300 episodes

The latest news from the world of personal finance plus advice for those trying to make the most of their money.

Money Box BBC Radio 4

    • Business
    • 4.2 • 769 Ratings

The latest news from the world of personal finance plus advice for those trying to make the most of their money.

    Probate Delays and Pension Charges

    Probate Delays and Pension Charges

    When someone dies and leaves a property in their own name, or has significant savings or investments, the executors must apply for probate - a legal document which gives them the right to deal with the dead person's estate and distribute their assets. The Ministry of Justice says probate should be granted within 16 weeks, but some bereaved families have been facing delays of nearly a year. Why is that?
    A new report shared exclusively with Money Box suggests many of us know very little about the charges being taken out of our pensions. People's Partnership carried out a survey which found that out of a thousand people who'd transferred their pension in the past two years without getting advice beforehand - 72% didn’t know exactly what the fees for their old pensions were, or what they were being charged for their new one. What should you look out for?
    And for the first time the percentage people in England who're married or in a civil partnership has fallen below 50 percent. If you live with someone and share your money - what do you need to know?
    Presenter: Paul Lewis
    Reporters: Dan Whitworth and Jo Krasner
    Researcher: Sandra Hardial
    Editor: Jess Quayle
    (First broadcast 12pm Saturday 17th February 2024)

    • 24 min
    Money Box Live: When Can You Retire?

    Money Box Live: When Can You Retire?

    When do you think you'll be able to retire?
    Perhaps you can't wait to pick up your last pay check or maybe you love your job so much you want to work for the rest of your life.
    For those who do hope to retire, the latest research suggests we'll all need an an extra £8,000 a year for a so-called moderate retirement according to the Pensions and Lifetime Savings Association.
    Meanwhile, the International Longevity Centre reckons we'll need to raise the state pension age to 71 by 2050.
    On this Money Box Live we're getting to the bottom of how realistic that is and what it all means.
    We'll hear from someone working well into their 70s as well as a super saver hoping to retire in her 40s!
    Felicity Hannah is joined by Helen Morrisey, Head of Retirement at financial services company Hargreaves Lansdown and Dr Emily Andrews, Deputy Director for Work at the Centre for Ageing Better charity to answer your questions and comments.
    Presenter: Felicity Hannah
    Reporter: Eimear Devlin
    Producer: Sarah Rogers
    Editor: Jess Quayle
    (This episode was first broadcast at 3pm on Radio 4 on the 14th of February 2023).

    • 28 min
    Citizens Advice Closure and Investment Platforms

    Citizens Advice Closure and Investment Platforms

    Dozens of Citizens Advice centres are at risk of closing because local councils which support them are running out of money. That warning came this week by the senior Labour MP Clive Betts in an exclusive interview with Money Box. He is also the Chair of Parliament's select committee on Levelling Up, Housing and Communities. Dan Whitworth visits one of those citizens advice services at risk in Mansfield. The government says up to £64 billion has been made available to local authorities in England, an increase of 7.5% on the previous year which will allow local authorities to support communities and reform services to help them prepare for the future.
    The cost of a comfortable retirement in Britain has jumped by nearly £6,000 to just over £43,000 a year for a single person and £59,000 for a couple. Every year the Pensions and Lifetime Savings Association publishes figures worked out by Loughborough University for the amount of money you'd need to afford certain lifestyles in retirement. How is it calculated and how can you prepare for your retirement?
    And, investment platforms and providers of personal pensions, have just a few weeks left to make sure the way they treat customers' cash balances fits in with new rules called their Consumer Duty. In December the Financial Conduct Authority wrote to 42 firms after concerns that some of them were keeping some or all of the interest they earn on customers’ cash balances. And with rates of 4% or more that's meant big returns. If you invest, what might that mean for you?
    Presenter: Paul Lewis
    Reporters: Dan Whitworth and Sandra Hardial
    Researcher: Jo Krasner
    Editor: Jess Quayle
    (First broadcast 12pm Saturday 10th February 2024)

    • 25 min
    Money Box Live: Are Savers Getting a Good Deal?

    Money Box Live: Are Savers Getting a Good Deal?

