Discover this podcast and so much more

Podcasts are free to enjoy without a subscription. We also offer ebooks, audiobooks, and so much more for just $11.99/month.

Why is the state pension so complicated?

Why is the state pension so complicated?

FromMoney Box


Why is the state pension so complicated?

FromMoney Box

ratings:
Length:
37 minutes
Released:
Apr 10, 2021
Format:
Podcast episode

Description

More than 200 pensioners responded to a request to tell us how much their state pension was. They were nearly all different amounts. Next week the basic pension is rising to £137.60 a week and the new state pension paid to younger pensioners to £179.60. But those are amounts that hardly anyone actually gets. So why are pensions - the old and the new - so complicated?

Who better to answer that than two former pensions ministers. Sir Steve Webb had that job throughout the years of the coalition government and Baroness Ros Altmann for just over a year under David Cameron.

Pockit is not a bank. But it does offer what it calls a current account. In fact that is a pre-paid card which customers load money onto and then can spend it almost as if it was a bank account. But some users have told Moneybox that their accounts have been locked and they they have struggled to get through to Pockit to find out what's going on. Paul talks to Martyn James, consumer rights expert at Resolver.

It is now more than 90 days since the UK left the ambit of the EU at the end of the transition period. And more than one million UK people living in EU countries must adapt to the laws that apply to foreign residents. And if you have thought that maybe one day you would like to go to work or retire to an EU country what are the rules you will now have to follow? This week we look at Spain which is home to more people from the UK than any other EU country. Barry Davys is a partner in Spectrum International Financial Adviser group based in Catalunya.

Researcher: Sowda Ali
Producer: Ben Carter
Editor: Richard Vadon
Released:
Apr 10, 2021
Format:
Podcast episode

Titles in the series (100)

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