > 0:06:01by the time you hit retirement, so if you do leave,
0:06:01 > 0:06:05remember that you keep in contact with the pension scheme
0:06:05 > 0:06:07and always give them your contact details
0:06:07 > 0:06:10so that they can keep sending you statements to say
0:06:10 > 0:06:12how much you've got in your pension pot.
0:06:12 > 0:06:15It's a great thing that at the age of 25
0:06:15 > 0:06:18that Amy is contributing to a pension scheme, though, isn't it?
0:06:18 > 0:06:19She's got a long way to go.
0:06:19 > 0:06:21That's right, definitely, a long way to go.
0:06:21 > 0:06:25The earlier you start, the easier it is to start building up a pot,
0:06:25 > 0:06:28and whilst the contributions now are quite modest, obviously,
0:06:28 > 0:06:30the closer you get to retirement,
0:06:30 > 0:06:32the more you'll need to review how much
0:06:32 > 0:06:35you are putting into the pension scheme and what level of retirement
0:06:35 > 0:06:38income it's likely to provide for you at retirement.
0:06:38 > 0:06:40Along with the state pension from the government,
0:06:40 > 0:06:42there are two types of workplace pension.
0:06:42 > 0:06:47One is calculated by how much you or your employer puts in per month.
0:06:47 > 0:06:50It's called a defined contribution pension.
0:06:50 > 0:06:53The other, based on your total salary and how long you've worked
0:06:53 > 0:06:56somewhere, is a defined benefit pension.
0:06:56 > 0:06:58So what if you have both types?
0:06:58 > 0:07:01Well, that's the issue facing training consultant
0:07:01 > 0:07:03and former council employee Louise Goodman.
0:07:03 > 0:07:05So, this one is my most current pension,
0:07:05 > 0:07:07so I'd like to know a little bit more about that.
0:07:07 > 0:07:09It's supposed to be a self-investment.
0:07:09 > 0:07:11And this one is my local authority one.
0:07:11 > 0:07:13What shall I do with it? Shall I leave it?
0:07:13 > 0:07:15Let's start off with the oldest,
0:07:15 > 0:07:17which is the local authority pension scheme.
0:07:17 > 0:07:21Now, this type of pension scheme was based upon your salary
0:07:21 > 0:07:24and so when you left, it was calculated,
0:07:24 > 0:07:28the number of years you worked was a percentage of your salary
0:07:28 > 0:07:29at the date of leaving,
0:07:29 > 0:07:32and then that is revalued each year with inflation.
0:07:32 > 0:07:35Now, for most people, when they have one of these,
0:07:35 > 0:07:38what is described as a defined benefit pension scheme,
0:07:38 > 0:07:40you should leave it where it is.
0:07:40 > 0:07:43You have no investment risk and you've got a guaranteed income
0:07:43 > 0:07:47at retirement, and the pension keeps pace with inflation.
0:07:47 > 0:07:49The latest one that you've taken out
0:07:49 > 0:07:52is a self-invested personal pension plan.
0:07:52 > 0:07:54You could, if you wanted to, have a look,
0:07:54 > 0:07:57have a look on their website where there's a huge amount
0:07:57 > 0:07:59of information, and choose different fund managers,
0:07:59 > 0:08:02where you wanted to invest the money.
0:08:03 > 0:08:06Nowadays, with many of us changing jobs throughout our lives,
0:08:06 > 0:08:10it's not unusual for people to have more than one pension, like Louise.
0:08:10 > 0:08:13Louise has got seven different pensions.
0:08:13 > 0:08:14That's a lot to keep your eye on.
0:08:14 > 0:08:17Is there any mileage in trying to combine them
0:08:17 > 0:08:20- into fewer than that?- Well, there could be.
0:08:20 > 0:08:23For most people, they should keep defined benefit pensions
0:08:23 > 0:08:27with their employers. With the defined contribution pots,
0:08:27 > 0:08:30it is worth having a look at where they're invested
0:08:30 > 0:08:32and what charges that you're paying.
0:08:32 > 0:08:35And also there's an administrative point
0:08:35 > 0:08:37that if you've got a very small pot,
0:08:37 > 0:08:40- and in fact, one of yours is very, very small...- It's tiny.
0:08:40 > 0:08:42..for administrative convenience, you may say,
0:08:42 > 0:08:44"Actually, I'd like to pop that into one of the other pots."
0:08:45 > 0:08:49So, remember, if you're thinking about bringing your pension plans
0:08:49 > 0:08:52together, it's important to know what you would be giving up.
0:08:52 > 0:08:54Not all plans are the same
0:08:54 > 0:08:57and it's worth asking your pension providers to give you
0:08:57 > 0:08:59an up-to-date statement and the latest copy
0:08:59 > 0:09:02of your scheme's terms and conditions.
0:09:03 > 0:09:06Of course, not everyone goes down the pension route.
0:09:06 > 0:09:10Some people choose other investment opportunities, like Julia Frost,
0:09:10 > 0:09:14a self-employed puppeteer who wants to use property she owns
0:09:14 > 0:09:15for her retirement.
0:09:15 > 0:09:18I don't know whether it's better to keep them rented
0:09:18 > 0:09:21so that I have sort of an income every month coming in
0:09:21 > 0:09:23from the rental of those properties,
0:09:23 > 0:09:25or whether I would be better off selling them both,
0:09:25 > 0:09:29having a lump sum and then, I don't know, investing it, or...
0:09:29 > 0:09:31Having properties is obviously one source
0:09:31 > 0:09:33of getting a retirement income.
0:09:33 > 0:09:36I think some of the things to think about is that with properties,
0:09:36 > 0:09:38as you're probably very aware,
0:09:38 > 0:09:40is there's quite a bit of management and, obviously,
0:09:40 > 0:09:43there could be times when they can't be rented out,
0:09:43 > 0:09:46so having all of your retirement income coming off
0:09:46 > 0:09:49the back of properties is probably risky and you should think about
0:09:49 > 0:09:51having something in pensions as well.
0:09:51 > 0:09:55Investing solely in property for her future means Julia is missing out
0:09:55 > 0:09:57on the tax relief a pension provides,
0:09:57 > 0:10:00and in the years in which you earn more,
0:10:00 > 0:10:02you should be adding more, too.
0:10:02 > 0:10:04If you want more out, you have to put more in.
0:10:04 > 0:10:07When you do have a very good year and you're paying tax,
0:10:07 > 0:10:09possible higher rate tax,
0:10:09 > 0:10:11they are the years to make the pension contribution
0:10:11 > 0:10:14because every pension contribution
0:10:14 > 0:10:15does get full tax relief,
0:10:15 > 0:10:19so it's a very, very efficient way of saving.
