Tom McPhail is a pensions industry expert. Former Head of Policy at Hargreaves Lansdown he now works for finance consultancy firm the lang cat. 🤝 Improve your finances with our adviser service - book free consultation: https://makingmoney.email/financial-advisors-video 🎉Sponsors Vanta - Get secure and compliant with $1k off: https://vanta.com/makingmoney. Manual - Get help with your hair loss with 55% off using the code ‘MM55’: https://makingmoney.email/ukb43j ✉️ Newsletter If you want a summary from this episode in an easy format, please subscribe to our newsletter: https://makingmoney.email/S4E1 Disclaimer: This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life. Chapters: 00:00-00:38 - Intro 00:38-07:23 - Who is affected by the pensions crisis? 07:23-10:05 - The impact of an ageing population 10:05-12:37 - Owning a home vs renting 12:37-14:07 - The gender pensions gap 14:07-17:59 - Pensions and the self-employed 17:59-18:41 - Manual ad 18:41-22:30 - Is the state pension a ponzi scheme? 22:30-26:54 - Bill Ackman’s solution to the pensions crisis 26:54-31:38 - Psychological nudges 31:38-40:54 - Death by default (funds) 40:54-41:45 - Vanta ad 42:45-45:59 - Why don’t we teach this in school? 45:59- 50:56 - How pensions could fuel growth 50:56-55:52 - Why Canada and Australia do better with pensions 55:52-01:01:52 - What you should do about your pension today 01:01:52-01:05:58 - Why is he called the pensions monkey? 01:05:58-01:07:52 - Want me to come to your workplace?