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| Version 3 | Version 4 |
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| Cash creation hits annuities | Cash creation hits annuities |
| (about 2 hours later) | |
| BBC Radio 4's Money BoxSaturday, 14 March 2009at 1204 GMTOn Radio 4 and Online | BBC Radio 4's Money BoxSaturday, 14 March 2009at 1204 GMTOn Radio 4 and Online |
| People due to buy an annuity shortly will see them drop in value after the injection of £75bn into the economy by the Bank of England. | People due to buy an annuity shortly will see them drop in value after the injection of £75bn into the economy by the Bank of England. |
| Insurance companies pay out annuities - a regular income from a retiree's pension pot - based on the yields made from government bonds or gilts. | Insurance companies pay out annuities - a regular income from a retiree's pension pot - based on the yields made from government bonds or gilts. |
| These yields have dipped dramatically after the Bank announced its operation to begin quantitative easing - creating £75bn to buy these gilts. | These yields have dipped dramatically after the Bank announced its operation to begin quantitative easing - creating £75bn to buy these gilts. |
| Rash Bhabra from actuaries Watson Wyatt explains why the injection of money into the economy will impact on annuities and we speak to Stuart Bayliss of Annuity Direct. | Rash Bhabra from actuaries Watson Wyatt explains why the injection of money into the economy will impact on annuities and we speak to Stuart Bayliss of Annuity Direct. |
| Related stories / further information: | Related stories / further information: |
| Cash creation clobbers annuitiesQ&A: Quantitative easingQ&A: AnnuitiesExternal internet links | Cash creation clobbers annuitiesQ&A: Quantitative easingQ&A: AnnuitiesExternal internet links |
| Some banks are demanding 100% personal guarantees from borrowersSmall business loans | Some banks are demanding 100% personal guarantees from borrowersSmall business loans |
| With estimates that as many as 120 small businesses a day are now going under, the government has been desperately trying to persuade banks to lend money to firms that are viable. | With estimates that as many as 120 small businesses a day are now going under, the government has been desperately trying to persuade banks to lend money to firms that are viable. |
| In January it launched a £1.3bn lending scheme which would offer banks a tax payer guarantee for 75% of the value of certain loans if a firm defaulted. | In January it launched a £1.3bn lending scheme which would offer banks a tax payer guarantee for 75% of the value of certain loans if a firm defaulted. |
| But many small businesses are unaware the scheme exists, and of those that are, there are complaints it is not delivering what it promised. | But many small businesses are unaware the scheme exists, and of those that are, there are complaints it is not delivering what it promised. |
| Bob Howard reports and Paul Lewis speaks to Steve Cooper, managing director of Local Business Banking for Barclays and Shriti Vadera, Minister for Economic Competitiveness and Small Business. | Bob Howard reports and Paul Lewis speaks to Steve Cooper, managing director of Local Business Banking for Barclays and Shriti Vadera, Minister for Economic Competitiveness and Small Business. |
| Have Your Say: Small business loans | Have Your Say: Small business loans |
| Related stories / further information: | Related stories / further information: |
| href="/1/hi/programmes/moneybox/7943663.stm">Firm loan guarantees 'on course' class="bodl" href="/1/hi/business/7827273.stm">Small business loan plan unveiledDetails of the business loan schemesExternal internet links | |
Have you been offered cheap insurance for your phone?Mobile phone "scam" | Have you been offered cheap insurance for your phone?Mobile phone "scam" |
| Trading Standards in Swansea is investigating several companies over sales of mobile phone insurance. | Trading Standards in Swansea is investigating several companies over sales of mobile phone insurance. |
| Many people who buy a new phone are being called within hours and offered a cheaper deal than the one they bought with the phone. | Many people who buy a new phone are being called within hours and offered a cheaper deal than the one they bought with the phone. |
| But in some cases money has been taken from their account without any adequate cover being provided. Samantha Washington reports. | But in some cases money has been taken from their account without any adequate cover being provided. Samantha Washington reports. |
| Related stories / further information: | Related stories / further information: |
| Warning over mobile phone scamExternal internet links | Warning over mobile phone scamExternal internet links |
| Women often have contribution gaps after caring for dependantsState pension | Women often have contribution gaps after caring for dependantsState pension |
| People with gaps in their National Insurance contributions record between 1996/97 to 2001/02 have just three weeks to act if they want to boost the value of their state pension. | People with gaps in their National Insurance contributions record between 1996/97 to 2001/02 have just three weeks to act if they want to boost the value of their state pension. |
| Voluntary or Class 3 National Insurance contributions can usually be paid for any of the previous six years, but because deficiency notices for the years 1996/97 to 2001/02 were not sent until 2004 or 2005, time limits were extended. | Voluntary or Class 3 National Insurance contributions can usually be paid for any of the previous six years, but because deficiency notices for the years 1996/97 to 2001/02 were not sent until 2004 or 2005, time limits were extended. |
| But not everyone can or should make up the shortfall. | But not everyone can or should make up the shortfall. |
| We discuss the options with Malcolm McLean, chief executive of The Pensions Advisory Service. | We discuss the options with Malcolm McLean, chief executive of The Pensions Advisory Service. |
| Related stories / further information: | Related stories / further information: |
| Extra pension will cost nothingPension boost for married womenPensions staff gave wrong adviceExternal internet links | Extra pension will cost nothingPension boost for married womenPensions staff gave wrong adviceExternal internet links |
| BBC Radio 4's Money Box was broadcast on Saturday, 14 March 2009 at 1204 GMT. | BBC Radio 4's Money Box was broadcast on Saturday, 14 March 2009 at 1204 GMT. |
| The programme will be repeated on Sunday 15 March 2009 at 2102 GMT. | The programme will be repeated on Sunday 15 March 2009 at 2102 GMT. |