:00:00. > :00:00.Tonight, we take an old bus to the bdach
:00:00. > :00:13.Find out how to ruin your retirement.
:00:14. > :00:18.'Well, no, because the monex is not coming out of the pension fund.'
:00:19. > :00:22.And film an ex`footballer on the run.
:00:23. > :00:28.How was it for you? A difficult one.
:00:29. > :00:43.I'm John Cuthill, and this hs Inside Out for the South of England.
:00:44. > :00:48.First tonight, a new survey for Inside Out
:00:49. > :00:51.has found that almost one in five of us don't trust pension comp`nies,
:00:52. > :00:54.and that just as many of us are looking to alternatives to secure
:00:55. > :00:57.our futures, such as investing in property.
:00:58. > :00:59.Well, we took a road trip to find out
:01:00. > :01:02.about the state of pensions across the South.
:01:03. > :01:14.Previous generations retired at 60, got on with the gardening, `nd were
:01:15. > :01:22.But with life expectancy continuing to rise, even if we retire later,
:01:23. > :01:27.These days, most of Britain's workers don't have
:01:28. > :01:31.a pension sorted, which could leave us relying entirely on the state.
:01:32. > :01:35.Or, like our 65`year`old bus and its 70`year`old driver Lervin,
:01:36. > :01:41.I enjoy it, and I'm a part of the busindss.
:01:42. > :01:43.It's a nice job, you meet nice people,
:01:44. > :01:52.I did invest into a pension, but it went down the pan.
:01:53. > :01:56.Today, we're on a trip to the seaside, and where bettdr to
:01:57. > :02:02.Half of our passengers on our 1949 Bedford bus are retired.
:02:03. > :02:05.The other half are pension refuseniks, a handful of Brhtain's
:02:06. > :02:09.13 million company employees who don't have a private pension.
:02:10. > :02:14.The government's rolling out a scheme to try and put that right.
:02:15. > :02:18.Are we ready? ALL: Yes! Let's go.
:02:19. > :02:20.Autoenrolment makes it a legal requirement for companies to sign
:02:21. > :02:25.up staff to a pension, but hf you earn less than ?10,000, you won t
:02:26. > :02:29.qualify, and anyone self`employed will have to sort themselves out.
:02:30. > :02:35.Here's a question for you. Hands up: Who has got a pension
:02:36. > :02:45.Saving up for a pension, putting money aside each month,
:02:46. > :02:49.I'm Adam Fox. I'm 27. I'm a senior colour technichan.
:02:50. > :02:53.I get paid ?500 a month at the moment with my training, so there's
:02:54. > :02:57.absolutely no extra funds there for pensions and things likd that.
:02:58. > :03:07.No. I'm Katie, I'm 26, I'm ` carer. I'm on ?6.50 an hour.
:03:08. > :03:11.I'm still doing my studying, so it's not beneficial to md to pay
:03:12. > :03:18.Hilda? Look what just came. What's that?
:03:19. > :03:22.It's your letter from the Qteen Is it? It is!
:03:23. > :03:26.Hilda's celebrating her 100th birthday today.
:03:27. > :03:29.These days, you're 44 times more likely to do the same than 60 years
:03:30. > :03:32.ago, which has prompted the government to make the most sweeping
:03:33. > :03:38.Hello there! Welcome aboard. Hi, Steve.
:03:39. > :03:42.Time to make room on the bus for Minister of State for Pdnsions
:03:43. > :03:45.Steve Webb, the man responshble for the radical reforms.
:03:46. > :03:48.The first thing we've got to do is get millions of people
:03:49. > :03:50.into a pension at all, parthcularly starting with young people,
:03:51. > :03:53.and then we've got to get pdople to build a basic minimum level.
:03:54. > :03:56.So, 8% of your salary, for most people, won't get xou
:03:57. > :03:59.It's a start, but we've got to build on that.
:04:00. > :04:04.Once you get a pension, then you're going to be nailed by chargds.
:04:05. > :04:08.In the past, too many people have been rhpped
:04:09. > :04:12.These new workplace pensions will be different, because we're gohng to
:04:13. > :04:15.cap the charges, so from next April, more than 99p in the pound that you
:04:16. > :04:18.put into a pension will go into pension, not into charges, so
:04:19. > :04:21.they'll be the best value pdnsions, particularly because your fhrm's
:04:22. > :04:25.One of the best things you can invdst in.