0:10:19 > 0:10:22- Right. I didn't know that.- Time your contributions to the years
0:10:22 > 0:10:24when you're incredibly busy
0:10:24 > 0:10:27and make sure that you can actually bring down your tax rate.
0:10:27 > 0:10:29And Julia has just one more question
0:10:29 > 0:10:31that a lot of us might be familiar with.
0:10:31 > 0:10:34I have a small pension from a company that I used to work for
0:10:34 > 0:10:36but they've gone into liquidation
0:10:36 > 0:10:39and I can't find the paperwork anywhere, so is that gone?
0:10:39 > 0:10:43Well, losing trace of a pension is actually quite a familiar problem
0:10:43 > 0:10:47these days, but there are ways of tracing the pension.
0:10:47 > 0:10:49In fact, if you go on to gov.uk,
0:10:49 > 0:10:52the government runs a pension tracing service.
0:10:52 > 0:10:54You write in the employer that you use to work for
0:10:54 > 0:10:57and they will tell you what happened to that pension scheme,
0:10:57 > 0:10:59so whilst the company may have gone bust,
0:10:59 > 0:11:03the pension scheme is actually separate from the company
0:11:03 > 0:11:05so it should still be somewhere
0:11:05 > 0:11:07and be managed by a pensions administrator.
0:11:07 > 0:11:09There must be loads of pension money
0:11:09 > 0:11:12which is sort of sitting there unclaimed
0:11:12 > 0:11:15because people have forgotten about it or lost the paperwork.
0:11:15 > 0:11:17- How much is there? - There is millions,
0:11:17 > 0:11:19and so one of the things we recommend is
0:11:19 > 0:11:21actually go back and think about,
0:11:21 > 0:11:23these are all the places I've worked
0:11:23 > 0:11:27and have I got a pension scheme to match all of those places?
0:11:27 > 0:11:29And the good thing about being a puppeteer
0:11:29 > 0:11:32is you don't have to put in pension contributions for your employees.
0:11:32 > 0:11:34Yes, well, that's true!
0:11:35 > 0:11:38So, a busy day in Manchester but we weren't finished there.
0:11:38 > 0:11:40Come on, then!
0:11:40 > 0:11:41Coming up later in the show
0:11:41 > 0:11:44I get out on the prowl for more pension punters.
0:11:44 > 0:11:48Tell me what you're worried about and see if we can sort you out.
0:11:48 > 0:11:50And Michelle tackles even more questions.
0:11:50 > 0:11:53I do have a partner. I'm just wondering if she would be able
0:11:53 > 0:11:56to claim if anything occurred to me.
0:11:56 > 0:12:00This week, Dr Rangan Chatterjee is making sense of your senses,
0:12:00 > 0:12:04giving top tips on what to expect as we get older and how to fix it.
0:12:04 > 0:12:08So today he is tackling the subject of hearing loss,
0:12:08 > 0:12:10which will affect four in ten of us over the age of 50.
0:12:10 > 0:12:13So, listen closely.
0:12:13 > 0:12:16Most of us will experience a notable loss
0:12:16 > 0:12:19in one of our senses after the age of 40.
0:12:19 > 0:12:25That's eyesight, hearing, smell, touch, taste and balance.
0:12:25 > 0:12:29But if you know what to look out for and how to get it tested,
0:12:29 > 0:12:31then treatment is available,
0:12:31 > 0:12:33not to mention top tips for preventing it in the first place.
0:12:34 > 0:12:39I'm Dr Chatterjee and all this week I will be helping you
0:12:39 > 0:12:41make sense of it all.
0:12:41 > 0:12:45Today, I'm trying to keep an ear out for your hearing.
0:12:45 > 0:12:48Around 40% of people over the age of 50 in the UK
0:12:48 > 0:12:51have some form of hearing loss.
0:12:53 > 0:12:56It's incredibly frustrating for those who experience it.
0:12:58 > 0:13:02Particularly in noisy situations like this bar here in Manchester,
0:13:02 > 0:13:04where things can sound more like this...
0:13:04 > 0:13:07MUFFLED SOUNDS
0:13:07 > 0:13:11It's a condition that can lead to social isolation and even depression.
0:13:11 > 0:13:16Not to mention the dangers of not being able to hear warnings, alarms,
0:13:16 > 0:13:17or even last orders.
0:13:19 > 0:13:22So, what can be done to test and tweak hearing loss?
0:13:22 > 0:13:24I've come to Manchester Royal Infirmary
0:13:24 > 0:13:26to speak to Danny Kearney, senior audiologist.
0:13:26 > 0:13:30So, Danny, what happens to our hearing as we get older?
0:13:30 > 0:13:33As we get older, we lose sensitivity from the nerve fibres
0:13:33 > 0:13:35in the inner part of our ear.
0:13:35 > 0:13:37And we're born with a set number
0:13:37 > 0:13:39and they have to last our entire lifetime.
0:13:39 > 0:13:42But they don't heal or regrow, and as we get older,
0:13:42 > 0:13:44as we listen to more sound, they become damaged,
0:13:44 > 0:13:48they become stiff, and so aren't then as effective
0:13:48 > 0:13:52at transferring the sound energy into the signals
0:13:52 > 0:13:55that we need to hear the sounds.
0:13:55 > 0:13:58What do people first notice when their hearing starts to go?
0:13:58 > 0:14:02Initially, it may be other people that notice that difficulty,
0:14:02 > 0:14:05but you may find that you're starting to turn the television up
0:14:05 > 0:14:08a little bit louder, you're having to get people to repeat things.
0:14:08 > 0:14:11You may not feel that you've got a problem but you might start
0:14:11 > 0:14:13to think that people are mumbling
0:14:13 > 0:14:15and they don't speak as clearly as they used to.
0:14:17 > 0:14:22Of course, some people's hair cells might deteriorate more quickly than others.
0:14:22 > 0:14:27Maybe due to family history, infection or disease.
0:14:32 > 0:14:35Or maybe you suffered damage by exposure
0:14:35 > 0:14:37to loud noises in work or at play
0:14:37 > 0:14:41which, given my love of rock music, is something that could apply to me.
0:14:41 > 0:14:44But hearing loss isn't always how this damage manifests itself.
0:14:44 > 0:14:48Sometimes it presents itself in a condition known as tinnitus.
0:14:48 > 0:14:51So, Danny, many people complain of tinnitus.
0:14:51 > 0:14:53What exactly is it?
0:14:53 > 0:14:56Tinnitus is noises that we hear within the ears.
0:14:56 > 0:15:00People often describe it as a ringing or buzzing sounds.
0:15:00 > 0:15:04Tinnitus itself, the noises and sound that we hear,
0:15:04 > 0:15:07that in itself doesn't cause hearing loss?
