Money Box

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Future of Pensions and Heat Networks Aug 01, 2025

Show notes

Reform of the state pension, auto-enrolment into company pensions and consolidation of small pensions spread across several providers are proposed this week in a major report on the future of pensions. It says major changes are are necessary to ensure today's workers have an adequate income in retirement. The conclusions come at the end of a two year study by the independent research organisation the Institute for Fiscal Studies, we'll speak to them about the report.

Hundreds of thousands of people whose homes are heated using communal heat networks are less than 6 months away from greater protection as the industry gets ready to come under Ofgem regulation for the first time. Up until now people in homes that are on heat networks, which use a single heat source to pipe hot water to multiple households, have not had the same rights as those on mains gas or electricity, but that is about it change. What difference could the new regulations make?

How could the way you get financial advice change in the future? We'll discuss new proposals by the regulator the Financial Conduct Authority aimed at helping more people get financial advice.

And, what would you like to see on a new bank note from the Bank of England? Email us now moneybox@bbc.co.uk

Presenter: Paul Lewis Reporters: Dan Whitworth and Jo Krasner Researcher: Eimear Devlin Editor: Jess Quayle

(audio credit British Pathé)

(First broadcast 12pm Saturday 5th July 2025)

Money Box Live: Behind Bars Jul 29, 2025

Show notes

In this special programme Money Box Live has been given exclusive access to a centre working with former prisoners to find out how money works behind bars.

There are around 98,000 people serving prison sentences in the UK right now, but how does money work on the inside and why do offenders even need it?

Felicity Hannah meets former prisoners working in the centre as they rebuild their lives. They talk about so-called 'bang up' pay, how much you can earn in prison, and the struggle some ex-offenders have getting basic financial products like a bank account on release.

Around one third of ex-offenders will go on to reoffend costing taxpayers £18 billion a year as well as causing great distress to victims. So, what role can financial security play in reducing that?

Felicity Hannah is joined by Andrea Coady, Head of Policy at Nacro, a social justice charity that works with offenders and Ana Caldeira, in charge of Finance, Benefit and Debt Services at the charity Catch 22, which provides money advice and support to ex-offenders.

Presenter: Felicity Hannah Producer: Sarah Rogers Editor: Jess Quayle

(This episode was first aired on Radio 4 at 3pm on Wednesday the 2nd of July 2025)

Warm Home Discount and Teachers' Pension Jul 25, 2025

Show notes

Six million people will have £150 knocked off one winter electricity bill this winter. The Government has announced an expansion of the Warm Home Discount scheme which will almost double the number getting it. Who is eligible and how will people get the payment?

Money Box has been receiving a steady stream of emails from members of the Teachers' Pension Scheme complaining about how their pensions are being managed. With more than 2 million members and liabilities of £278 billion the TPS is one of the largest in the UK. So what is going on? Dan Whitworth investigates.

Child maintenance is a regular financial payment made by a parent who doesn't live with their child to help support the child's living costs. This week the government has announced plans for some significant changes to the way those payments are collected and transferred. We'll explain what's changing.

Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Eimear Devlin and Jo Krasner Studio Producer: Sarah Rogers Editor: Jess Quayle

(First broadcast 12pm Saturday 28th June 2025)

Money Box Live: Does Being Single Cost You More? Jul 22, 2025

Show notes

More people are living alone, in fact 3 in 10 households are made up of single adults, according to the latest government figures.

Research from the pension specialist Royal London also suggests single people are more likely to be in their overdrafts at the end of the month and have smaller savings and pension pots than married couples.

Today, we're looking at the impact of the single supplement, from travel costs to inheritance tax thresholds as well as hearing from those very much enjoying their financial freedom.

Joining presenter Felicity Hannah is Sarah Pennells, Consumer Finance specialist at Royal London and Laura Suter, Director of Personal Finance at the investment platform AJ Bell.

Presenter: Felicity Hannah Producers: Sarah Rogers and Helen Ledwick Editor: Jess Quayle

(This episode was first broadcast on at 3pm on Wednesday the 25th of June 2025 ).

Child Trust Funds and the Cost of Insurance Jul 19, 2025

Show notes

Campaigners say more needs to be done to help the parents and carers of tens of thousands of disabled young adults access their own money held in Government backed Child Trust Funds. The Financial Inclusion Commission has told Radio 4's Money Box it wants the Government to officially endorse an informal process that some financial providers are already using to help grant access in days, instead of months or, in some cases, not at all.

The cost of insurance might be falling but if you choose to pay monthly then you could be paying an extra 20-30% more. The Financial Conduct Authority has been carrying out a study into the market but what can it do to help protect people who can't afford to pay the whole amount up front

And we also look why a record number of people are taking money out of their pension pot as soon as they're able to at the age of 55. What could be the impact on your financial situation later in life?

Presenter: Paul Lewis Reporter: Dan Whitworth and Jo Krasner Researchers: Eimear Devlin and Catherine Lund Editors: Sarah Rogers and Justin Bones

Money Box Live: AI and Your Money Jul 15, 2025

Show notes

Three quarters of financial firms are already using Artificial Intelligence, according to the Bank of England and the Financial Conduct Authority, with more set to follow in future.