    Are savers getting a good return on their cash?
    Although times are tight, we are actually saving slightly more according to the Bank of England. In December, we collectively saved £6bn.
    But, more than a trillion pounds is sitting in accounts earning around 2% interest - even though the base rate is still at 5.25% - according to analysis by Lightyear of the Bank of England's data.
    And £250bn is in accounts that are paying no interest at all.
    So are banks doing enough? UK finance which speaks on their behalf, says many of its members have been contacting their customers to let them know about different savings accounts that are available.
    As always we've got the experts to answer your savings questions - including where to start as well as some of the many emails you've sent us about when and how to pay tax on your money.
    Joining Felicity Hannah is Anna Bowes founder of savingschampion.co.uk, banking analyst Frances Coppola and Chris Gray, independent financial advisor with Forester Boyd Wealth management.
    (This episode was first broadcast on Wednesday the 7th of February 2024).

    • 28 min
    Bereavement Support Deadline and Warm Home Discount

    Bereavement Support Deadline and Warm Home Discount

    Around twelve thousand unmarried parents with dependent children whose partner has died have just a few days to claim their share of an estimated £175 million in bereavement benefits. The figures came from Freedom of Information Requests to the Department for Work and Pensions. People must claim that money before Thursday 8th February. If you think you, or someone you know, may be eligible check by searching for "bereavement support payment" on the gov.uk website.
    New figures show £253 billion is sitting in bank accounts which pay no interest at all. Should banks be telling us to move it?
    The government is sending out the final cost of living payment for low income households this month. It's £299 straight into bank accounts. We've got all the details.

    And some people who got £150 off their electricity bill last year are discovering they are not entitled this year, because their home isn't hard enough to heat. We'll discuss changes to the Warm Home Discount Scheme.
    Presenter: Paul Lewis
    Reporters: Dan Whitworth, Tamzin Kraftman, Eimear Devlin
    Researchers: Sandra Hardial and Jo Krasner
    Editor: Jess Quayle
    (First broadcast 12pm Saturday 3rd February 2024)

    • 25 min
    Money Box Live: How to Start a Business

    Money Box Live: How to Start a Business

    Are you thinking of turning your 'side hustle' into a full time job?
    Perhaps you want to take the plunge but don't know your sole trader from your limited company.
    This Money Box Live is a toolkit for anyone planning to start a new business - or those who've started one but might need a helping hand.
    And we have Dragons' Den star Deborah Meaden on the show to talk about what makes a good idea, the positives of running your own business as well as the pitfalls to look out for.
    Following the pandemic there was a huge drop in the number of self-employed people but last year more than 100,000 people decided to go it alone and work for themselves compare to the year before - and it's the over 50's taking the lead according to the freelancer organisation IPSE.
    It's also deadline day to fill out your self assessment tax return - so we'll be answering all your tax questions too.
    Felicity Hannah is joined by Vicks Rodwell from the Association of Independent Professionals and the Self-Employed and Richard Jones from the Institute of Chartered Accountants in England and Wales.
    Presenter: Felicity Hannah
    Producer: Sarah Rogers
    Editor: Jess Quayle
    (First broadcast 3pm Wednesday January 31st 2024)

    • 28 min

Customer Reviews

4.2 out of 5
769 Ratings

769 Ratings

buffy flow and spike ,

Really informative podcast everytime

Insurance hikes- thanks for focusing on car insurance. Painful increases are being matched by house and contents insurance. Our renewal quotes recently received are between 45% - 61% increased!!!! Can you explore this too?

Thank you

Leo Curran

elz_dad ,

Out of date by the time the podcast appears

I used to listen to this every week. But the podcast feed now only has episodes a month after broadcast - you have to use BBC Sounds to get them on the day. I can’t be bothered switching apps for different podcasts so I only hear Money Box now if I happen to have radio4 on at the right time.

lovealways# ,

Food banks energy crisis

Listening to this podcast made me so sad
How is it ossicle that we have gotten into such stress point ? Does pointing the finger of blame really help right now?
What are the creative options open to us?
Well we can crate model similar to fostering of children and get those who are earning beyond a set point to foster family so they can pay food bills or energy bills
We can create community food cebteres like we did on old days and ensure everyone gets one warm food dish
We can have food pick hubs at GP practices
Or use gyms to create healthy eating and have some gym time so they can do mind body soul work
We can create the model that happens in Sikh culture we’re people are given food each day so there is no food poverty
Simply look to the compassion models from other cultures to see what you can achieve
Compassion focused care is needed
I have had enough of government they have failed as are local authorities release monies from failed systems and focus on ring fencing it and giving it to families in energy and food poverty
That just some thoughts

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