0:15:07 > 0:15:10No, it's more of a consequence of perhaps changes
0:15:10 > 0:15:12in the inner part of the ear, but it is worth
0:15:12 > 0:15:15getting it investigated if you do experience it.
0:15:16 > 0:15:18If you notice any of these problems,
0:15:18 > 0:15:20the first step is to talk to a GP like myself
0:15:20 > 0:15:24about how these problems are affecting your day-to-day life.
0:15:24 > 0:15:27Some basic tests will clarify whether the problem
0:15:27 > 0:15:31is being caused by something temporary or treatable,
0:15:31 > 0:15:34such as a build-up of ear wax or an infection.
0:15:34 > 0:15:36If there's no obvious cause we'll then refer you
0:15:36 > 0:15:39for a hearing assessment with an audiologist
0:15:39 > 0:15:41who will test to see how well you can detect
0:15:41 > 0:15:43different levels of sound.
0:15:43 > 0:15:47This assessment will help find the cause of your hearing loss
0:15:47 > 0:15:49and what treatments would work best.
0:15:49 > 0:15:51- So, I'll play you a series of tones.- Sure.
0:15:51 > 0:15:54And whenever you hear a tone, I'd like you to press a button.
0:15:54 > 0:15:57Today I'm sitting in on one of these tests
0:15:57 > 0:16:00with 71-year-old Michael Brundrett,
0:16:00 > 0:16:02who has been experiencing some hearing issues lately.
0:16:04 > 0:16:08Next, to offer what we call the control in our experiment,
0:16:08 > 0:16:09it was my turn.
0:16:15 > 0:16:17OK, gentlemen, so I have the results here.
0:16:17 > 0:16:20Michael, we've got the red line here for your right ear
0:16:20 > 0:16:22and the blue line for your left ear there.
0:16:22 > 0:16:27For the low pitches, your hearing is within that normal range there.
0:16:27 > 0:16:28It is also good for the right ear
0:16:28 > 0:16:31but we are having to make it slightly louder.
0:16:31 > 0:16:33It's then, as we get into the high pitches,
0:16:33 > 0:16:37we are having to turn the level of the sound up to a moderate level,
0:16:37 > 0:16:40and it's more of a, possibly even getting into profound level,
0:16:40 > 0:16:43on the right ear. Were you aware that the right ear
0:16:43 > 0:16:44was worse than the left ear?
0:16:44 > 0:16:47Oh, definitely, because you instinctively
0:16:47 > 0:16:49turn your best ear to the sound.
0:16:49 > 0:16:50Now, on to you, Rangan.
0:16:50 > 0:16:53What it's showing is that you've got very good hearing
0:16:53 > 0:16:56for the low and the mid-pitch sounds.
0:16:56 > 0:17:00As we get to 4,000 hertz, so that squeaky, shrill pitch,
0:17:00 > 0:17:03we are having to make those sounds a little bit louder
0:17:03 > 0:17:05so it's broadly within the normal range
0:17:05 > 0:17:07but there are a couple of pitches there
0:17:07 > 0:17:09that's a bit more on the borderline.
0:17:09 > 0:17:11That tends to be a bit more common
0:17:11 > 0:17:14where there's been sort of noise exposure.
0:17:14 > 0:17:18So perhaps in your, you know, the band, sort of playing music,
0:17:18 > 0:17:21going to gigs, it can cause more damage
0:17:21 > 0:17:24to the nerve fibres in that area.
0:17:24 > 0:17:29Yeah, a little bit shocked to have a small area of hearing loss there.
0:17:29 > 0:17:32And I wonder whether going to all those gigs and playing in bands
0:17:32 > 0:17:35when I was in my 20s has actually had an impact.
0:17:35 > 0:17:38Which is still a little bit of a lesson for all of us.
0:17:38 > 0:17:41Whilst the changes in my hearing may be minimal,
0:17:41 > 0:17:44I want to find out what it's like to live day-to-day
0:17:44 > 0:17:46with significant hearing loss,
0:17:46 > 0:17:48so I'm meeting Tim Jones,
0:17:48 > 0:17:50who has suffered from the condition for many years.
0:17:51 > 0:17:53If you can't hear something,
0:17:53 > 0:17:56your face seems as though you're being indifferent,
0:17:56 > 0:17:59and then if you don't have a proper diagnosis,
0:17:59 > 0:18:02you believe the evidence the other people are giving you.
0:18:02 > 0:18:06You believe that you're stupid, you believe that you can't do things.
0:18:06 > 0:18:08Any kind of hearing loss makes you introverted,
0:18:08 > 0:18:12makes you go inside yourself, makes you scared to go to parties,
0:18:12 > 0:18:16go to pubs, so you stay in and spend a lot of time by yourself.
0:18:16 > 0:18:20The solution for Tim, like 1.5 million other people in the UK,
0:18:20 > 0:18:22is to get a hearing aid.
0:18:22 > 0:18:24But it might not be the type you're thinking of,
0:18:24 > 0:18:26because hearing aids have come a long way
0:18:26 > 0:18:28since the days that they looked like this,
0:18:28 > 0:18:30and they sounded even worse than they looked,
0:18:30 > 0:18:33often amplifying everything, including background noise.
0:18:36 > 0:18:39Today, Tim uses a revolutionary cochlear implant.
0:18:39 > 0:18:42Cochlear implants work by taking audio signals
0:18:42 > 0:18:45straight into the inner ear,
0:18:45 > 0:18:48and Tim's now showing me how it works for him.
0:18:48 > 0:18:51This fits onto a screw that's inside of my head.
0:18:51 > 0:18:55This vibrates and the vibrations miss out the bad part of my ear
0:18:55 > 0:18:57and go straight into the part that works OK.
0:18:57 > 0:19:01Wow. So the conventional hearing aid goes inside your ear
0:19:01 > 0:19:04and you've got something that bypasses the inside of your ear
0:19:04 > 0:19:06but gives you a very similar effect.
0:19:06 > 0:19:09Yeah, so this is air conduction through the ear,
0:19:09 > 0:19:11this is bone conduction through your bone.
0:19:11 > 0:19:15It's been a life-changing bit of tech for Tim
0:19:15 > 0:19:18and it even comes with some added bonus gadgets.
0:19:19 > 0:19:22This is the most useful piece of equipment.
0:19:22 > 0:19:24It's a remote microphone,
0:19:24 > 0:19:27which means I can go and have coffee with any friend in any environment,
0:19:27 > 0:19:29they place it just like that there
0:19:29 > 0:19:31and I can hear them, wherever they are.
0:19:31 > 0:19:33This one is a TV streamer.
0:19:33 > 0:19:37The biggest sources of domestic strife was the volume
0:19:37 > 0:19:38I had on the television.
0:19:38 > 0:19:43This means I can listen at my volume into my Bahas wherever I want
0:19:43 > 0:19:47and Lynne can adjust the volume according to her.
