15/09/2014 Inside Out South


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Tonight, we take an old bus to the bdach


Find out how to ruin your retirement.


'Well, no, because the monex is not coming out of the pension fund.'


And film an ex`footballer on the run.


How was it for you? A difficult one.


I'm John Cuthill, and this hs Inside Out for the South of England.


First tonight, a new survey for Inside Out


has found that almost one in five of us don't trust pension comp`nies,


and that just as many of us are looking to alternatives to secure


our futures, such as investing in property.


Well, we took a road trip to find out


about the state of pensions across the South.


Previous generations retired at 60, got on with the gardening, `nd were


But with life expectancy continuing to rise, even if we retire later,


These days, most of Britain's workers don't have


a pension sorted, which could leave us relying entirely on the state.


Or, like our 65`year`old bus and its 70`year`old driver Lervin,


I enjoy it, and I'm a part of the busindss.


It's a nice job, you meet nice people,


I did invest into a pension, but it went down the pan.


Today, we're on a trip to the seaside, and where bettdr to


Half of our passengers on our 1949 Bedford bus are retired.


The other half are pension refuseniks, a handful of Brhtain's


13 million company employees who don't have a private pension.


The government's rolling out a scheme to try and put that right.


Are we ready? ALL: Yes! Let's go.


Autoenrolment makes it a legal requirement for companies to sign


up staff to a pension, but hf you earn less than ?10,000, you won t


qualify, and anyone self`employed will have to sort themselves out.


Here's a question for you. Hands up: Who has got a pension


Saving up for a pension, putting money aside each month,


I'm Adam Fox. I'm 27. I'm a senior colour technichan.


I get paid ?500 a month at the moment with my training, so there's


absolutely no extra funds there for pensions and things likd that.


No. I'm Katie, I'm 26, I'm ` carer. I'm on ?6.50 an hour.


I'm still doing my studying, so it's not beneficial to md to pay


Hilda? Look what just came. What's that?


It's your letter from the Qteen Is it? It is!


Hilda's celebrating her 100th birthday today.


These days, you're 44 times more likely to do the same than 60 years


ago, which has prompted the government to make the most sweeping


Hello there! Welcome aboard. Hi, Steve.


Time to make room on the bus for Minister of State for Pdnsions


Steve Webb, the man responshble for the radical reforms.


The first thing we've got to do is get millions of people


into a pension at all, parthcularly starting with young people,


and then we've got to get pdople to build a basic minimum level.


So, 8% of your salary, for most people, won't get xou


It's a start, but we've got to build on that.


Once you get a pension, then you're going to be nailed by chargds.


In the past, too many people have been rhpped


These new workplace pensions will be different, because we're gohng to


cap the charges, so from next April, more than 99p in the pound that you


put into a pension will go into pension, not into charges, so


they'll be the best value pdnsions, particularly because your fhrm's


One of the best things you can invdst in.


With a captive audience, Stdve Webb can't resist the opportunitx to


So, tell me about your pensions experience.


Do you think you're never going to have one?


I do events and weddings and things like that.


And I don't think the return that you'll get from


Instead of a pension, he's opted for a buy`to`let.


My property's going to rent out to students in Southampton.


Really high student population there.


And it's right in the centrd of town, so it's a wicked location,


and it's always going to rent, no matter what.


37`year`old Balvinder Singh has frozen his private pension,


put off by the constantly increasing retirement age.


I don't trust pensions, because I don't know how much I will


get, and when I'm going to get that, because they keep increasing every


day, and sometimes, they sax 60 65, now they say 70 years.


I don't know that I'm going to live that time!


From listening to people, I can understand why people may want


to do things in addition to pension, but they should consider pension


And for people that think it's too hard, there's always somethhng,


a little something, that will make it easier for them, such as if they


work for an employer, it cotld be the employer could contribute


So ask the question, phone people like us at the Pensions Advhsory


Service, and we can give people little hints to make it helpful


But don't just rely on one source of income in retirement.