Last month a new inquiry by the Treasury Committee began looking into the potential impacts of AI in banking, pensions and other financial services.

So what does that all mean for your money? We speak to the experts about how it's being used, the rise of the chat bot and how to spot AI scams after one woman lost £10,000 to fraudsters.

Joining Felicity Hannah this week are Gbenga Ibikunle, Professor and Chair of Finance of Edinburgh University and Jana Mackintosh, Managing Director for Payments and Innovation at UK Finance.

Presenter: Felicity Hannah Producer: Sarah Rogers and Catherine Lund Editor: Sarah Rogers

(This episode was first broadcast at 3pm on Radio 4 on the 18th of June 2025)

Bailiffs and Premium Bonds Jul 11, 2025

Show notes

We'll discuss proposals to reform the bailiff industry, hearing from a man whose small parking fine ballooned into a debt of more than £400 once bailiffs got involved. Paul Lewis interviews the minister responsible for the planned changes: will they be fair on both creditors and debtors and will they bring rogue bailiffs into line?

Also, the Chancellor's changes to the Winter Fuel Payment have been broadly welcomed by Britain's pensioners, but how easy will it be for them to manage the payment when it comes to filling in their tax returns? With the help of a personal tax expert, we try to answer your questions.

And what are Premium Bonds and what are your chances of winning a prize? We've got the definitive guide with Sir David Spiegelhalter, Emeritus Professor of Statistics at the University of Cambridge.

Presenter: Paul Lewis Reporters: Dan Whitworth and Eimear Devlin Researcher: Jo Krasner Editors: Jess Quayle and Rob Cave

(First broadcast 12pm Saturday 14th June 2025)

Water Bills and How to Save? Jul 04, 2025

Show notes

New research, seen exclusively by Money Box, suggests a third of households in England and Wales are trying to cut the amount of water they use to help reduce their bills. The research comes from the Personal Finance Research Centre at the University of Bristol which worked with the Financial Fairness Trust to speak to 6,000 households about their money situation. On water bills, 34% said they're using less to try to cut their bills with around 30% saying their bills have increased "a lot" over the past 6 months. What can people do to bring their bills down?

Some major mortgage lenders have been relaxing their lending rules to make it easier for people to borrow the money to buy a home. They have been encouraged by a letter from the regulator, the Financial Conduct Authority, which reminded them that they had flexibility around what is called the stress test, which is supposed to ensure borrowers can meet their monthly payments even if rates rise or their circumstances change. What does that mean for the risks around lending?

The listeners puzzled by a 25p rise in their state pension because of a rule that started back in 1971.

And, how much do you know when it comes to savings? If you don't know your Premium Bonds from your ISA and where to put your money to make the most out of your cash, we'll give you a little bit of help.

Presenter: Paul Lewis Reporters: Dan Whitworth, Peter Ruddick and Jo Krasner Researchers: Eimear Devlin and Rob Cave Editor: Jess Quayle

(First broadcast 12pm Saturday 7th June 2025)

Avoiding Scams and Changes to Wills Jun 27, 2025

Show notes

Hundreds of millions of pounds was stolen from people in 2024 by thieves who tricked them, manipulated them, and then drained their bank accounts. The latest figures from UK Finance show that more than £450m was handed over to criminals in that way. That was slightly less than in 2023 but there were fewer cases - down 20% to just under 186,000. So those who were robbed lost more - an average of more than £2,400. What kind of scams were most common and what can you do to avoid them?

There have been several high profile cyber attacks on businesses recently. But apart from downed deliveries and empty shelves, what impact can they have on other areas of a business that weren’t directly attacked?

Major changes to the laws about making a will have been proposed to the government by the Law Commission. Its job is to recommend changes in the laws in England and Wales to improve or simplify them.

And what should people do if they think they’re owed compensation by their energy company following the prepayment meter scandal?

Presenter: Paul Lewis Reporter: Sarah Rogers Researcher: Eimear Devlin and Jo Krasner Editor: Jess Quayle

(First broadcast at 12pm on Saturday 31st May, 2025)

'Making Tax Digital' and Bank Charges Jun 20, 2025

Show notes

Hundreds and thousands of sole traders and landlords are facing a significant change in how they file their tax returns. In less than a year 800,000 people with a turnover of above £50,000 who fill out self assessment tax returns will have to fill out summaries four times a year, and then do their final self assessment too. It's all part of something called "Making Tax Digital". Paul Lewis interviews James Murray who is the Exchequer Secretary to the Treasury.

Hundreds of millions of pounds has been paid out to people who were underpaid their state pensions. We'll discuss who they are, and talk about another group of people who could be eligible but haven't claimed.

And, listeners who volunteer with community groups like film clubs, girl guides and charity fundraising groups have been contacting Money Box upset over new charges they're facing to use their bank accounts. What options are there for those affected?

Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Eimear Devlin and Jo Krasner Editor: Jess Quayle

(First broadcast 12pm Saturday 24th May 2025)

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