0:19:47 > 0:19:49There is only one problem - she gets the remote.
0:19:50 > 0:19:53OK, so let's head back to the bar
0:19:53 > 0:19:57where I'm going to test the tech for myself.
0:19:57 > 0:20:01First up, I simulate significant hearing loss.
0:20:01 > 0:20:03OK, how does that sound for you?
0:20:03 > 0:20:06One, two, three, four. One, two, three, four.
0:20:06 > 0:20:09Yeah, I can hardly hear that. I just can't hear you
0:20:09 > 0:20:11and it makes me feel a little bit uncomfortable.
0:20:11 > 0:20:15Next I put on a simulator to see just what Tim experiences
0:20:15 > 0:20:17when he uses his new hearing device.
0:20:17 > 0:20:19Two, three, four. How are you? How are you?
0:20:19 > 0:20:20Oh, yeah, I can hear you.
0:20:20 > 0:20:23Yes, and it cuts out all the background noise as well.
0:20:23 > 0:20:26But there's something else the implant lets Tim do.
0:20:26 > 0:20:28Raise your hand if you can hear me.
0:20:28 > 0:20:30Now raise your right hand.
0:20:30 > 0:20:32Brilliant.
0:20:32 > 0:20:35He can hear people up to 30 metres away.
0:20:36 > 0:20:38- That's amazing.- If you want to go and order me a drink,
0:20:38 > 0:20:40I can tell you what I want.
0:20:40 > 0:20:42Tim, a seriously impressive bit of kit.
0:20:42 > 0:20:45I can see how this has revolutionised your life.
0:20:45 > 0:20:48What would you say to people who are suffering with hearing problems?
0:20:48 > 0:20:49I would say lose the fear.
0:20:49 > 0:20:53I would say find out as much as you can about your hearing loss,
0:20:53 > 0:20:55go to the professionals, ask their advice,
0:20:55 > 0:20:58stay within the National Health Service.
0:20:58 > 0:21:00It was wonderful to see how technology
0:21:00 > 0:21:03has revolutionised Tim's life.
0:21:03 > 0:21:04That was really interesting
0:21:04 > 0:21:07but they do say that prevention is better than cure,
0:21:07 > 0:21:10so I wonder what tips Dr Danny Kearney can give me.
0:21:10 > 0:21:12I would say tip one would be if you start to notice
0:21:12 > 0:21:14any difficulties with your hearing,
0:21:14 > 0:21:17if people are commenting that you are having the TV louder
0:21:17 > 0:21:22than normal or you are mishearing things then do go to your GP.
0:21:22 > 0:21:26Tip two would be if you are doing noisy activities,
0:21:26 > 0:21:28invest in some ear protection.
0:21:28 > 0:21:30Over-the-ear ear defenders
0:21:30 > 0:21:33or moulded earpieces with different filters.
0:21:33 > 0:21:37Tip three, the ear itself is sort of self-cleaning
0:21:37 > 0:21:40so the best thing to do if you do produce a lot of wax
0:21:40 > 0:21:43is to maybe use some olive oil drops
0:21:43 > 0:21:46to help keep the wax nice and soft and moving out of the ear canal.
0:21:48 > 0:21:51Time now for our daily clip-based quiz.
0:21:51 > 0:21:53Yep, all you have to do is watch the following
0:21:53 > 0:21:55and work out when it all happened.
0:21:55 > 0:21:58And it's a very simple question - what was the year that was?
0:22:00 > 0:22:02So here's how the game works.
0:22:02 > 0:22:04We're going to give you a few key events
0:22:04 > 0:22:09that all happened in the space of a year. But which year?
0:22:09 > 0:22:11And here's why you should play along, by the way.
0:22:11 > 0:22:14Psychologists have said that nostalgia
0:22:14 > 0:22:18can promote a sense of wellbeing and vitality in us all,
0:22:18 > 0:22:23so this really could help you hold back the years.
0:22:23 > 0:22:25# Been around the world and I, I, I
0:22:25 > 0:22:27# I can't find my baby
0:22:27 > 0:22:29# I don't know when, I don't know why
0:22:29 > 0:22:31# Why he's gone away
0:22:31 > 0:22:36# And I don't know where he can be, my baby... #
0:22:36 > 0:22:40From my point of view, I'm at the centre of the web.
0:22:40 > 0:22:44In theory, I can pull in information from any other point
0:22:44 > 0:22:46at the speed of light.
0:22:46 > 0:22:48# Something's gotten hold of my heart
0:22:48 > 0:22:53# Keeping my soul and my senses apart... #
0:22:53 > 0:22:56Researchers use the net to post their discoveries -
0:22:56 > 0:23:00the structure of a protein, the sequence of a human gene -
0:23:00 > 0:23:02almost as soon as they are made.
0:23:02 > 0:23:05But the quantity of data is doubling every 18 months.
0:23:05 > 0:23:10- You know where we are.- Yeah.
0:23:10 > 0:23:11Be lucky.
0:23:15 > 0:23:17# And if dreams were wings, you know
0:23:17 > 0:23:20# I would have flown to you
0:23:20 > 0:23:23# To be where you are
0:23:23 > 0:23:26# No matter how far
0:23:26 > 0:23:28# And now that I'm next to you
0:23:28 > 0:23:30# No more dreaming about tomorrow
0:23:30 > 0:23:34# Forget the loneliness and the sorrow
0:23:34 > 0:23:38# I've got to say it's all because of you
0:23:38 > 0:23:44# And now we're back together, together
0:23:44 > 0:23:50# I want to show you my heart is oh so true
0:23:50 > 0:23:58# And all the love I have is especially for you... #
0:24:02 > 0:24:05And we'll reveal the answer to that at the end of the show.
0:24:05 > 0:24:08Staying independent is always top of any list
0:24:08 > 0:24:10when it comes to holding back the years,
0:24:10 > 0:24:14whether it's for our grandparents, parents or even just ourselves.
0:24:14 > 0:24:18Where we live has a massive impact on that.
0:24:18 > 0:24:21In particular, the ability to get in and out of your own house
0:24:21 > 0:24:23or up and down the stairs.
0:24:23 > 0:24:26The answer should be bungalows, of course,
0:24:26 > 0:24:28but we are facing a national shortage.
0:24:28 > 0:24:31So, what is the plan B?
0:24:31 > 0:24:33Fiona has been exploring the options.
0:24:35 > 0:24:38Once you get to a certain age, so they tell me,
0:24:38 > 0:24:41steps can become a real problem.
0:24:41 > 0:24:46Whereas once you used to bound up them two steps at a time,
0:24:46 > 0:24:49they start to become more akin to climbing Everest.
0:24:49 > 0:24:53And yet, many older people simply don't have an option.