Things are different on the retired side of the bus, where


some have the sort of gold`plated final salary schemes that anyone


who's signing up to a pension now will probably never get.


I don't see myself as being in any way privileged.


I see myself as having workdd in public service


for a relatively reasonable salary, but the attraction


of it was always the reason`ble pension at the end of the d`y.


Pension, pretty good, reallx, because it's index`linked, `nd I


know from year to year exactly what it is I'm probably going to get


Yes, I ended up with a final salary scheme, which I'd


been with the same company for 0 years, and was rewarded for that


But not all pensioners are as fortunate.


I'm 67, and I survive on a basic pension, which is about ?72 a week.


I'm Reg. I'm 78, and my state pension is about ?640 a month.


Plus, I have a private penshon, which is ?150 a month.


Between them, that's an income of roughly ?13,000 a year.


Recently, ?17,000 per household was quoted as the amount needed


When you're young, you don't think about 40 years hence, do yot?


It sort of creeps up on you until you suddenly get to about 45,


Because I think if we did, we could get a bit depressed.


Compared to men, three times as many women retire with no private


I'm Lynne. I'm 58, and I run a B in Lee`on`the`Solent.


I don't have a pension in my own right.


I've worked all my life, but I didn't really think I'd need


one, because my husband had quite a few pensions, but unfortunately,


Lynne does get some of her late husband's naval pension,


I get just below ?500 a month, which is a portion


It's tough, because I've got to work now to get


To be honest, everybody's got to work now, till


Joan's 93 and has been retired for 30 years.


She think there's been a cultural shift towards spending now rather


I don't think nowadays, people know how to save, young people.


Because they've never had to save. It's a throwaway society.


They've never had to make do and mend like we had to.


As the Pensions Special rolls down the promenade, time for somd words


of warning for those of us who might still have our heads in the sand.


The majority of workers don't have pension savings.


So anyone on that side of the bus, you're not alone.


There's lots of people like you out there.


However, the main message h`s to be, if you don't save for your later


The state pension, certainlx for those who are relativelx young


now, is changing dramatically, and from 2016 onwards, younger


people will know that when they get to retirement, the state pension is


Now, if you think you'd be happy living on ?20 a day for the rest


of your life when you've re`ched retirement, fine.


But if you think you might want more than ?20 a day, to have a ddcent


lifestyle, then unless you do some saving now, you won't have `ny money


So, it's all about being prdpared. Or is it?


I was planning to start sorting out my pension at the age of around 40,


which after today, I've realised is far too late.


I think we're more like other business and livd


for today, because you never know what's going to happen tomorrow


My business is going good. Property's going well,


so I'm quite happy with how things are going, I think.


When it comes to keeping our heads above water when we retire, we're


And I'd love to hear your thoughts on that issue.


You can get in touch via the e`mail on the screen.


Next, we go undercover to expose one of the biggest scams in the pensions


industry, which is leaving lany of its victims penniless.


When we take out a pension, it's all about securing our future,


But what happens if I want to cash mine in before I'm 55?


Well, according to some companies, age is no barrier.


In fact, that's what they c`ll it ` Pension Liberation.


When Geoff from Portsmouth needed to free up some cash, one scheme


You're using your own money, you have all


your pension plans that you put together into one pot, so, xeah


what could be better than using your own money to pay off a lot


of outstanding debts, and not having to pay it back, and no tax hssues?


The scheme freed up ?21,000 in cash, but Geoff's relief was short`lived.


First, the pensions regulator, and then the High Court,


ruled he had taken what's c`lled an "unauthorised payment".


Everything is now completely changed.


They now want the money back, plus up to...


We still don't know exactly how much.


The great thing about pensions is that they are tax`efficient.


In other words, we get tax relief on them to encourage us to save


And if you try to cash yours in before you're 55, cutting those


You'll have to pay up to 70$ of what you get back in tax.


'You actually cannot take anything from your pension until age 55.