:04:26. > :04:28.With a captive audience, Stdve Webb can't resist the opportunitx to
:04:29. > :04:32.So, tell me about your pensions experience.
:04:33. > :04:36.Do you think you're never going to have one?
:04:37. > :04:40.I do events and weddings and things like that.
:04:41. > :04:43.And I don't think the return that you'll get from
:04:44. > :04:50.Instead of a pension, he's opted for a buy`to`let.
:04:51. > :04:54.My property's going to rent out to students in Southampton.
:04:55. > :04:55.Really high student population there.
:04:56. > :04:59.And it's right in the centrd of town, so it's a wicked location,
:05:00. > :05:02.and it's always going to rent, no matter what.
:05:03. > :05:06.37`year`old Balvinder Singh has frozen his private pension,
:05:07. > :05:10.put off by the constantly increasing retirement age.
:05:11. > :05:13.I don't trust pensions, because I don't know how much I will
:05:14. > :05:16.get, and when I'm going to get that, because they keep increasing every
:05:17. > :05:21.day, and sometimes, they sax 60 65, now they say 70 years.
:05:22. > :05:25.I don't know that I'm going to live that time!
:05:26. > :05:27.From listening to people, I can understand why people may want
:05:28. > :05:30.to do things in addition to pension, but they should consider pension
:05:31. > :05:35.And for people that think it's too hard, there's always somethhng,
:05:36. > :05:38.a little something, that will make it easier for them, such as if they
:05:39. > :05:41.work for an employer, it cotld be the employer could contribute
:05:42. > :05:45.So ask the question, phone people like us at the Pensions Advhsory
:05:46. > :05:48.Service, and we can give people little hints to make it helpful
:05:49. > :05:52.But don't just rely on one source of income in retirement.
:05:53. > :06:04.Things are different on the retired side of the bus, where
:06:05. > :06:08.some have the sort of gold`plated final salary schemes that anyone
:06:09. > :06:12.who's signing up to a pension now will probably never get.
:06:13. > :06:16.I don't see myself as being in any way privileged.
:06:17. > :06:19.I see myself as having workdd in public service
:06:20. > :06:23.for a relatively reasonable salary, but the attraction
:06:24. > :06:27.of it was always the reason`ble pension at the end of the d`y.
:06:28. > :06:31.Pension, pretty good, reallx, because it's index`linked, `nd I
:06:32. > :06:36.know from year to year exactly what it is I'm probably going to get
:06:37. > :06:42.Yes, I ended up with a final salary scheme, which I'd
:06:43. > :06:47.been with the same company for 0 years, and was rewarded for that
:06:48. > :06:56.But not all pensioners are as fortunate.
:06:57. > :07:02.I'm 67, and I survive on a basic pension, which is about ?72 a week.
:07:03. > :07:10.I'm Reg. I'm 78, and my state pension is about ?640 a month.
:07:11. > :07:15.Plus, I have a private penshon, which is ?150 a month.
:07:16. > :07:19.Between them, that's an income of roughly ?13,000 a year.
:07:20. > :07:23.Recently, ?17,000 per household was quoted as the amount needed
:07:24. > :07:31.When you're young, you don't think about 40 years hence, do yot?
:07:32. > :07:36.It sort of creeps up on you until you suddenly get to about 45,
:07:37. > :07:45.Because I think if we did, we could get a bit depressed.
:07:46. > :07:50.Compared to men, three times as many women retire with no private
:07:51. > :07:57.I'm Lynne. I'm 58, and I run a B in Lee`on`the`Solent.
:07:58. > :08:00.I don't have a pension in my own right.
:08:01. > :08:03.I've worked all my life, but I didn't really think I'd need
:08:04. > :08:06.one, because my husband had quite a few pensions, but unfortunately,
:08:07. > :08:11.Lynne does get some of her late husband's naval pension,
:08:12. > :08:16.I get just below ?500 a month, which is a portion
:08:17. > :08:22.It's tough, because I've got to work now to get
:08:23. > :08:32.To be honest, everybody's got to work now, till
:08:33. > :08:34.Joan's 93 and has been retired for 30 years.
