How to give yourself a pay rise
Money Box
BBC
4.2 • 825 Ratings
🗓️ 19 October 2019
⏱️ 29 minutes
🧾️ Download transcript
Summary
This week the decision was made to wind down the funds managed by ‘star’ manager Neil Woodford. Listeners have been in touch wanting to know what this means for their money and if they will be able to claim compensation. We discuss with Mark Polson from The Lang Cat Financial Consultancy and Anna Sofat from Addidi Wealth.
The Financial Conduct Authority has announced plans to ban the way in which some car retailers receive commission based on the interest rate of the car finance loan they arrange. Good news for consumers?
And we speak to a company that allows employees to award themselves a pay increase.
Presenter: Ruth Alexander Producer: Alex Lewis Editor: Emma Rippon
Transcript
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| 0:00.0 | You're about to listen to a BBC podcast, but this is about something else you might enjoy. |
| 0:05.4 | My name's Katie Lecky and I'm an assistant commissioner for on demand music on BBC Sounds. |
| 0:10.8 | The BBC has an incredible musical heritage and culture and as a music lover, I love being part of that. |
| 0:17.5 | With music on sounds, we offer collections and mixes for everything, from workouts to |
| 0:22.4 | helping you nod off, boogie in your kitchen, or even just a moment of calm. And they're all put |
| 0:28.3 | together by people who know their stuff. So if you want some expertly curated music in your life, |
| 0:35.0 | check out BBC Sounds. |
| 0:41.2 | BBC Sounds, music, radio, podcasts. |
| 0:50.3 | Hi, I'm Ruth Alexander. In today's Moneybox podcast, we're talking about the secretive world of car finance deals and how to give yourself a pay rise. |
| 0:55.7 | But first, this week, arguably the UK's most famous fund manager, Neil Woodford, |
| 1:02.8 | announced the end of his investment empire. For 30 years, he made a lot of people, a lot of money. |
| 1:07.9 | But more recently, his fortunes turned and people started pulling their money out. |
| 1:12.1 | In June, his £3 billion flagship fund was frozen, |
| 1:17.4 | and this week closed permanently. So what does this mean for those invested? |
| 1:23.1 | I've been speaking to Moneybox listener Helen from Leicestershire, who had £57,000 in the now frozen fund. At first, it did it seem like a good decision. |
| 1:27.1 | I was getting a reasonable return |
| 1:29.2 | in terms of income. It was quite reasonable in terms of other equity income funds. And equity |
| 1:35.0 | income is, I'm not a risk taker. It's, in stock market terms, it's not a huge risk, really. |
| 1:41.6 | It shouldn't be. So that's why I'm just absolutely mortified by |
| 1:46.6 | what's happened. The last time I looked, the 57,000 had gone down to 35,000, which was the |
| 1:53.0 | latest valuation. And of course, that's not the end of it, because why I actually get back |
| 1:58.5 | will depend on what happens to the stock market. |
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