0:24:53 > 0:24:56Statistics suggest that up to a third of us
0:24:56 > 0:25:00could be living in unsuitable houses for our age.
0:25:01 > 0:25:05For people like May Evans, it can be akin to being imprisoned.
0:25:05 > 0:25:09She has lived in this housing association flat for four years.
0:25:09 > 0:25:13- Hey, May! I'm Fiona. Hello. - Pleased to meet you.
0:25:13 > 0:25:16- Lovely to meet you, too.- Yes. Would you like to come in?
0:25:16 > 0:25:18I would love to come in. Thank you very much.
0:25:18 > 0:25:20Thank you.
0:25:20 > 0:25:21So you come in through the main entrance
0:25:21 > 0:25:24and straight ahead of you you've got stairs to contend with.
0:25:24 > 0:25:25- Yes.- How's that?
0:25:26 > 0:25:30Two and a half years ago I was ill with a pulmonary embolism
0:25:30 > 0:25:34and pneumonia, so when I came home from the hospital,
0:25:34 > 0:25:36I found that the stairs were really a problem.
0:25:36 > 0:25:39It's very difficult to breathe when you have pneumonia
0:25:39 > 0:25:44and an embolism and, of course, going upstairs
0:25:44 > 0:25:45was a big problem.
0:25:45 > 0:25:47I stood at the bottom of the stairs and I thought,
0:25:47 > 0:25:50"Will I actually make it to the top?"
0:25:50 > 0:25:53- Yeah, I can imagine. - So, because I didn't get out so much
0:25:53 > 0:25:56I was getting really bored and frustrated.
0:25:57 > 0:26:02But I think if I was older and I couldn't hardly get out at all
0:26:02 > 0:26:06then if all I had was the TV for company,
0:26:06 > 0:26:08I would be most unhappy and probably very lonely.
0:26:12 > 0:26:13In the old days, of course,
0:26:13 > 0:26:17the answer would have been for someone like May to be rehoused
0:26:17 > 0:26:20in a single-storey bungalow, but times have changed.
0:26:20 > 0:26:24In 1980, one in six new builds were bungalows.
0:26:24 > 0:26:28Today it's less than one in 60.
0:26:28 > 0:26:32Here in Swindon, there is one person who is devoted to fighting the cause
0:26:32 > 0:26:35for bungalows - Sue Leeburn.
0:26:35 > 0:26:38She is the manager of Only Bungalows,
0:26:38 > 0:26:40the only estate agent in the UK
0:26:40 > 0:26:43which deals exclusively in bungalow sales.
0:26:43 > 0:26:48Today, she is showing me around a prime example in nearby Rowton.
0:26:51 > 0:26:53Oh, this looks nice.
0:26:53 > 0:26:56Yes, it's been completely renovated throughout.
0:26:56 > 0:27:00It's a 1960s bungalow, typical of the area.
0:27:00 > 0:27:02Three-bedroom semi.
0:27:02 > 0:27:04But the attraction with the three-bed,
0:27:04 > 0:27:07sometimes you don't want three places to sleep
0:27:07 > 0:27:10but they'd rather have a dining room that's separate to the sitting room.
0:27:10 > 0:27:14So how is business in the bungalow world?
0:27:14 > 0:27:16Very, very good.
0:27:16 > 0:27:18We literally, every time we put a bungalow on,
0:27:18 > 0:27:20we'll find a buyer for it.
0:27:20 > 0:27:22In fact, often more than one buyer.
0:27:22 > 0:27:25We've got huge demand and the supply,
0:27:25 > 0:27:27they just don't build them any longer.
0:27:27 > 0:27:30And Sue has also seen another growing trend
0:27:30 > 0:27:32that's increasingly placing these properties
0:27:32 > 0:27:34out of reach for many older people.
0:27:36 > 0:27:39Ten years ago when we started specialising,
0:27:39 > 0:27:43I would suggest that the bungalow buyer's typical age would be 65-70.
0:27:43 > 0:27:45Probably 50 now.
0:27:45 > 0:27:49I think people are recognising that there is going to be a shortage
0:27:49 > 0:27:53but I think people are cottoning on that if they don't get it then,
0:27:53 > 0:27:56they may not be available when they get to 65-70.
0:27:56 > 0:28:00Statistical analysis found that shortages in bungalow housing stock
0:28:00 > 0:28:04and high demand from Britain's 11 million over-65s
0:28:04 > 0:28:08are affecting prices, with the average bungalow
0:28:08 > 0:28:11commanding an asking price 16% higher
0:28:11 > 0:28:14than a traditional house.
0:28:14 > 0:28:19So, the crunch question - how much do bungalows cost?
0:28:19 > 0:28:21This is a three-bedroom bungalow.
0:28:21 > 0:28:23How much would this cost?
0:28:23 > 0:28:27This is on the market at £240,000, but it will get that level of price.
0:28:27 > 0:28:29So why aren't more being built?
0:28:29 > 0:28:32I think it's a land issue, to be honest with you.
0:28:32 > 0:28:34Builders have learned over the decades
0:28:34 > 0:28:37that if you've got a piece of land, the more you can get onto it,
0:28:37 > 0:28:40the greater your profit margin is going to be.
0:28:40 > 0:28:43Which, unfortunately, is bad news for May,
0:28:43 > 0:28:46who'd loved a single-storey place of her own,
0:28:46 > 0:28:51and who, until recently, spent most of her life living in bungalows.
0:28:51 > 0:28:56The first bungalow I lived in, I moved to when I was three years old.
0:28:56 > 0:28:59It was one that was built either during the war or just after.
0:28:59 > 0:29:03And I actually bought one of my own.
0:29:03 > 0:29:06That was a two-bed semidetached.
0:29:06 > 0:29:09Quite nice. I did it up fairly well.
0:29:09 > 0:29:11I spent quite a bit of money on it.
0:29:13 > 0:29:17But then I decided that I would really like to live in the country,
0:29:17 > 0:29:20so I sold it and I went to live on a farm.
0:29:20 > 0:29:24So you missed your bungalow? The space, it all being on one level...
0:29:24 > 0:29:25I absolutely missed it.
0:29:25 > 0:29:27It was so versatile.
0:29:27 > 0:29:32So, May, if someone said to you you can swap your lovely flat here
0:29:32 > 0:29:34for a bungalow, what would you say?
0:29:34 > 0:29:36Yes, please!
0:29:36 > 0:29:41Unfortunately, currently in the UK 26% of new housing
0:29:41 > 0:29:45is in the form of flats, while bungalows make up just 2%.
0:29:45 > 0:29:47Have you ever tried to rent one?
0:29:47 > 0:29:52No. I mean, I find they are very expensive to rent privately.
