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: May money news

2 weeks 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

1 month 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

1 month ago | 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

2 months ago | 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

2 months ago | 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

2 months ago | 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.
Paul Lewis: December money news

Nov 28, 2024 | saga.co.uk | Paul Lewis

Fairer fraud refunds More people who have money stolen from their bank accounts should get it back under new rules that began on 7 October. Banks are now obliged to refund the loss unless they can show ‘gross negligence’. If you are conned into helping thieves transfer money to what they call a ‘safe’ account, but which is in fact theirs, ask your bank to refund you. If it argues, go to the Financial Ombudsman. The payment should come in a week – but can take seven weeks in ‘complex cases’.
energy bills and stamps have gone up, but it's not too late to claim Pension Credit

Nov 13, 2024 | saga.co.uk | Paul Lewis

Higher energy billsThe price of electricity and gas rose last month, putting up a typical bill by nearly 10%. That more than wipes out the 7% cut on 1 July. The price of each unit of gas is up nearly 14%, while each unit of electricity rose by nearly 10%. Standing charges – which you pay just to be connected – have also risen a little and it now costs £6.50 per week just to have both fuels delivered to your home if you pay by monthly direct debit or have a prepayment meter.