23/08/2014 Your Money


Similar Content

Browse content similar to 23/08/2014. Check below for episodes and series from the same categories and more!



Johansson, and other films later in the film review.


Now on BBC News, this week's Your Money, with Declan Curry.


On TV, on your computer, on your tablet, on your mobile,


it's your weekly guide to making the most of your money.


Millions of us entitled to compensation,


but hardly anyone's claimed it yet and time is running out.


We'll tell you who's entitled to it and how to get the money.


Despite the autumnal weather outside, summer's not over quite yet


and there's still time for a few day trips before


So how do you keep the costs down to keep


Up to seven million people are entitled to compensation


because they were sold insurance they didn't need or couldn't use.


Seven million entitled to compensation,


The deadline for asking for your money back is the 30th of August.


And there's over ?1 billion available.


Sarah Pannells, editor of the money website Savvy Woman is here.


These are policies sold by a financial company called CPP, but


you might have bought it somewhere else, not from them directly.


A lot of people got these policies from their bank and there are two


different policies, car protection and identity fraud protection. If


you got car protection, you activated your card through your


bank and you were sold a policy by CPP so a big problem is that this is


not a household name. Most of the major banks were involved in selling


these policies but they were originated by CPP. CPP is writing to


people saying they might be time `` might be entitled to compensation


and people are saying, who? That is a problem because that are a lot of


scams saying you are entitled to different things and people thinking


they will not fall for it or they think it is junk mail designed to


sell us something we do not want. But you get a letter from CPP saying


they believe you are entitled to compensation, do not throw it away.


Fill it out and send it back by the deadline because the average amount


you will be getting is ?180. To claim this compensation, you need


this form and you need to send it to the right address. What if you threw


away the letter? You need another form. You cannot photocopy another


and you cannot write another letter saying you threw it away and you


need compensation. You have to get another form, and there is just


time. You can ring a freephone number but you have to get it back


quick because the deadline is the 30th. We will give that phone number


in a moment. Do you have to prove that you were sold the policy in the


first race and that it should not have been sold to you? `` first


place. You have to say you believe you were sold a policy in this


period. But the scheme has been set up either regulator and its


predecessor. There are strict rules about what CPP has to do. If you


were sold a car protection policy over the phone or if you ought one


online, the regulator takes the view that you are likely to have been


mis`sold it. `` if you bought one. Identity fraud online is different.


But for many who bought the car protection policy over the phone,


and they were often told they were getting benefits they did not need


because there is good protection already. The end of the August is


the deadline and if you miss it? They are saying that that is it.


They may look at it again but there is a lot of evidence showing when


compensation schemes are set up, quite a few people miss out on


claiming. There is more on yell website. `` your website. Thank you


for joining us. If you think you are entitled to this compensation and


you need another letter, there is a phone number.


It is free to call from landline numbers.


Phone bills are going up for some BT customers.


The headline rise in bills is up to 6`and`a`half percent, so well above


From the 1st December, standard line rental is going up by a quid.


The price each minute for calling a landline or an 0870 number is up


BT says most of its customers have package deals,


Another of those volcanoes in Iceland did a bit


You'll remember four years ago, when an ash cloud grounded planes


Airline bosses say they don't expect the same this time.


Insurance companies say we should check the small print


in our travel insurance policies, not all of them would pay out


The mobile phone company EE says it will let callers waiting for the


customer service helpline jump the queue, if they pay an extra 50p.


If you say yes, you'll be put through to


Hey, here's another idea, hire more operators!


Some of the supermarkets have cut their fuel prices.


Asda, Sainsbury and Tesco cut the cost of petrol by up to 2p


a litre, cut the cost of diesel by up to 1p a litre. Asda says drivers


will pay no more than 124.7 pence per litre for petrol and no more


Kevin Peachey likes getting out and about.


So we asked him to share his best tips for a cheap day out.