0:29:53 > 0:29:56There are very few bungalows around with the council
0:29:56 > 0:29:58and I have been told that to get a bungalow
0:29:58 > 0:30:00you have to have a disability of some sort,
0:30:00 > 0:30:01otherwise it's a flat.
0:30:04 > 0:30:06Well, there's no denying there's massive demand
0:30:06 > 0:30:08for more bungalows to be built.
0:30:08 > 0:30:12The trouble is people who have got bungalows are staying in them longer
0:30:12 > 0:30:15and developers aren't building bungalows because they don't make
0:30:15 > 0:30:19enough profit from them, so is there a solution?
0:30:21 > 0:30:23I'm meeting architect Neil Turner
0:30:23 > 0:30:27here at the national Self Build and Renovation Centre in Swindon
0:30:27 > 0:30:28to find out more.
0:30:28 > 0:30:31First up, what's his take on the great British bungalow?
0:30:33 > 0:30:35So, Neil, the bungalow.
0:30:35 > 0:30:38Is it a design classic, do you think?
0:30:38 > 0:30:40Yes, I think they are and I think they are much underrated
0:30:40 > 0:30:43and maligned, and I think it's about time that we started bringing them
0:30:43 > 0:30:45forward into the 21st century,
0:30:45 > 0:30:48as a real housing solution for modern day living.
0:30:48 > 0:30:52And part of this problem is because developers want
0:30:52 > 0:30:55to bring them high, and so that they earn more money
0:30:55 > 0:30:57from multiples of flats, rather than...
0:30:57 > 0:30:59The more they build, the more they can max out their profit.
0:30:59 > 0:31:02So what do we do about that? That's not going to go away, is it?
0:31:02 > 0:31:05No, it's not, and I understand the economic argument of that,
0:31:05 > 0:31:08and therefore a sensible mix when they get in
0:31:08 > 0:31:09their planning permissions,
0:31:09 > 0:31:12where they are sort of encouraged to put more of that mix
0:31:12 > 0:31:14of accommodation and to make a more successful...
0:31:14 > 0:31:16- Proper community.- Exactly.
0:31:16 > 0:31:18And that can be done through planning law.
0:31:19 > 0:31:21And yet there could be an old solution
0:31:21 > 0:31:24to this very contemporary problem - prefabs.
0:31:24 > 0:31:28We relied on them after the war, and over the last decade
0:31:28 > 0:31:30the idea of prebuilt kit homes that you put up
0:31:30 > 0:31:33where and when you can has increasingly been seen
0:31:33 > 0:31:36as a modern solution in places like Sweden.
0:31:36 > 0:31:40So could it be about to come here next?
0:31:40 > 0:31:41What is a prefab?
0:31:41 > 0:31:43What exactly is it?
0:31:43 > 0:31:44Can you get different types?
0:31:44 > 0:31:46Yeah, to try and define what prefab is,
0:31:46 > 0:31:49in essence, it's the elements of that built in a factory
0:31:49 > 0:31:51rather than constructed on the site.
0:31:51 > 0:31:53But is it ultimately the solution?
0:31:53 > 0:31:57If we can make more efficient, better built,
0:31:57 > 0:32:01smaller single-storey homes, I think it's part of a solution.
0:32:02 > 0:32:05Well, it certainly seems ingenious - in theory, at least.
0:32:05 > 0:32:09But I want to see what someone like May thinks,
0:32:09 > 0:32:12and to help us we've asked advisor Neil Davey to run us through
0:32:12 > 0:32:15what's available in kit form.
0:32:15 > 0:32:18- So, May, you want to get out of that flat.- Yeah.
0:32:18 > 0:32:22Have you ever thought about maybe building your own bungalow?
0:32:22 > 0:32:24I would love to, if I could afford it.
0:32:24 > 0:32:28So, how can she afford it, Neil?
0:32:28 > 0:32:30There are different build routes you can go through
0:32:30 > 0:32:32which actually save you money.
0:32:32 > 0:32:34Flatpack homes, houses that are made in factories,
0:32:34 > 0:32:36should become cheaper.
0:32:36 > 0:32:41And the more we do self build, that industry will grow,
0:32:41 > 0:32:43and that will bring the price down.
0:32:43 > 0:32:47So, how much would it cost May to buy a prefabricated bungalow?
0:32:48 > 0:32:50What sort of a bungalow are you looking for?
0:32:50 > 0:32:52- How many bedrooms? - Only two bedrooms.
0:32:52 > 0:32:57At 75 square metres, you're looking at about £135,000.
0:32:58 > 0:32:59Still not cheap.
0:32:59 > 0:33:03However, at around half the price of the bungalow we saw earlier,
0:33:03 > 0:33:05definitely an improvement.
0:33:05 > 0:33:08But while the flatpack house may be affordable,
0:33:08 > 0:33:12the land it sits on is another question altogether.
0:33:12 > 0:33:16With plots ranging from 50,000 to several millions,
0:33:16 > 0:33:20it begs the question of how can our ageing population,
0:33:20 > 0:33:22who are interested in having a bungalow built for them,
0:33:22 > 0:33:24ever afford the land?
0:33:24 > 0:33:26There might just be a solution on the horizon.
0:33:30 > 0:33:32The Right To Build act came out last year
0:33:32 > 0:33:38and councils are now under an obligation to provide land for self builders.
0:33:38 > 0:33:40So when they open up their boundaries for housing,
0:33:40 > 0:33:44they've got to think about so many plots for self builders.
0:33:44 > 0:33:46- OK.- That sounds a good idea,
0:33:46 > 0:33:49but providing they keep these plots at a good price,
0:33:49 > 0:33:53a reasonable price, for people like you who want to do a self build.
0:33:53 > 0:33:56Are they duty-bound to do that?
0:33:56 > 0:33:57They are.
0:33:59 > 0:34:02Well, we spend a huge part of our lives in our homes,
0:34:02 > 0:34:06so the kind of home you are in can have a huge impact
0:34:06 > 0:34:07on your quality of life.
0:34:07 > 0:34:13Perhaps that's why so many of you are saying, bring back the bungalow.
0:34:16 > 0:34:18OK, time now to return to Manchester,
0:34:18 > 0:34:22where, with the help of one of the country's leading pensions experts,
0:34:22 > 0:34:26Bill has been offering advice to those who need it now
0:34:26 > 0:34:28or in the future.
0:34:28 > 0:34:30We are in Manchester
0:34:30 > 0:34:34and for one day only we've set up our mobile pensions parlour...
0:34:36 > 0:34:37Hello.
0:34:37 > 0:34:40..where we're inviting people in for tea, biscuits
0:34:40 > 0:34:41and free financial advice.
0:34:41 > 0:34:43So, we're talking about pensions.
0:34:43 > 0:34:44Do you know what a pension is?
