meta_pixel
Tapesearch Logo
Log in
Money Box

Pensions and 'drip pricing'

Money Box

BBC

Business

4.2804 Ratings

🗓️ 29 June 2024

⏱️ 26 minutes

🧾️ Download transcript

Summary

We hear from a pensioner on benefits who tells us she was shocked to find herself having to pay tax on her pension for the first time. With expert help, we explain the so-called ‘triple-lock’ mechanism and why the point at which you can be taxed on your pension has become a big talking point in the election campaign.

Also in the programme, sneaky hidden extras on your online shopping have been banned under new laws passed this month. So called ‘drip pricing’ is when consumers are shown an initial price for an item or service, only to find additional fees are added on later at the checkout. We look what the rules are and how they'll work.

Every time you use Mastercard or Visa debit or credit card to pay for something – the business you’re buying from has to pay fees. Some of these fees are optional, but many of them are mandatory. But now an interim report by the watchdog - the Payments Systems Regulator – found that these fees charged to shops and other businesses by Visa and Mastercard have been rising much faster than inflation, 30 % faster, but that there is no evidence that the service provided has improved

And we look at the scale of fake stamps in the UK. Royal Mail initially responded by charging people a penalty if they received items that were sent with a fake stamp. Although those fines are now ‘paused’, we reveal just how much they amounted to.

Presenter: Paul Lewis Reporters: Sarah Rogers and Neil Morrow. Researchers: Sandra Hardial and Neil Morrow Editor: Craig Henderson

(This programme was first broadcast Saturday June 1, 2024)

Transcript

Click on a timestamp to play from that location

0:00.0

On a winter's night in 1974, a crime took place that would obsess the nation.

0:07.0

It was an extraordinary news story.

0:09.0

The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny,

0:14.0

mistaking her for his wife, then somehow just disappeared.

0:18.0

One of the great mysteries in English criminal history. We're still looking for Lucan.

0:21.6

It's honestly one of the most powerful stories of my lifetime.

0:25.6

I'm Alex von Tundselman.

0:26.6

This is The Lucan Obsession.

0:28.6

Listen on BBC Sounds.

0:32.6

BBC Sounds, music, radio, podcasts.

0:35.6

Hello, welcome to this Moneybox podcast. A finance regulator says Visa and MasterCard have put up the price of paying with plastic but made little improvements in their service.

0:46.9

Royal Mail confesses it took hundreds of thousands of pounds in fines from people who used barcoded stamps, it says, were fake.

0:54.4

And have you been tripped by the drip?

0:57.0

Extra items added at checkout just as you're about to pay online?

1:00.8

Well, it's been banned, but not just yet.

1:04.4

But first, at the end of just the first week of the election campaign,

1:08.8

who was cheering, there's five more to go.

1:11.1

Income tax, VAT and pensions have already featured in the party's plans.

1:16.1

Last week, we asked you to contact us with the money issues you wanted politicians to tackle.

1:21.2

Lee Cowen from Worcester got in touch because she was shocked to find herself paying tax on her state pension for the first time,

1:28.0

despite her income being low enough to be entitled to other benefits.

1:32.1

Lee is retired, lives in rented social housing, and says money's getting so tight,

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from BBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2025.