:08:35. > :08:37.She think there's been a cultural shift towards spending now rather
:08:38. > :08:43.I don't think nowadays, people know how to save, young people.
:08:44. > :08:49.Because they've never had to save. It's a throwaway society.
:08:50. > :08:55.They've never had to make do and mend like we had to.
:08:56. > :08:58.As the Pensions Special rolls down the promenade, time for somd words
:08:59. > :09:02.of warning for those of us who might still have our heads in the sand.
:09:03. > :09:06.The majority of workers don't have pension savings.
:09:07. > :09:10.So anyone on that side of the bus, you're not alone.
:09:11. > :09:12.There's lots of people like you out there.
:09:13. > :09:19.However, the main message h`s to be, if you don't save for your later
:09:20. > :09:26.The state pension, certainlx for those who are relativelx young
:09:27. > :09:32.now, is changing dramatically, and from 2016 onwards, younger
:09:33. > :09:37.people will know that when they get to retirement, the state pension is
:09:38. > :09:44.Now, if you think you'd be happy living on ?20 a day for the rest
:09:45. > :09:47.of your life when you've re`ched retirement, fine.
:09:48. > :09:53.But if you think you might want more than ?20 a day, to have a ddcent
:09:54. > :10:00.lifestyle, then unless you do some saving now, you won't have `ny money
:10:01. > :10:06.So, it's all about being prdpared. Or is it?
:10:07. > :10:10.I was planning to start sorting out my pension at the age of around 40,
:10:11. > :10:13.which after today, I've realised is far too late.
:10:14. > :10:19.I think we're more like other business and livd
:10:20. > :10:21.for today, because you never know what's going to happen tomorrow
:10:22. > :10:23.My business is going good. Property's going well,
:10:24. > :10:26.so I'm quite happy with how things are going, I think.
:10:27. > :10:34.When it comes to keeping our heads above water when we retire, we're
:10:35. > :10:46.And I'd love to hear your thoughts on that issue.
:10:47. > :10:50.You can get in touch via the e`mail on the screen.
:10:51. > :10:54.Next, we go undercover to expose one of the biggest scams in the pensions
:10:55. > :10:58.industry, which is leaving lany of its victims penniless.
:10:59. > :11:09.When we take out a pension, it's all about securing our future,
:11:10. > :11:17.But what happens if I want to cash mine in before I'm 55?
:11:18. > :11:22.Well, according to some companies, age is no barrier.
:11:23. > :11:27.In fact, that's what they c`ll it ` Pension Liberation.
:11:28. > :11:32.When Geoff from Portsmouth needed to free up some cash, one scheme
:11:33. > :11:37.You're using your own money, you have all
:11:38. > :11:40.your pension plans that you put together into one pot, so, xeah
:11:41. > :11:44.what could be better than using your own money to pay off a lot
:11:45. > :11:48.of outstanding debts, and not having to pay it back, and no tax hssues?
:11:49. > :11:54.The scheme freed up ?21,000 in cash, but Geoff's relief was short`lived.
:11:55. > :11:57.First, the pensions regulator, and then the High Court,
:11:58. > :12:02.ruled he had taken what's c`lled an "unauthorised payment".
:12:03. > :12:03.Everything is now completely changed.
:12:04. > :12:06.They now want the money back, plus up to...
:12:07. > :12:08.We still don't know exactly how much.
:12:09. > :12:11.The great thing about pensions is that they are tax`efficient.
:12:12. > :12:14.In other words, we get tax relief on them to encourage us to save
:12:15. > :12:23.And if you try to cash yours in before you're 55, cutting those
:12:24. > :12:28.You'll have to pay up to 70$ of what you get back in tax.
:12:29. > :12:42.'You actually cannot take anything from your pension until age 55.
:12:43. > :12:52.Now, he might have to pay b`ck the taxman thousands of pounds.
:12:53. > :13:00.You just feel dead inside, and you can't do anything.
:13:01. > :13:02.It's just absolutely... You are left in limbo.
:13:03. > :13:04.But Geoff's not alone. Many of the people here
:13:05. > :13:13.Some, as they've told me, face financial ruin.
:13:14. > :13:15.It is why they have formed this support group.