0:34:44 > 0:34:46I'm rounding them up...
0:34:46 > 0:34:48Roll up, roll up for your pension questions.
0:34:48 > 0:34:51..and our expert Michelle Cracknell is giving them advice.
0:34:51 > 0:34:54So, Michelle, how is it going so far, do you think?
0:34:54 > 0:34:57Well, we've had a great set of questions from people,
0:34:57 > 0:34:59and we often find people quite reluctant
0:34:59 > 0:35:02to talk about pensions because they think it's very confusing
0:35:02 > 0:35:06and very complicated, but really, when people come to us,
0:35:06 > 0:35:08all we're asking them to do is tell us about
0:35:08 > 0:35:11their personal situation and we'll do the complicated bit
0:35:11 > 0:35:15about thinking what implications that has on their pension.
0:35:15 > 0:35:16What would you like more of?
0:35:16 > 0:35:19I'd like to have more people asking questions,
0:35:19 > 0:35:22just specifically more young people understanding how
0:35:22 > 0:35:24they can think about their pension more
0:35:24 > 0:35:26and where to go to get help.
0:35:26 > 0:35:29We'll see what we can do for you.
0:35:29 > 0:35:33Roll up, roll up, ask your pension questions here.
0:35:33 > 0:35:35All the answers, free of charge.
0:35:35 > 0:35:36That's the way to do it.
0:35:38 > 0:35:42Come on, then. Pension questions for Holding Back The Years.
0:35:42 > 0:35:43Come and see me.
0:35:43 > 0:35:44And soon we were under way.
0:35:44 > 0:35:49First onto our comfy sofa was Brandon, a 21-year-old student.
0:35:49 > 0:35:51- So, look, have a biscuit. - I'll take a biscuit.
0:35:51 > 0:35:54Brandon is about to enter the workplace for the first time.
0:35:54 > 0:35:57Well, Michelle said she did want them young.
0:35:57 > 0:35:59I would imagine you probably haven't done much about a pension.
0:35:59 > 0:36:02- Not just yet.- OK, what's your question for Michelle?
0:36:02 > 0:36:05Obviously, at the moment it's not really my biggest forethought
0:36:05 > 0:36:07but it's having the plans in preparation for that
0:36:07 > 0:36:10as an actor and self-employed, so how would I go about that, I guess?
0:36:10 > 0:36:13Well, it's a great question because obviously the sooner you start
0:36:13 > 0:36:16thinking about pensions, the easier it is to save.
0:36:16 > 0:36:18As a self-employed person, obviously,
0:36:18 > 0:36:21it's all down to you and managing your money,
0:36:21 > 0:36:23and whilst I wouldn't advocate at your young age
0:36:23 > 0:36:26that you should be investing all of that into a pension,
0:36:26 > 0:36:28because of course pensions are locked away
0:36:28 > 0:36:31and you can't access them to at least age 55,
0:36:31 > 0:36:34at least putting it away into some savings,
0:36:34 > 0:36:37then you are starting to think about putting that money aside
0:36:37 > 0:36:39and as and when the time comes,
0:36:39 > 0:36:43you could start popping that into a pension as well.
0:36:43 > 0:36:47There are about 4.5 million people in the UK who are self-employed
0:36:47 > 0:36:49and this number is rising.
0:36:49 > 0:36:53And yet the total of self-employed people saving into a pension
0:36:53 > 0:36:56has halved. If you're self-employed,
0:36:56 > 0:36:58you won't have an employer adding money to your pension
0:36:58 > 0:37:02but there are still some tax breaks you shouldn't miss out on.
0:37:03 > 0:37:06You'll get tax relief on your pension contributions,
0:37:06 > 0:37:08usually up to £40,000 a year.
0:37:08 > 0:37:11And this means if you're a basic rate taxpayer,
0:37:11 > 0:37:14for every £100 you pay into your pension,
0:37:14 > 0:37:16the government will add an extra £25.
0:37:16 > 0:37:19But how much should Brandon put away?
0:37:19 > 0:37:21Michelle, over to you.
0:37:21 > 0:37:23One of the rules of thumbs in pensions
0:37:23 > 0:37:26is when you start your pension scheme,
0:37:26 > 0:37:28you should put in half your age.
0:37:28 > 0:37:32So, for example if you start your pension at age 22,
0:37:32 > 0:37:35you should be putting in 11% of your salary into a pension scheme.
0:37:35 > 0:37:38I know that is a big scary number, and again,
0:37:38 > 0:37:40we would say to people, what can you afford,
0:37:40 > 0:37:43and get into the habit of putting something away.
0:37:43 > 0:37:46And after that, they just kept on coming.
0:37:46 > 0:37:49Amanda is a 52-year-old stay-at-home mother.
0:37:49 > 0:37:51Having recently separated, however,
0:37:51 > 0:37:54she has gone back to work and enrolled in a workplace pension
0:37:54 > 0:37:56to make some provisions for her future
0:37:56 > 0:37:59but there may be options she hasn't thought of.
0:37:59 > 0:38:02You might also have a state pension entitlement,
0:38:02 > 0:38:04because whilst you haven't been working,
0:38:04 > 0:38:08whilst you were having your children and receiving child allowance,
0:38:08 > 0:38:11you would have been getting National Insurance credits
0:38:11 > 0:38:13toward a state pension.
0:38:13 > 0:38:15So something else just to check up.
0:38:15 > 0:38:20Go onto the gov.uk website and ask for a state pension forecast.
0:38:20 > 0:38:23If you don't have the full state pension entitlement,
0:38:23 > 0:38:26it could be that you could use some of your savings
0:38:26 > 0:38:29to actually buy voluntary National Insurance contributions
0:38:29 > 0:38:30to build that up as well.
0:38:30 > 0:38:33It is an issue, though, for people like Amanda,
0:38:33 > 0:38:36if they have been stay-at-home mums all these years,
0:38:36 > 0:38:39bringing up their kids and then they separate,
0:38:39 > 0:38:41that is a challenge for you, isn't it?
0:38:41 > 0:38:43Of course, yeah.
0:38:43 > 0:38:47If you did go for a break, a divorce and get a financial settlement,
0:38:47 > 0:38:51then your husband would be required to declare his pensions
0:38:51 > 0:38:53and you would have a share of that.
0:38:53 > 0:38:56However, you know, it's suddenly very intimidating
0:38:56 > 0:38:58because you do still need to manage that money
0:38:58 > 0:39:01and convert whatever sum you might get as part
0:39:01 > 0:39:04of a financial settlement into retirement income.
0:39:04 > 0:39:06So certainly things to think about.
0:39:06 > 0:39:08Thank you. Thank you for your advice.
0:39:08 > 0:39:10Thanks very much.
