Paying with Cash and Pension Age Rise

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 1 November 2025

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Cash now accounts for less than 10% of all the retail payments we make. New figures out this week UK Finance, which represents banks and others, show the latest in the long term decline of cash. Just over a year ago new rules from the regulator, the Financial Conduct Authority said banks had to ensure customers had access to their cash and could take their money out in cash, but at the same time the number of shops putting up the card only signs has increased. What does that mean for the future of cash?

On Monday it will be 6 months until the state pension age begins to rise from 66 to 67. How will that transition work?

The price cap on electricity and gas went up this week - affecting millions of households across England, Wales and Scotland. The energy regulator, Ofgem, says gas and electricity bills will increase by an average of 2% but it's the costs of electricity that's rising, not gas.

And what can do to ensure that your pension is being invested ethically?

Presenter: Paul Lewis Reporters: Luke Wilson and Niamh McDermott Researcher: Eimear Devlin and Jo Krasner Editor: Jess Quayle Senior News Editor: Sara Wadeson

(First broadcast 12pm Saturday 4th October 2025)

Transcript

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0:00.0	BBC Sounds, Music, Radio, podcasts.
0:07.3	Welcome back to the home of the oxymoron.
0:10.5	Evil genius.
0:11.6	He asked the newspaper to print his obituary early so he'd enjoy it.
0:15.5	That's like hiding at your own funeral.
0:17.1	Yeah, a bit great gig.
0:18.6	I'm Russell Kane.
0:19.6	Join me to weigh in on whether the biggest players in history are more evil or genius.
0:24.1	Becoming that rich, I'd say that is some level of genius.
0:26.4	It also helps that it's a long time ago, right?
0:29.4	It's like the podcast version of telling your kids the ice cream van plays music when it's
0:33.5	out of ice cream.
0:34.9	Listen to evil genius on BBC Sounds.
0:38.0	Hello, welcome to this Moneybox podcast. In six months, the state pension age begins to rise
0:44.2	from 66 to 67, but a former pensions minister tells me people should still pay more for it.
0:51.9	We're told energy prices have gone up 2% this week. In fact, with gas, the
0:56.1	price is lower. It's the standing charge for being connected that's been whacked up. And is
1:01.9	your pension invested ethically? And what can you do if it's not? But first, cash now accounts
1:08.0	for less than 10% of all the retail payments we make.
1:12.0	In 2012, one in two payments were in cash.
1:15.1	Now it's less than one in 10, says the bank's trade body, UK finance this week.
1:20.3	And the fall is despite new rules which began a year ago,
	...

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