:13:16. > :13:19.schemes were very, very, cr`fty very clever, very slick, very
:13:20. > :13:29.It has been devastating, thdre are numerous people who have sahd to me
:13:30. > :13:33.they sometimes feel that thd only way out of this misery is to commit
:13:34. > :13:41.For those of us stuck in a financial hole, freeing up our
:13:42. > :13:44.pension pot may seem like the light at the end of the tunnel, btt the
:13:45. > :13:49.people I have met so far sax they were kept in the dark about tax
:13:50. > :13:51.That is why I am doing my own research.
:13:52. > :13:54.I want to find out if companies are really telling
:13:55. > :14:01.I can cash my pension in early and not pay tax.
:14:02. > :14:05.So, we will start with the initial pension, 37,600.
:14:06. > :14:09.Now this company is going to take away a certain amount in feds.
:14:10. > :14:13.What you are left with his 25,8 2, which is 68% of your pension.
:14:14. > :14:20.But what it doesn't tell yot is that HMRC are going to also take
:14:21. > :14:24.a further 55%, minimum, which leaves you with
:14:25. > :14:31.That is a frightening thought, but are companies are setting out
:14:32. > :14:33.to mislead, or just being short on facts?
:14:34. > :14:39.I am hoping a few calls will help me to find out.
:14:40. > :14:41.We have chosen a selection of companies at random
:14:42. > :14:44.and I have asked pensions expert Richard Jacobs to listen in.
:14:45. > :14:48.I was wondering whether you guys could help...
:14:49. > :14:52.I'm pretending to be 48, so if I did cash in my penshon there
:14:53. > :14:57.You cannot take money out of your pension before 55.
:14:58. > :15:05.The first company knows the rules, OK, so you never know,
:15:06. > :15:09.Operation Scorpion might have something to do with that.
:15:10. > :15:11.It is what the police and pensions regulators are calling
:15:12. > :15:14.their crackdown on pension liberations comp`nies.
:15:15. > :15:16.Since it's been set up, it's investigated
:15:17. > :15:26.We've been making a few mord calls.
:15:27. > :15:29.I want to know what Richard thinks of them.
:15:30. > :15:32.I would just like you to listen to it and try and
:15:33. > :15:55.We have made it clear I am tnder 55, but need cash and fast.
:15:56. > :15:57.The money's generated at 20% of the valte
:15:58. > :16:01.and those monies will be pahd back to you through another channel.
:16:02. > :16:04.If you switch your pension fund you will receive 20% as a v`lue
:16:05. > :16:13.Whoever that business is, if money is coming out it h`s to
:16:14. > :16:15.There is no money magicked from somewhere.
:16:16. > :16:19.But that is pension liberathon, whatever names they put on ht.
:16:20. > :16:24.But he knows I am under 55, so I will have to pay tax, right?
:16:25. > :16:27.Well, no, because the money is not coming out of the pension ftnd.
:16:28. > :16:30.No tax for taking out your pension early?
:16:31. > :16:37.In fact, of the nine companhes we contacted online and on the phone,
:16:38. > :16:44.If there is tax due, HMRC h`s to apply it, that is the way
:16:45. > :16:49.If you have access to money from your pension pot that breaks
:16:50. > :16:53.the tax rules, we have to charge you the tax because you got a t`x relief
:16:54. > :17:01.A lesson the victims are le`rning the hard way.
:17:02. > :17:06.I'm not sleeping, giving evdrybody else a lot of grief at work and at
:17:07. > :17:19.Finally tonight, you have probably heard of the ice bucket challenge,
:17:20. > :17:29.But some people go the extr` mile, like Ince Saints player Francis
:17:30. > :17:40.Since I have retired from playing professional football, therd is
:17:41. > :17:46.always some sort of void, you know, you miss about thd game.
:17:47. > :17:48.Francis Benali is one of Southampton's most popul`r
:17:49. > :17:56.A fearless left back in his prime he was known
:17:57. > :18:01.I have always tried to keep in shape, keep fit.
:18:02. > :18:04.I thought, whilst the body hs still in a decent enough condition, it
:18:05. > :18:08.would be a shame to not really do something that could do somd good.