Ever popular, National Railway Museum in York, the Royal Navy or


college in London, Brighton Pier, they have one particular attraction


in common, free entry `` Royal Navy or college. Visitor attractions


increased last year in the UK, but visits to sites which charged an


entrance fee like here at the Tower of London rose faster. The question


is, why? Paid attractions have grown faster and it may be because the


recovery of the contrary `` of the economy means people have more money


but investment is key and may be the paid for attractions are more able


to invest in marketing and digital platforms like mobile phone


applications, allowing attractions to reap the benefits and increase


visitor numbers. The same trend was seen in Scotland but the reverse was


true in Wales, and free entry does not guarantee a cheap day. This is


the British Museum, the most popular attraction in the UK. Entry through


those doors is free once inside, entry to a temporary exhibition will


cost ?10 for an adult to kick. `` ticket. This sum which is ?4 and


using the cloakroom will cost ?1 50, before you even reach the gift shop.


Visitors welcome and free admission to the Museum and art gallery in


Bristol but they admitted they had still been spending. We spent a lot


of money in the cafe and in the shop. We did spend some money but we


did not give a donation and we should have done. No matter what it


costs, as long as you have a good day out, that is all that matters.


It is important places like this stage three, you should donate money


if you can afford it but people should be able to look around ``


stay free. How to keep the costs at bay? It is about preparation and


research, do a picnic. Give the children a limit on what they can


spend in the gift shop or tell them they campaign out of their pocket


money. Have a look on the Internet before you go and see what other


families are saying, pick up tips about a free or cheap way of going


out. Do use your points, vouchers, whatever, because there are quite a


lot of. And if you have to go by train, get a card meaning you can


get money off your tickets. So good planning should keep down the costs,


whatever the price of the ticket. Always generous!


Most of us dream of the day we can give up the day`job.


For many pensioners, that dream doesn't always become reality,


as they have to carry on working in old age to make ends meet.


Assuming you want to have 16`grand a year to live on in old age,


if you live for 20 years in retirement, which is the average,


you'll need pension savings of more than ?120,000 when you retire.


If you live for 25 years after retiring, the Prudential


reckons you'll need a pension pot of ?139,000 when you retire.


If you live for 30 years, you'll need ?154,000 in pension savings.


Alan Higham is Retirement Director at the investment company


Those are very big amounts of money you need for not very much money


coming out at the other end. This is what happens with retirement, we


underestimate how much it will cost and we overestimate how much we


have. Yes, you are right. From my own experience with my mother, it


was worse because she did not want to think about it. I offered her a


number of amounts of help and she said, no, and only three months


beforehand did she take it seriously. People can help


themselves but they must face up to it a number of years beforehand. We


will listen to your tips! You say three months, that is no time to try


to get your finances into a fixed state for retirement. Is there a


point where it is too late? It is never too late to have a better


retirement and I helped my mother with a couple of things. The most


valuable when people can do is at the point of retirement to consider


deferring their state pension. Because we have these new pension


freedom rules now, you can use even a relatively small part of 20 `` of


?20,000 to fund your state pension for three or four years and when the


state pension comes in, it will have increased 20% a year on top of


inflation, doubling the amount. If you delay taking the state pension,


you get a bigger pay`out. But the rules are changing. For pensioners


in a couple of years from now, they would need to delay it by more than


a decade. Absolutely, but prices are changing for people who wreak state


pension age so people retiring now or before April 2016, these are


generous terms available for them. usually much more expensive than the


savings that you earn on your retirement funds, and under new


rules from April, if you are over 55, you can access your pension fund


early. If you were to pay your mortgage offer early, you could save


?1500 a year in charges which could help rebuild your pension fund


afterwards. And do not underestimate the amount of time you will have to


have living on your pension fund! Having more in a state pension can


help you do that. A longer and more active lives, what we all want. That


is all for this week. Keep up to date all week by looking at the Your


Money pages on the BBC website. After 17 years on this channel, this


is my last show for a while, so thank you for watching.


The Home Secretary says she's taking action to counter the problem


of British citizens travelling abroad to engage in terrorism.


Two men are charged in connection with the death


Download Subtitles