Rod Liddle and friends, a word in your ear about harassment

There's a difference between flirting over the photocopier and being a groper. So even if you think you're Don Draper, you might be Uncle Monty.

Gentlemen, a word in your ear please. As you all know, some of the chaps have been getting into a bit of bother of late, with all sorts of unfortunate allegations, sordid photos and lurid headlines on the front pages. Well, let me offer a bit of advice.

We all know what the newspapers are like. There we are, doing our jobs, working hard from morning till lunchtime running the country and protecting the mortal souls of the nation, and in they saunter, joking about their column inches and hinting that if we play our cards right, they could give our careers just the boost we need. Don’t fall for it. They’re not really interested in our talent, potential or future career, forgive my frankness but, they’re really just hoping for a chance to screw us. One minute you’ll be at a daily photo-call, cool and professional, the next moment you’ll be getting chased up the stairs by a paparazzo with a fully extended telephoto lens.  If you’re going into politics, it’s a very tough world, and if you want to survive the attentions of the press, you might find you need to toughen up a bit, play the game, if you get my meaning. Relax, try to enjoy it, it happens to everyone.

Steady on, I hear you say, perhaps these chaps have done nothing to invite the hot, heavy breath of a tabloid hack on their necks? What if their behaviour was entirely innocent? Won’t this type of unwelcome and unfair harassment put talented men off the notion of public service, to everyone’s detriment? Maybe advising people to toughen up isn’t quite enough, so let’s consider an alternative approach. 

Take a look at your employment contracts, chaps. You see that passage in the ‘benefits’ section, just between the pension plan and the holiday allowance? The bit saying you are entitled to squeeze every potential opportunity and sexual thrill out of any passing young colleague who takes your fancy? No? Perhaps that might be because it is not bloody there.

It’s all very well for the likes of Rod Liddle to declare breezily that all this is no big deal, that the work place has now become the venue within which we meet our sexual mates, because he sits on a moral high ground to which the rest of us can only aspire. It’s not as if he famously left his wife and two children for a 22-year-old receptionist from work or anything, is it? Is it? Oh.    

Rod Liddle.

Yes, people often form relationships through work, but there’s a big difference between inviting someone out for a meal or succumbing to some mutual flirting across the photocopier, and exploiting your power and position in such a way that the target of your attention feels degraded, intimidated and unsafe. Just for a moment, stop imagining yourself as Don Draper in Mad Men, all suave, sexy allure, wearing your dominant position like an aphrodisiac cologne. 

Chances are you’re not Don Draper, you’re Uncle Monty. Remember that scene in Withnail and I when Paul McGann’s character is being chased around an isolated cottage by a randy old goat, bursting with sweaty, menacing, terrifying lust and refusing to take no for an answer? That is much closer to the reality of sexual harassment for most of those who experience it. Now imagine being told that you might have to expect this to happen any day in the office, throughout your career, and that you should toughen up and get used to it. It is more easily said than done.

Finally chaps, since it is just us here together, one final chat about tactics. You know how we’ve been spinning the line about how men can’t help ourselves? That when the blood rushes to our loins it drains from our brains, rendering us incapable of behaving in a vaguely grown-up way? I know, I know, it is hilarious that we managed to pull that one off for so many centuries, but the bad news is I think they’re on to us. Seems women have noticed that there are lots of men, indeed a large majority, who are quite capable of going through life without sexually assaulting and sexually harassing their colleagues, who can treat women generally as equal human beings, which has rather blown the lid on the racket for the rest of us.

So, chaps, if we can’t just toughen up and ignore this, if we can’t dismiss it as trivial or excuse it as inevitable, what is there left to do? Perhaps there is only one way to stop such unpleasant media attention in the future. Those few of us who behave like the feral tom cats who got at the Viagra might just have to start acting like decent, self-aware human beings instead. The rest of us could stop excusing them, indulging them and covering for them. In one sense, those who say sexual harassment is no big deal have a point. It is not necessary, it is not inevitable, it is not the glue which holds the universe together, we could stop it in a second if we decided, collectively, to do so. Perhaps that time has finally come. 

Not Rod Liddle.
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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: products-and-investments/ pensions/pensions2015/