:18:09. > :18:11.Franny will be attempting to run from Newcastle to Southampton,
:18:12. > :18:15.stopping at every Premiershhp football ground in the country.
:18:16. > :18:19.Over the next 21 days he will cover nearly 1000 miles,
:18:20. > :18:27.I know I am not going to brdeze through this, there will be some
:18:28. > :18:30.really tough days and dark loments, I am sure, and I will be running
:18:31. > :18:36.around 40`45 miles every single day for the three weeks.
:18:37. > :18:39.Franny's motivation is simple ` to raise as much money
:18:40. > :18:51.as he can for Cancer Research, a charity close to his heart.
:18:52. > :18:53.We have been affected by cancer as a family.
:18:54. > :18:56.My mum has been affected, mx wife, both her grandfathers died
:18:57. > :18:59.It is something that has totched probably most families in
:19:00. > :19:06.It is the opening morning of the challenge in Newcastle.
:19:07. > :19:09.Worrying for Franny and his physio, Kelly, he is carrying
:19:10. > :19:17.Franny just had a little bit of fluid behind his knee that he has
:19:18. > :19:20.had previously, so we are going to control that, more than anything,
:19:21. > :19:33.What chance have I got runnhng 000 miles when I can't even get
:19:34. > :19:37.That is a thick ex`footballdr for you, isn't it?
:19:38. > :19:46.The point of departure, and the first stadium
:19:47. > :19:55.of the challenge is St James' Park, home of Newcastle United.
:19:56. > :19:57.Seeing him off is his old Southampton pal,
:19:58. > :20:02.I cycled down to London a fdw years ago, cycling was hard enough, one of
:20:03. > :20:12.For him to be running from here to Southampton with
:20:13. > :20:16.a few stops at every ground, he is going to need a lot of stpport,
:20:17. > :20:24.It is for a great cause and I wish him luck ` he will need it
:20:25. > :20:32.Hundreds of miles of A roads, B roads and country tracks lid ahead.
:20:33. > :20:41.Friends and family will be running with Franny along the way,
:20:42. > :20:44.as well as a few players, stpporters and staff from Cancer Research.
:20:45. > :20:47.Six and a half miles at this point, just easing into it nicely.
:20:48. > :20:50.All of the support team is here perfect.
:20:51. > :20:55.A couple of hours later, Franny arrives at Sunderland,
:20:56. > :21:03.It is great, you know, nice to get to the stadium.
:21:04. > :21:23.Really tough day today, the mileage, I find it difficult in my ldgs.
:21:24. > :21:34.My legs are really sore and fatigued, but I think it felt
:21:35. > :21:36.worse this evening, whilst getting some treatment at the moment,
:21:37. > :21:56.It is day two, we have an up and over the
:21:57. > :21:59.Yorkshire Moors, no clubs today to hit, but absolutely amazing views.
:22:00. > :22:01.Running a little bit better today, but still tight in there.
:22:02. > :22:12.Day five, and Franny meets up with another old
:22:13. > :22:20.friend, former Saints strikdr James Beattie, as he arrives at Btrnley.
:22:21. > :22:25.With over 200 miles covered, time for a nice warm `
:22:26. > :22:50.After taking in all the big four Northwest teams, Franny runs
:22:51. > :23:01.I'm really delighted the dax is over, I am in quite a bit of pain in
:23:02. > :23:09.I'm going to dashstraight to the accommodation where we are
:23:10. > :23:11.tonight and start getting some physio and treatment.
:23:12. > :23:14.The next morning, Franny is back on the road
:23:15. > :23:24.Along the way he is supportdd by his son, Luke, daughter, Kenzie,
:23:25. > :23:32.But as he clocked up runs across the Midlands, they bdcome
:23:33. > :23:41.And halfway through the challenge on the Welsh border,
:23:42. > :23:44.emotions start to show as Franny speaks to his daughter, Kenzie. Dad,
:23:45. > :24:03.It is a tough moment for Fr`nny s son, Luke.
:24:04. > :24:05.Seeing him cry like that, having never seen him cry
:24:06. > :24:11.He has obviously been physically tired for the last two weeks.
:24:12. > :24:15.Emotionally it is starting to really take its toll now.
:24:16. > :24:24.He is like a kid at the momdnt, trying to make him eat, force him.
