Will Self: the first step in dealing with your speeding problem is agreeing that you have one

It may surprise regular readers of this column, who have read me over the years animadverting on the follies of all aspects of the vehicular, to learn that I am a chronic speedhead

At the speed awareness course run by AA DriveTech somewhere in the arse-end of the Angel, I run into Stephen Bayley, the design guru. Bayley is the author of (among many other works) Sex, Drink and Fast Cars, a copy of which he rather opportunistically has in the Gladstone bag he’s lugging along at the end of his cream-linen clad arm. A quick exchange establishes that he, like me, was nabbed by the speed cameras on Tower Bridge doing 27 miles per hour. Our admission calls forth from our fellow course participants, who are sitting on plastic stacking chairs waiting to undergo the “registration process”, that they – old, young, black, white, brown, male, female, gay and straight – are all guilty of exactly the same offence.

It’s a very modern moment, this: an application of technology to the turbid urban mill race has resulted in the diversion into this quiet, carpet-tiled pool of an odd group of fish, united only by this fact – that on such and such a date, we were all travelling at the same velocity in the same place. And yet . . . and yet, the recognition of this piffling common characteristic is sufficient, or so I like to think, to unite us as a group. As Gary (not his real name) from DriveTech checks our IDs and fingers our details into his handheld device, our solidarity grows; we swell into this new identity, until – seated in trios at melamine-topped desks, confronting our instructor – we have become the “Tower Bridge 22”, a fearless gang of desperados whose only wish was that the drawbridges had actually been raised as we speeded towards them, so that our cars would have been launched howling into inner space!

Our instructor, Peter (not his real name, either – indeed, I don’t believe he has one), sets out a few house rules, including the need for us to maintain confidentiality. So I suppose I shouldn’t be writing about this course, let alone telling you that Stephen was there. Still, I like to tempt fate: I’m the Edward Snowden of the TB22, fearlessly exposing DriveTech’s sinister secrets, and when the City of London police come knocking, I’ll go on the run, holing up at South Mimms services until I’m offered asylum . . . by Burger King.

Up until now, I’ve been struggling to fit in with the rest of the TB22. I want to be a good group member. Besides, unlike Stephen – who vigorously contends that he never speeds and that the 20-miles-per-hour limit, as well as being inadequately advertised on the approach to the bridge, is imposed on baseless grounds cooked up by English Heritage regarding its not-so-superstructure – I know I need help. It may surprise regular readers of this column, who have read me over the years animadverting on the follies of all aspects of the vehicular, to learn that I am a chronic speedhead. True, I don’t own a car any more but put my hands on the hireling wheel – as they were on the night of the 17th inst – and my foot slams straight to the floor. So . . . I am reaching out – while Stephen tenses up.

Over the next three hours, with only a 15-minute break for coffee, Peter leads us through the dos and do-nots of velocity. The course is a mixture of the informational (basically, a refresher on the Highway Code) and the emotional: lots of statistics about fatalities and how an extra ten miles an hour will turn you into the Angel of Death, slaughtering all suburban firstborn. I am, as I say, willing to be healed and so I participate enthusiastically. So does Stephen. Unfortunately, we take part perhaps a little too enthusiastically: I’m not sure Peter gets that many attendees who wish to discuss in detail the traffic management theories of Hans Monderman, or the impacts of high- and low-frequency vibrations on bascule bridges, let alone the neoliberal underpinning to his argument that the government needs us to be able to drive so that we can join in that collective desideratum, “growth”.

By the end of the course, when we’re using our hand-held devices to “vote” not only on multiple-choice questions but also on how we feel Peter has done, I’m feeling considerable solidarity with my fellow speeders. But then, as we are encouraged to put what we’ve learned to the test by answering questions in response to Peter’s laser pointer hovering over an image of the approaches to the dreaded bridge, it becomes painfully clear that I am a man alone. It is Stephen who personifies the group’s Geist, for almost every member of the TB22 is still carping bitterly about how they were nicked at all. Loonies.

