UK Money

£495m paid into 'pension scams'

Pensions minister Steve Webb said people should make sure they understood all the implications before signing

People saving for their retirement are being warned to beware of cold calls, texts or website offers claiming to help them cash in their pot, as the total known amount paid into pension scams now stands at £495 million.

Degree costs set to rise to £26,000

The cost of a three-year degree will amount to around £26,109

Students heading off to university next year can expect to pay more than £26,000 for a three-year degree, as the cost of higher education rises.

Housing squeeze worsens for young

On average, people who own their own home spend 20% of their income on their mortgage

The proportion of young people who have been squeezed out of the housing market in England has grown since the financial crisis, new figures indicate.

Mortgage approvals 'rising again'

Mortgages worth £10 billion were given the green light last month

Mortgage approvals increased for the first time in five months in June as stricter rules around home loan applications started to bed in, banks have reported.

Wage growth signal over rate rise

Bank of England governor Mark Carney's remarks could dampen speculation about a rate hike by the end of this year

Bank of England governor Mark Carney has signalled that Britain's faltering wage growth is to have an increasingly important bearing on when interest rates will rise.

Birthday loan promotion banned

The Citizens Advice charity complained that an ad promoted a casual 'worry-free' attitude to taking out a short-term loan

An email from payday lender Pounds to Pocket has been banned for encouraging customers to use a short-term loan to fund birthday celebrations.

Disability benefits flaws 'grave'

Committee chair Dame Anne Begg called on Mark Harper, who was appointed minister for disabled people in last week's Government reshuffle, to respond positively to the report's recommendations

Flaws in the benefit system for people with disabilities and health conditions are so "grave" that they cannot be solved simply by rebranding eligibility tests and appointing a new private sector contractor to conduct them, a parliamentary report has said.

Benefit from pension delay to fall

Pensions minister Steve Webb revealed the plan to cut the rate in a written ministerial statement

People who delay their state pension from 2016 are to see the amount of extra benefit from doing so become less generous under new proposals.

Benefit claimant letters 'unclear'

A new report examined those on Jobseeker's Allowance referred to a mandatory back to work scheme such as the Work Programme

Some vulnerable people are only finding out they have been stripped of unemployment benefits when their cards are refused at cash-points, according to a review which found inadequacies in official communications with claimants.

Places plan for poorest pupils

The pupil premium is aimed at closing the achievement gap between rich and poor youngsters

All schools could be allowed to offer priority places to the poorest children in their area under new plans put forward by ministers.

Equitable Life payouts hit £972.9m

160,000 Equitable Life policyholders are still due a payout

Payments totalling £972.9 million have now been made to victims of the Equitable Life scandal but 160,000 policyholders who are due a payout still need to be tracked down, the Government has said.

Home values 'rising £90 a day'

Research suggests homes across Britain typically added £90 to their value every day during the first half of 2014

Homes across Britain typically added £90 to their value every day during the first half of 2014 as the housing market gathered momentum, according to a property website.

Home sales 'highest since 2007'

Home sales have hit their highest level since 2007, figures suggest

Sales of UK homes reached their joint highest levels since 2007 in June, according to HM Revenue and Customs (HMRC) figures.

Student loans 'at tipping point'

The report suggests that the Government is already struggling to collect student loan debts

The student loans system is at "tipping point" due to Government miscalculations and problems with collecting repayments, a cross-party group of MPs has warned.

Tech goods 'more expensive in UK'

The Microsoft Xbox One costs £57 more in the UK than the US, according to Which?

UK consumers are getting a "raw deal" by paying significantly more for technology products than US shoppers, a watchdog has reported.

Osborne plays down benefit reports

Child benefit was means tested for the first time last year

Chancellor George Osborne has sought to play down reports that the Conservatives are backing plans to stop families claiming child benefit for more than four children.

House price growth forecast raised

House prices have fallen 0.8 per cent so far this month, figures show

Property website Rightmove has raised its forecast for annual house price growth in 2014, despite a fall in values this month for the first time this year.