:24:25. > :24:27.But he cannot stomach anythhng, he won't touch anything mord than
:24:28. > :24:30.a bit of fruit and yoghurt, really, so it is difficult.
:24:31. > :24:48.The next day, Franny is just about on his feet, but he is still
:24:49. > :24:50.His physiotherapist, Kelly, is worried.
:24:51. > :24:54.Just don't feel great at all, you know?
:24:55. > :24:54.I know, but you haven't eatdn anything substantial since
:24:55. > :25:02.If we were doing it, what would you be telling us?
:25:03. > :25:09.I would be saying the same thing I know.
:25:10. > :25:17.He could not stomach is meal, struggled to get him to eat
:25:18. > :25:21.breakfast this morning and obviously it is affecting his energy levels.
:25:22. > :25:24.His body is burning what is not there, so the long`term restlts will
:25:25. > :25:28.be that it starts to burn mtscle, which is what we want to avoid.
:25:29. > :25:32.Franny gets back on the road, but by the end of the day he is exhausted.
:25:33. > :25:35.My weight has dropped, and the fact I have not been eating and
:25:36. > :25:49.I'm not replacing the calories I am burning, so..
:25:50. > :25:55.Now finally taking on more food he moves on from Wales
:25:56. > :26:02.across to London, ticking off all six of the capital stadium.
:26:03. > :26:04.across to London, ticking off all six of the capital stadia.
:26:05. > :26:08.838 miles and 21 days in, the final leg takes him to his home
:26:09. > :26:41.Southampton. We love you, Franny, or, Franny, we love you!
:26:42. > :26:50.The amount of fans that came out is incredible.
:26:51. > :26:53.I cannot physically put it into words.
:26:54. > :27:02.Franny has raised over ?100,000 for Cancer Research UK,
:27:03. > :27:08.and he is now due well earndd rest with his, Karen.
:27:09. > :27:11.and he is now due well earndd rest with his wife, Karen.
:27:12. > :27:13.He is incredible, to have done what he has done.
:27:14. > :27:17.I don't know how he got up dvery day, feeling how he was,
:27:18. > :27:19.running through pain, and did that every single d`y.
:27:20. > :27:26.I think there will be a timd to reflect upon this and comprdhend
:27:27. > :27:32.what has happened, but I am sure I will look back with fondness when my
:27:33. > :27:45.Well done, Franny Benali, great effort.
:27:46. > :27:49.I am all out of puff, you whll have to come back next time, 7:30pm,
:27:50. > :27:55.Next week, we will be following the parking
:27:56. > :27:58.enforcers on the trail of fraudsters who abuse the rights of Portsmouth's
:27:59. > :28:02.Why is there a disabled badge on your car?
:28:03. > :28:20.On the 27th of January, 2014, Inside Out broadcast
:28:21. > :28:25.an item related to nationwide gritting services Limited.
:28:26. > :28:36.The programme suggested that NGS's facility at Southampton docks was
:28:37. > :28:39.unsafe, with electrical equhpment that gave electrical shocks to two
:28:40. > :28:42.workers at the site and that there were no facilities for thesd workers
:28:43. > :28:46.The programme also suggested two workers were paid
:28:47. > :28:48.below the minimum wage, but that NGS produced false documents after
:28:49. > :28:52.We accept these allegations were false
:28:53. > :29:03.We apologise to NGS for publishing these allegations.
:29:04. > :29:05.Hello, I'm Ellie Crisell with your 90 second update.
:29:06. > :29:08.There's no return if you decide to leave the UK.
:29:09. > :29:11.David Cameron's message to Scotland ahead of this week's vote over
:29:12. > :29:15.The Yes campaign's Alex Salmond has branded claims that prices
:29:16. > :29:21.Two British tourists have been murdered on a beach in Thailand
:29:22. > :29:25.Police said 24-year-old David Miller and Hannah Witheridge, who's 23
:29:26. > :29:30.He's the child cancer specialist who's admitted abusing young boys
:29:31. > :29:35.Dr Myles Bradbury worked at Addenbrookes in Cambridge.
:29:36. > :29:38.He pleaded guilty to 25 sexual offences.
:29:39. > :29:47.It's because the company can't afford to keep