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Edwina Currie live webchat 23 July, 7pm

(88 Posts)
GeraldineGransnet (GNHQ) Tue 09-Jul-13 18:08:05

Retirement should be a time for enjoying friends, family and hobbies, old and new.  But a bit of planning can help you make the most of it, so worries about money don’t get in the way and you can focus on having fun.

So what things should you consider before retirement? Have you thought about downsizing? What are the benefits? What about continuing to work part-time? What aspects of your future should you discuss with? your family?

We're delighted to welcome Edwina Currie for a live webchat on retirement planning. A writer, broadcaster and ex-minister for public health and women's health issues under Margaret Thatcher, Edwina, 66, today works part-time as a writer and broadcaster and has published 11 books.  She is also a member of the McCarthy & Stone Greater Life Advisory Board which challenges attitudes to ageing.

In 2011, she downsized and returned to her roots in Derbyshire, close to the area she represented as an MP. Edwina and her husband John have a combined family of four sons, two daughters, nine grandchildren and two great-grandsons. 

Join us on 23rd July at 7pm when Edwina will be answering your questions on planning for retirement.

This webchat is sponsored by McCarthy and Stone Money.

EdwinaCurrie Tue 23-Jul-13 19:32:45

Galen

What do you think of the PIP replacement for DLA/AA

We are paying out £200 bn pa for benefits, and this is simply unsustainable. Especially as the number of pensioners is growing, and will continue to grow.
And for people of working age, it just doesn't make sense to pay so much that it is a rational decision not to work, to stay at home. Rational, please note.
On top of that, many people with disabilities can work, and are far less likely to be depressed and stuck if they can get out and have a job they enjoy. (Actually I think we are all like that).
Everyone gets angry if they think the system is being exploited, and there is no perfect way of assessing disability and inability to work. The more rigorous and regular assessments have meant that far fewer claims are being made. You may draw your own conclusions from that...

coffeefortwo Tue 23-Jul-13 19:31:40

Hello Edwina. What made you want to become the face of McCarthy and Stone?

feminista Tue 23-Jul-13 19:28:47

What would you say is your most redeeming feature and made you a success? And what do you think holds woman back in the work place?

EdwinaCurrie Tue 23-Jul-13 19:27:40

pamelamoss

I read above that you have moved back to your roots. But has this entailed moving closer to your adult children? This is the conundrum for us. Not only whather we should leave an area where we have friends and places that we know but also which of our two children we should move closer to if we do. What is your experience?

This is an important discussion everyone should have - it helps to discuss with the family too.
If you stay in an area with mostly friends your own age, you'll end up going to a lot of funerals. If you move nearer the kids, they could move on.. so you see, the real discussion is, How do we plan for the future? McC & Stone did some research and found that most people don't have these discussions till something dreadful has happened. Moving at a time of crisis isn't the best way to do it.
Me, I dragged hubby up to Derbyshire where my elder daughter and granddaughter live, and it's been wonderful. He grew up in the Wirral and has rediscovered old friends still living in the area. Younger daughter's in London, easy to get to.

Galen Tue 23-Jul-13 19:25:36

What do you think of the PIP replacement for DLA/AA

EdwinaCurrie Tue 23-Jul-13 19:21:42

golfpro

What are your views on the royal family? personally I'm feeling it a bit celebritising if that's a word...

The Royals have always been celebs. Look at The White Queen, and that's 600 years ago.. I think we are very lucky in HM, she's a great character, the finest public servant we have. And the general delight at the birth of the new Prince suggests most people are pleased the monachy will continue. The alternative - an elected President - seems to have thrown up some rum characters in other parts of the world..

EdwinaCurrie Tue 23-Jul-13 19:19:31

banburynan

I just saw your photo on facebook and have to say I love your jacket!!!!!

One of the things (actually the thing) I find hardest about getting older is the attitude of other peopl. They see gray hair and automatically seem to dismiss me as an old dear. I am the same age as you and still think of myself as 40 something most of the time. Have you encountered prejudice such as this and what are your suggestions. 66 is hardly old!!!!

PS is this why you have decided not to go gray yourself?

You are so right. It's OK to be a bloke and grey-haired (John Humphrys) but woe betide a woman on TV who's grey - Prof Mary Beard, for example, or even Germaine Greer. Twitter gets so insulting. So for the moment I prefer not to be grey, but like the Queen, the day will come...!

golfpro Tue 23-Jul-13 19:18:09

What are your views on the royal family? personally I'm feeling it a bit celebritising if that's a word...

EdwinaCurrie Tue 23-Jul-13 19:17:05

louella

What are you like as a grandmother?

You'd have to ask the grandkids...! between us, my husband and I have 6 children (youngest 35, oldest 52 - his) and 9 grandchildren and 2 gt grandchildren with a third on the way. For "mine", that is, my 7 year old granddaughter who lives nearby, I'm strict but fun, take her to the theatre etc. You will see us both on TV soon in a new prog, Big Star's Little Star. She is cute.. don't all grandparents think so?

Sunhat Tue 23-Jul-13 19:16:36

Michael Gove? Interesting. As the wife of a recently retired secondary school teacher, more or less everything I hear about him is negative - what do you admire?

EdwinaCurrie Tue 23-Jul-13 19:14:17

Sunhat

Just thought of another question. Edwina, how do you think the current government compares to the days of Thatcher?