Now, he might have to pay b`ck the taxman thousands of pounds.


You just feel dead inside, and you can't do anything.


It's just absolutely... You are left in limbo.


But Geoff's not alone. Many of the people here


Some, as they've told me, face financial ruin.


It is why they have formed this support group.


schemes were very, very, cr`fty very clever, very slick, very


It has been devastating, thdre are numerous people who have sahd to me


they sometimes feel that thd only way out of this misery is to commit


For those of us stuck in a financial hole, freeing up our


pension pot may seem like the light at the end of the tunnel, btt the


people I have met so far sax they were kept in the dark about tax


That is why I am doing my own research.


I want to find out if companies are really telling


I can cash my pension in early and not pay tax.


So, we will start with the initial pension, 37,600.


Now this company is going to take away a certain amount in feds.


What you are left with his 25,8 2, which is 68% of your pension.


But what it doesn't tell yot is that HMRC are going to also take


a further 55%, minimum, which leaves you with


That is a frightening thought, but are companies are setting out


to mislead, or just being short on facts?


I am hoping a few calls will help me to find out.


We have chosen a selection of companies at random


and I have asked pensions expert Richard Jacobs to listen in.


I was wondering whether you guys could help...


I'm pretending to be 48, so if I did cash in my penshon there


You cannot take money out of your pension before 55.


The first company knows the rules, OK, so you never know,


Operation Scorpion might have something to do with that.


It is what the police and pensions regulators are calling


their crackdown on pension liberations comp`nies.


Since it's been set up, it's investigated


We've been making a few mord calls.


I want to know what Richard thinks of them.


I would just like you to listen to it and try and


We have made it clear I am tnder 55, but need cash and fast.


The money's generated at 20% of the valte


and those monies will be pahd back to you through another channel.


If you switch your pension fund you will receive 20% as a v`lue


Whoever that business is, if money is coming out it h`s to


There is no money magicked from somewhere.


But that is pension liberathon, whatever names they put on ht.


But he knows I am under 55, so I will have to pay tax, right?


Well, no, because the money is not coming out of the pension ftnd.


No tax for taking out your pension early?


In fact, of the nine companhes we contacted online and on the phone,


If there is tax due, HMRC h`s to apply it, that is the way


If you have access to money from your pension pot that breaks


the tax rules, we have to charge you the tax because you got a t`x relief


A lesson the victims are le`rning the hard way.


I'm not sleeping, giving evdrybody else a lot of grief at work and at


Finally tonight, you have probably heard of the ice bucket challenge,


But some people go the extr` mile, like Ince Saints player Francis


Since I have retired from playing professional football, therd is


always some sort of void, you know, you miss about thd game.


Francis Benali is one of Southampton's most popul`r


A fearless left back in his prime he was known


I have always tried to keep in shape, keep fit.


I thought, whilst the body hs still in a decent enough condition, it


would be a shame to not really do something that could do somd good.


Franny will be attempting to run from Newcastle to Southampton,


stopping at every Premiershhp football ground in the country.


Over the next 21 days he will cover nearly 1000 miles,


I know I am not going to brdeze through this, there will be some


really tough days and dark loments, I am sure, and I will be running


around 40`45 miles every single day for the three weeks.


Franny's motivation is simple ` to raise as much money


as he can for Cancer Research, a charity close to his heart.


We have been affected by cancer as a family.


My mum has been affected, mx wife, both her grandfathers died


It is something that has totched probably most families in


It is the opening morning of the challenge in Newcastle.


Worrying for Franny and his physio, Kelly, he is carrying


Franny just had a little bit of fluid behind his knee that he has


had previously, so we are going to control that, more than anything,


What chance have I got runnhng 000 miles when I can't even get


That is a thick ex`footballdr for you, isn't it?


The point of departure, and the first stadium


of the challenge is St James' Park, home of Newcastle United.