0:39:10 > 0:39:14Sometimes, of course, it's not your life situation that changes
0:39:14 > 0:39:15but your pension itself.
0:39:15 > 0:39:17That's the dilemma facing Gerard,
0:39:17 > 0:39:21who wanted some advice on recent changes to the terms and conditions
0:39:21 > 0:39:23of his final salary pension.
0:39:23 > 0:39:27As Michelle explains, this isn't unusual these days.
0:39:27 > 0:39:30Now, I think a number of the pension schemes,
0:39:30 > 0:39:32and this could be happening to yours,
0:39:32 > 0:39:35instead of averaging your last three years of salary,
0:39:35 > 0:39:39they are actually going to average your whole salary history
0:39:39 > 0:39:42- throughout the whole of your career...- OK.
0:39:42 > 0:39:43..with the organisation.
0:39:43 > 0:39:47Now, obviously, that could have an impact on the final income.
0:39:47 > 0:39:52It could be the level of income you were expecting to retire on
0:39:52 > 0:39:56is lower than the previous rules that applied to the scheme.
0:39:56 > 0:39:57- OK.- I mean, it can be unsettling,
0:39:57 > 0:39:59when you are putting into your pension
0:39:59 > 0:40:01and you are solidly employed over the years
0:40:01 > 0:40:04and then all of a sudden the scheme changes.
0:40:04 > 0:40:06I'm afraid it is very unsettling.
0:40:06 > 0:40:09If they make any changes to a workplace pension scheme,
0:40:09 > 0:40:12they are required to consult with you, so they will be sending you out
0:40:12 > 0:40:14quite a lot of correspondence,
0:40:14 > 0:40:16and we also are a government organisation,
0:40:16 > 0:40:19so if you get very confused you can phone us up
0:40:19 > 0:40:22and we can try and answer the questions specific
0:40:22 > 0:40:24- to your personal circumstances.- OK.
0:40:25 > 0:40:27- Lovely.- Thank you. - Excellent, goodbye.
0:40:27 > 0:40:29Next into our parlour is Bill.
0:40:29 > 0:40:33He is 72 and currently receiving a workplace pension
0:40:33 > 0:40:34and a state pension.
0:40:34 > 0:40:37His question is about what will happen to it
0:40:37 > 0:40:38when he's no longer around.
0:40:38 > 0:40:41I unfortunately lost my wife...
0:40:41 > 0:40:44..21 years ago, but I do have a partner,
0:40:44 > 0:40:48and I'm just wondering if she would be able to claim
0:40:48 > 0:40:50if anything occurred to me.
0:40:50 > 0:40:53In the past, pensions used to be provided on death to widows
0:40:53 > 0:40:56and widowers only, but more recently,
0:40:56 > 0:40:59schemes have updated it to include partners.
0:40:59 > 0:41:02I would really recommend that you do contact
0:41:02 > 0:41:04the pension scheme's administrator.
0:41:04 > 0:41:07Tell them your situation and see whether there is an entitlement
0:41:07 > 0:41:11for your partner and whether you need to complete any forms
0:41:11 > 0:41:15with her details in order that she does get something on your death.
0:41:15 > 0:41:18I'll have a wee think on that. Thank you very much.
0:41:18 > 0:41:21So it's important if you're not married, but you want somebody
0:41:21 > 0:41:23to benefit from your pension later,
0:41:23 > 0:41:27- then you have to make sure you get the paperwork done.- Absolutely.
0:41:27 > 0:41:29Unless you complete the form, they don't know...
0:41:29 > 0:41:31- Exactly!- ..who else you would wish to receive the money.
0:41:31 > 0:41:33Well, that's very helpful.
0:41:33 > 0:41:35And are you enjoying your retirement, Bill?
0:41:35 > 0:41:37I certainly am. I can recommend it.
0:41:37 > 0:41:38Excellent.
0:41:40 > 0:41:43And with that, it's time to close our pensions parlour.
0:41:43 > 0:41:47We've answered lots of questions and hopefully done some real good.
0:41:47 > 0:41:50I don't know about Michelle but I'm exhausted.
0:41:50 > 0:41:54Luckily, there are still some tea and biscuits left.
0:41:54 > 0:41:56Oh, that sounds lovely. Thank you.
0:41:56 > 0:41:58So, Michelle, I think a very useful day.
0:41:58 > 0:42:00Met some interesting people.
0:42:00 > 0:42:02What do you think are the three top tips
0:42:02 > 0:42:04that you can give people on pensions?
0:42:04 > 0:42:06I think the first one is it's never too young to start.
0:42:06 > 0:42:09It's been fantastic, we've had some young people today
0:42:09 > 0:42:12that are in pensions schemes and putting something aside
0:42:12 > 0:42:13for their retirement.
0:42:13 > 0:42:15The second one, for the freelancers
0:42:15 > 0:42:16and the self-employed people,
0:42:16 > 0:42:17you do get tax relief
0:42:17 > 0:42:19on those pension contributions,
0:42:19 > 0:42:20so if you put them in
0:42:20 > 0:42:21in the right year,
0:42:21 > 0:42:24it could really help your savings.
0:42:24 > 0:42:27And finally, my third tip, don't be afraid to ask questions.
0:42:27 > 0:42:31We are the government helpline and we'll worry about the complicated
0:42:31 > 0:42:35pension bit and hopefully explain it to you in a way that you can get
0:42:35 > 0:42:38the most and therefore get the highest retirement income.
0:42:38 > 0:42:41Well, Michelle, it's been invaluable having you
0:42:41 > 0:42:44- with us today and thank you so much for your help.- Thank you.
0:42:44 > 0:42:46Well, that was a really rather successful first outing
0:42:46 > 0:42:48for the pension patrol, I thought.
0:42:48 > 0:42:51Still, loads of questions to be answered, so who knows,
0:42:51 > 0:42:55our comfy seats might be coming to a shopping centre near you.
0:42:57 > 0:42:59And quickly, let's give you the answer to our
0:42:59 > 0:43:01What Was The Year That Was archive quiz. Fiona?
0:43:01 > 0:43:04Very quickly, 1989.
0:43:04 > 0:43:06A very big year - the year that the Berlin Wall came down.
0:43:06 > 0:43:08It was indeed.
0:43:08 > 0:43:10OK. The shutters are coming down on this programme.
0:43:10 > 0:43:14- Until tomorrow, see you then. - Bye-bye.
0:43:14 > 0:43:18# It ain't much I'm asking, if you want the truth
0:43:18 > 0:43:22# Here's to the future, hear the cry of youth
0:43:22 > 0:43:27# I want it all, I want it all
0:43:27 > 0:43:32# I want it all and I want it now
0:43:32 > 0:43:38# I want it all, I want it all
0:43:38 > 0:43:42# I want it all and I want it now... #