 | BBC Radio 4's Money Box Saturday, 10 July 2010 at 1204 BST on Radio 4 and Online |
The Government's made a major announcement that could affect the pensions paid to millions of people. It wants private sector pensions to be linked to the Consumer Prices Index measure of inflation instead of using the Retail Prices Index. This would bring the calculation into line with the way the annual increase in public sector pensions are to be calculated, announced in the Emergency Budget. Under the plans announced earlier this week, millions of people in certain occuptional schemes are likely to see lower increases to their pensions in retirement. Pensions Minister Steve Webb and Nigel Peaple from the National Association of Pension Funds explain the changes and their implications. Related information:
Continuous payments cause problems Most of us are used to using direct debits and standing orders but a third way of making regular payments for things like insurance and subscriptions is causing concern for some Money Box listeners. A Continuous Payment Authority works like a direct debit but it can't be stopped by your bank - only the organisation receiving the payments can cancel it. Getting them to do it is not always easy, as Bob Howard's been finding out. Bob speaks to two unhappy listeners and some industry experts. Related information:
Metro Bank - a sneak preview The first UK High Street bank to launch for more than 150 years opens its doors to business and retail customers at the end of this month. Metro Bank branches will open seven days a week and promise "unparalleled service and convenience". Paul Lewis got an exclusive look at the Holborn branch and spoke to Metro Bank Chairman, Anthony Thompson. David Black from independent financial research company Defaqto gives us his thoughts on the development. Related information:
Bad news for Bradford and Bingley shareholders An independent valuer has said that former shareholders of troubled Bradford and Bingley - now of course part of the Santander banking group - should not get any compensation. It's a blow to its 935,000 small private shareholders, who've argued that B&B shares, which traded at just 20p shortly before nationalisation, should be valued at almost three times that figure. But the independent valuer Peter Clokey has recommended that the Treasury offer no compensation. He told the programme why he'd come to the conclusion. Related information:
BBC Radio 4's Money Box is broadcast on Saturday at 1204 BST and repeated on Sunday at 2102 BST.
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