Well, its' a coalition whereas the formidable Mrs T had a whacking great majority, so she could do what she liked - at least, till she started getting things badly wrong, as with the poll tax. We prefer more emollient, more PC leaders these days. But the Coalition to be fair has achieved a lot in difficult times. I admire Michael Gove (Education) and Theresa May (Home Office). Wish the Treasury was a bit tougher, to be honest: the deficit at £110 billions pa is still eye-watering.

EdwinaCurrie Tue 23-Jul-13 19:10:18

janette

Dear Edwina

What is your view on universal benefits?

Thank you

Janette

Cheap to administer and get to everybody. That’s why both winter heating allowances and free bus passes I have argued should continue – cos often, those who need them won’t apply (like pension credits). And once you start means testing, it costs a fortune to administer, all of which comes from the public purse.
As for "wealthy pensioners shouldn'g get..." arguments, remember they pay income tax on their pensions, like any other well off person.

EdwinaCurrie Tue 23-Jul-13 19:08:31

Sunhat

To be fair, wasn't Edwina ultimately right about the eggs?

Thanks, see the detailed comment on eggs I've just posted.

EdwinaCurrie Tue 23-Jul-13 19:07:58

tabletop

It's all very well saying focus on the fun and don't worry about money but that might be fine for someone who has had a successful career in the public eye but for those of us who haven't worrying about money has taken away some of the fun before we even thought about retirement. What about us?

I'm a member of our local WI and I'd guess most of the (older than me) members don't have much money. But they can teach me a thing or two about living life to the full.

EdwinaCurrie Tue 23-Jul-13 19:06:48

granoffour

when do you think people should start planning for retirement? I read something the other day about a 30 year old needing to be saving 864 pounds a month in order to have anything like a decent pension. though maybe their idea of decent and ours would differ I don't know.

As soon as possible, but most people don't. There's one suggestion that a person should save the equivalent of half their age from their salary annually into a pension fund - so a 30 year old should be saving 15% a year. But at 30, that seems like a lot. I started my own pension fund when I was 45 and have saved most of my book money into it. It still won't make me a wealthy pensioner. So, the sooner the better.

EdwinaCurrie Tue 23-Jul-13 19:04:08

Tegan

I'd like to know what the pension payout is for a former cabinet minister, and don't they have a sort of golden handshake as well? But I could be wrong.

I wasn’t a Cabinet Minister: Mrs T didn’t have any other women MPs in her Cabinet (that’s another story..). And she didn’t believe in paying Minister well, or heft redundancy payments either – enough for a facelift, as preparation for my new life beyond Westminster, and that’s not something I would do again.. My parliamentary and ministerial pension, after tax, is £660 pm.

EdwinaCurrie Tue 23-Jul-13 19:03:21

EdwinaCurrie

LyndaW

Edwina, do you actually live in a McCarthy and Stone house?

testing

No, I don't - none here in Derbyshire!

EdwinaCurrie Tue 23-Jul-13 19:02:35

Sunhat

To be fair, wasn't Edwina ultimately right about the eggs?

During 1988 we became aware of serious food poisoning being traced to undercooked or raw eggs – a new bug mutation. Putting people in hospital in droves, on kidney machines, and lethal for some. About 500 new cases every week by autumn 1988 (over 30,000 in a year), and some 60 + deaths that year. These days, there’d be one hell of a row, with the product pulled from the shelves by retailers, producers told to clean up, victims properly looked after. But then, the Agriculture Ministry were claiming there was no problem, and I as Public Health Ministry knew there was. So eventually I told you all, on TV news. I didn’t say, Don’t eat eggs; they were safe if properly cooked (eg in cakes). But not soft-boiled, or uncooked (eg ice cream).

Years later the UK egg producers made amends; they invested millions in clean vaccinated stock and check everything. Lion stamp means they’re OK (and no, they don’t pay me to say that).

Scream

Hi Edwina. What do you think about universal benefits - do you think they should be scrapped?

Scream

Hi Edwina. What do you think about universal benefits - do you think they should be scrapped?

Scream

Hi Edwina. What do you think about universal benefits - do you think they should be scrapped?

EdwinaCurrie Tue 23-Jul-13 18:59:50

No, I don't. I live in Derbyshire, the High Peak, none round here. Wish there were !

CariGransnet (GNHQ) Tue 23-Jul-13 18:58:01

Welcome to Edwina who is now with us and ready to answer your questions. Handing over to her right now...

Sunhat Tue 23-Jul-13 18:41:09

To be fair, wasn't Edwina ultimately right about the eggs?

EdwinaCurrie Tue 23-Jul-13 18:40:51

LyndaW

Edwina, do you actually live in a McCarthy and Stone house?

testing

Tegan Tue 23-Jul-13 16:39:55

I'd like to know what the pension payout is for a former cabinet minister, and don't they have a sort of golden handshake as well? But I could be wrong.

tabletop Tue 23-Jul-13 16:34:48

It's all very well saying focus on the fun and don't worry about money but that might be fine for someone who has had a successful career in the public eye but for those of us who haven't worrying about money has taken away some of the fun before we even thought about retirement. What about us?

granoffour Tue 23-Jul-13 16:21:53

when do you think people should start planning for retirement? I read something the other day about a 30 year old needing to be saving 864 pounds a month in order to have anything like a decent pension. though maybe their idea of decent and ours would differ I don't know.