Paul Lewis

London

Financial journalist, broadcaster, and speaker. Seek the truth, find the truth, tell the truth. Unequivocally for free speech & press. Wilkie Collins expert too

Articles

Paul Lewis: June money news

4 weeks ago | saga.co.uk | Paul Lewis

Better bonds A set of new fixed-term bonds offering reasonably attractive rates of interest have been launched by National Savings & Investments (NS&I). You can save over one, two, three or five years and earn 4% or a smidge more with what it calls Guaranteed Growth Bonds. The interest is taxable at the end of the bond’s term, and you cannot withdraw the money before then. You can invest between £500 and £1 million in each.
‘Our volunteers’ work on pensions is impressive’

1 month ago | theactuary.com | Paul Lewis

Actuaries make a valuable and vital contribution across the financial sector, but recently I’ve been impressed by the amount of work that IFoA volunteers are doing to raise the profile of pensions. I’d like to highlight some examples:1 Gen Z reportIn February, the IFoA worked with the Pensions Policy Institute on a report about the pension concerns of Generation Z.
Paul Lewis: May money news

1 month ago | saga.co.uk | Paul Lewis

Payouts dropped There will be no compensation for the 46,000 customers of Safe Hands funeral plan firm. They lost around £70 million between them when the company went bust in 2022. Now, the Financial Conduct Authority (FCA) has announced it will ignore a report by its own complaints commissioner that said it should reconsider compensating people who lost money.
Paul Lewis: what the new financial year means for you

2 months ago | saga.co.uk | Paul Lewis

Pension updates for 2025Your state pension will rise from 7 April by up to 4.1%. The standard new state pension will be £230.25 a week and the basic old state pension £176.45. But millions will not see the full effect of this rise until May; some will have to wait until 30 May. Most pensioners are paid four weeks in arrears. The date the first payment arrives depends on two things: your payday and your payment cycle. Both are set by your National Insurance number.
Paul Lewis: April money news

Mar 30, 2025 | saga.co.uk | Paul Lewis

Higher bills for allThe main thing growing this spring is the price of essentials. On 1 April, electricity and gas prices are up 6.4%, council tax is going up by 4.9% in most parts of Britain (more in some), a TV licence is £5 a year more, and water will cost on average £603 a year in England, a rise of £123 or 26%. The biggest increase is for customers of Southern Water with new bills averaging £703, up an eye-watering £225 a year, or 47%.
Paul Lewis: March money news

Mar 6, 2025 | saga.co.uk | Paul Lewis

How to make a will for freeIf you do not have an up-to-date will – and nearly one in three of those aged 55-plus don’t – then sign up for Free Wills Month. The solicitors taking part in 40 towns and cities across England and Scotland will make a simple will, or pair of wills for a couple, free of charge as part of the scheme, which runs this month. The 23 organising charities hope you’ll include a legacy to one of them, but it is not compulsory.
Dying tidily - Paul Lewis with the letter that's vital to getting your affairs in order

Mar 4, 2025 | saga.co.uk | Paul Lewis

Do you have a will? I assume so. If not, see a solicitor and make one – it's Free Wills Month now in March, so book an appointment now. Your solicitor should also tell you about a Letter of Wishes. That’s an annex to your will and tells your heirs more about what you would like to happen to you and your stuff. Unlike a will, it’s not binding. Your heirs can ignore it unless they all agree to follow it. So put the important things in your will.
Energy costs are set to rise – here’s what you can do to avoid being stung

Feb 26, 2025 | saga.co.uk | Benjie Goodhart |Paul Lewis

The price cap on gas and electricity prices is set to rise on April 1st, as announced on Tuesday by the energy watchdog Ofgem. It will be increasing by 6.4% adding an extra £111 per year to the average energy bill of £1,849. That is £600 higher than before Russia’s invasion of Ukraine three years ago. It’s the third consecutive increase in the price cap, which is set every three months, and came as very unwelcome news, particularly to pensioners.
Paul Lewis: women's pensions and the latest on winter fuel support

Jan 30, 2025 | saga.co.uk | Paul Lewis

Sting for WASPIs The Government has ruled out compensating women born in the 1950s for the rise in their state pension age from 60 to 65 or 66. Liz Kendall, the Secretary of State for Work and Pensions who spoke in favour of WASPI women before she was in Government, told Parliament in December that "there should be no scheme of financial compensation to 1950s-born women".
Paul Lewis: why being married is good for your tax bill

Jan 29, 2025 | saga.co.uk | Paul Lewis

Your wedding day is a very special day in so many ways. But one benefit you may not have celebrated, is that you can use it to avoid large chunks of tax for you and your heirs. That’s because the best tax plan is often to marry the one you love – or, of course, civil partner them, which is just as effective. And you can do either at a local register office for a couple of hundred pounds – including a bottle of Champagne afterwards.