A vandalised Gatso speed camera. Photo: Getty Images.

Will Self is an author and journalist. His books include Umbrella, Shark, The Book of Dave and The Butt. He writes the Madness of Crowds and Real Meals columns for the New Statesman.

This article first appeared in the 09 September 2013 issue of the New Statesman, Britain alone

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Stability is essential to solve the pension problem

The new chancellor must ensure we have a period of stability for pension policymaking in order for everyone to acclimatise to a new era of personal responsibility in retirement, says 

There was a time when retirement seemed to take care of itself. It was normal to work, retire and then receive the state pension plus a company final salary pension, often a fairly generous figure, which also paid out to a spouse or partner on death.

That normality simply doesn’t exist for most people in 2016. There is much less certainty on what retirement looks like. The genesis of these experiences also starts much earlier. As final salary schemes fall out of favour, the UK is reaching a tipping point where savings in ‘defined contribution’ pension schemes become the most prevalent form of traditional retirement saving.

Saving for a ‘pension’ can mean a multitude of different things and the way your savings are organised can make a big difference to whether or not you are able to do what you planned in your later life – and also how your money is treated once you die.

George Osborne established a place for himself in the canon of personal savings policy through the introduction of ‘freedom and choice’ in pensions in 2015. This changed the rules dramatically, and gave pension income a level of public interest it had never seen before. Effectively the policymakers changed the rules, left the ring and took the ropes with them as we entered a new era of personal responsibility in retirement.

But what difference has that made? Have people changed their plans as a result, and what does 'normal' for retirement income look like now?

Old Mutual Wealth has just released. with YouGov, its third detailed survey of how people in the UK are planning their income needs in retirement. What is becoming clear is that 'normal' looks nothing like it did before. People have adjusted and are operating according to a new normal.

In the new normal, people are reliant on multiple sources of income in retirement, including actively using their home, as more people anticipate downsizing to provide some income. 24 per cent of future retirees have said they would consider releasing value from their home in one way or another.

In the new normal, working beyond your state pension age is no longer seen as drudgery. With increasing longevity, the appeal of keeping busy with work has grown. Almost one-third of future retirees are expecting work to provide some of their income in retirement, with just under half suggesting one of the reasons for doing so would be to maintain social interaction.

The new normal means less binary decision-making. Each choice an individual makes along the way becomes critical, and the answers themselves are less obvious. How do you best invest your savings? Where is the best place for a rainy day fund? How do you want to take income in the future and what happens to your assets when you die?

 An abundance of choices to provide answers to the above questions is good, but too much choice can paralyse decision-making. The new normal requires a plan earlier in life.

All the while, policymakers have continued to give people plenty of things to think about. In the past 12 months alone, the previous chancellor deliberated over whether – and how – to cut pension tax relief for higher earners. The ‘pensions-ISA’ system was mooted as the culmination of a project to hand savers complete control over their retirement savings, while also providing a welcome boost to Treasury coffers in the short term.

During her time as pensions minister, Baroness Altmann voiced her support for the current system of taxing pension income, rather than contributions, indicating a split between the DWP and HM Treasury on the matter. Baroness Altmann’s replacement at the DWP is Richard Harrington. It remains to be seen how much influence he will have and on what side of the camp he sits regarding taxing pensions.

Meanwhile, Philip Hammond has entered the Treasury while our new Prime Minister calls for greater unity. Following a tumultuous time for pensions, a change in tone towards greater unity and cross-department collaboration would be very welcome.

In order for everyone to acclimatise properly to the new normal, the new chancellor should commit to a return to a longer-term, strategic approach to pensions policymaking, enabling all parties, from regulators and providers to customers, to make decisions with confidence that the landscape will not continue to shift as fundamentally as it has in recent times.

Steven Levin is CEO of investment platforms at Old Mutual Wealth.

To view all of Old Mutual Wealth’s retirement reports, visit: www.oldmutualwealth.co.uk/ products-and-investments/ pensions/pensions2015/