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Money Box: Saving with multiple accounts; Pension charges; Debts of the dead

Saving with multiple accounts; Pension charges; Debts of the dead

02/11/2013

BBC Radio 4 - Money Box, Saving with multiple accounts; Pension charges; Debts of the dead

Stash your savings in multiple current accounts, not savings accounts, for the best rates.

Stash savings in multiple current accounts; Charges caps for auto-enrolment pensions; Mortgage confusion on child support money; Do relatives have to pay the debts of the dead?

On Money Box with Paul Lewis:

If you want the best rates on your savings stick them in a current account. You can get up to 5% on the balance, though the amount it is paid on is limited. But as one listener found, you can open more than one. And set up a carousel of standing order payments to fulfil the 'you must pay in £1000 a month' rule. We find the best deals.

The Government wants to cap the charges that can be made on auto-enrolment pensions. Over the next four years every employer, however small, will have to offer a pension for their workers and almost everyone will be automatically enrolled into it. Charges can eat away half the amount paid into your pension over a working lifetime. So the government wants to make sure they are not too high. But is it going far enough? Or too far? The Minister answers his critics.

"It's only when the world tips sideways that unknown and Shocking processes are revealed." Julia wrote that to us. Her sideways tip came when her daughter Hannah took her own life this summer. But Julia was still being pestered by letters trying to recover Hannah's small debts even though she has told the companies of her death and that she left no money. Who does have to pay the debts of the dead? And how should collection agencies treat the living?

Divorced and separated women are being penalised by mortgage lenders who have different rules about how they treat child support payments. Some don't count them as income at all. Others count half and some insist on court orders. That makes it harder for them to take over a previously joint mortgage or take out a new mortgage of their own. We reveal the best and the worst.

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Saving with multiple accounts; Pension charges; Debts of the dead

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