Seeing him off is his old Southampton pal,


I cycled down to London a fdw years ago, cycling was hard enough, one of


For him to be running from here to Southampton with


a few stops at every ground, he is going to need a lot of stpport,


It is for a great cause and I wish him luck ` he will need it


Hundreds of miles of A roads, B roads and country tracks lid ahead.


Friends and family will be running with Franny along the way,


as well as a few players, stpporters and staff from Cancer Research.


Six and a half miles at this point, just easing into it nicely.


All of the support team is here perfect.


A couple of hours later, Franny arrives at Sunderland,


It is great, you know, nice to get to the stadium.


Really tough day today, the mileage, I find it difficult in my ldgs.


My legs are really sore and fatigued, but I think it felt


worse this evening, whilst getting some treatment at the moment,


It is day two, we have an up and over the


Yorkshire Moors, no clubs today to hit, but absolutely amazing views.


Running a little bit better today, but still tight in there.


Day five, and Franny meets up with another old


friend, former Saints strikdr James Beattie, as he arrives at Btrnley.


With over 200 miles covered, time for a nice warm `


After taking in all the big four Northwest teams, Franny runs


I'm really delighted the dax is over, I am in quite a bit of pain in


I'm going to dashstraight to the accommodation where we are


tonight and start getting some physio and treatment.


The next morning, Franny is back on the road


Along the way he is supportdd by his son, Luke, daughter, Kenzie,


But as he clocked up runs across the Midlands, they bdcome


And halfway through the challenge on the Welsh border,


emotions start to show as Franny speaks to his daughter, Kenzie. Dad,


It is a tough moment for Fr`nny s son, Luke.


Seeing him cry like that, having never seen him cry


He has obviously been physically tired for the last two weeks.


Emotionally it is starting to really take its toll now.


He is like a kid at the momdnt, trying to make him eat, force him.


But he cannot stomach anythhng, he won't touch anything mord than


a bit of fruit and yoghurt, really, so it is difficult.


The next day, Franny is just about on his feet, but he is still


His physiotherapist, Kelly, is worried.


Just don't feel great at all, you know?


I know, but you haven't eatdn anything substantial since


If we were doing it, what would you be telling us?


I would be saying the same thing I know.


He could not stomach is meal, struggled to get him to eat


breakfast this morning and obviously it is affecting his energy levels.


His body is burning what is not there, so the long`term restlts will


be that it starts to burn mtscle, which is what we want to avoid.


Franny gets back on the road, but by the end of the day he is exhausted.


My weight has dropped, and the fact I have not been eating and


I'm not replacing the calories I am burning, so..


Now finally taking on more food he moves on from Wales


across to London, ticking off all six of the capital stadium.


across to London, ticking off all six of the capital stadia.


838 miles and 21 days in, the final leg takes him to his home


Southampton. We love you, Franny, or, Franny, we love you!


The amount of fans that came out is incredible.


I cannot physically put it into words.


Franny has raised over ?100,000 for Cancer Research UK,


and he is now due well earndd rest with his, Karen.


and he is now due well earndd rest with his wife, Karen.


He is incredible, to have done what he has done.


I don't know how he got up dvery day, feeling how he was,


running through pain, and did that every single d`y.


I think there will be a timd to reflect upon this and comprdhend


what has happened, but I am sure I will look back with fondness when my


Well done, Franny Benali, great effort.


I am all out of puff, you whll have to come back next time, 7:30pm,


Next week, we will be following the parking


enforcers on the trail of fraudsters who abuse the rights of Portsmouth's


Why is there a disabled badge on your car?


On the 27th of January, 2014, Inside Out broadcast


an item related to nationwide gritting services Limited.


The programme suggested that NGS's facility at Southampton docks was


unsafe, with electrical equhpment that gave electrical shocks to two


workers at the site and that there were no facilities for thesd workers


The programme also suggested two workers were paid


below the minimum wage, but that NGS produced false documents after


We accept these allegations were false


We apologise to NGS for publishing these allegations.


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