E46: How to bounce back from redundancy with Jimmy McLoughlin OBE, Eleanor Mills and Emma Ferenc-Bachelor
The Pension Confident PodcastShow Notes
Where do you see yourself in five years? In a rapidly changing world of work, that's becoming harder to answer. The World Economic Forum predicts that by 2030, nearly 92 million jobs will disappear. The upside? 170 million new jobs will emerge. With UK businesses feeling the squeeze, more workers will be forced to reconsider their career in the coming years. The combination of higher secondary Class 1 National Insurance contributions, increased National Minimum Wage, and the new Employment Rights Act is leading experts to forecast a rise in redundancies. Join our host, Philippa Lamb, and our expert panel as they discuss the how to bounce back from redundancy: Former Downing Street Adviser and Chief Podcaster at Jimmy's Jobs of the Future, Jimmy McLoughlin OBE; Former Editorial Director of The Sunday Times and Founder of Noon, Eleanor Mills; and Training and Culture Manager at PensionBee; Emma Ferenc-Bachelor.
Episode breakdown 02:12 How it feels being made redundant 05:46 The triple whammy hitting employers 08:20 Where new jobs will come from 10:59 Reskilling in midlife 13:20 How to sell a squiggly career 15:22 Your redundancy rights 17:25 Cutting spending and saving tips 19:06 Everyday networking 21:19 Reframing the shame around redundancy
Further reading and listening To learn more about switching careers and employment rights, check out these articles and podcasts from PensionBee: Episode transcript (Blog) E25: How to earn more money (Podcast) E24: How to start a business (Podcast) Creating a portfolio income in your retirement years (Blog) What is a workplace pension? (Pensions Explained) 5 tips for starting a new job (Blog) 8 easy steps to build an effective budget (Blog)
Other useful resources Careers information, advice and guidance (National Careers Service) Distance learning courses (The Open University) Find your new career tool (PensionBee) Rebrand Yourself Course (Noon) Redundancy Support for Over 50s (Centre for Ageing Better)
Catch up on the latest news, read our transcripts or watch on YouTube: The Pension Confident Podcast The Pension Confident Podcast on YouTube
Follow PensionBee (@PensionBee) on TikTok, YouTube, Instagram, LinkedIn, Facebook, X and Threads. Follow Jimmy McLoughlin OBE (@jimmym) on TikTok, YouTube, Instagram, LinkedIn, X and Threads. Follow Noon (@uponnoon) on TikTok, YouTube, Instagram, LinkedIn, Facebook and X.
Enjoying the podcast? Tell us what you think below and give us a review or rating. As always we'd love to hear your suggestions and feedback. Send us an email: [email protected].
More from The Pension Confident Podcast
In this bonus episode, we hear from PensionBee customer Jonathan as he shares his pension story. From the trusty spreadsheet he started with his wife 24 years ago, to now being on track to be mortgage-free in two years - before they hit age 50. We unpack Jonathan's financial journey with pensions expert Dan Stean from PensionBee, covering: what overpaying a mortgage means and why you should check for Early Repayment Charges (ERCs) first; how to weigh mortgage overpayments against pension contributions and how calculators can help; and why planning your finances together as a couple can help, married or not.
If you had some spare cash each month, where would you spend it? Overpaying your mortgage or giving your pension savings a boost? Join our host, Philippa Lamb, and Maike Currie, VP Personal Finance at PensionBee, as they discuss the benefits and considerations of making extra payments on your mortgage vs. topping up your pension pot.
Do you know what your money is invested in? And do you feel confident you're making the right choices? Some of us are investing in the 'default' plan, whether that's through a Stocks and Shares ISA or a workplace pension. Others are dabbling in crypto or gold. And many of us aren't even investing at all, preferring the safety of keeping cash tucked away in a savings account. Join our host, Philippa Lamb, and our expert panel as they discuss investing fundamentals: Content Creator 'That Money Guy', Gabriel Nussbaum; Founder and CEO of rainchq, Davinia Tomlinson; and Senior Investment Content Manager at PensionBee, Matt Batsman.
In this bonus episode, we hear from PensionBee customer Joumana as she shares her pension story. From moving to the UK from Lebanon 13 years ago with no idea a personal pension was even an option, to buying back missing National Insurance years and picking an investment plan that matches her appetite for risk as a freelancer. We unpack Joumana's pension journey with pensions expert Dani Skerrett from PensionBee, covering: why the self-employed pension gap exists, and how flexible contributions can help; how to check and fill gaps in your National Insurance record; how your pension is protected by the FSCS; and the Retirement Living Standards, and what they mean for your own retirement goal.
With the kids back at school, is now the time to start saving or investing for their future? Join our host, Philippa Lamb, and Maike Currie, VP Personal Finance at PensionBee, as they break down the key differences between a Junior ISA and a Junior SIPP, how each is taxed, and which one might be right for your family.