Top news
- State pension likely to rise by 4% next year
- Oasis and Ticketmaster urged to refund fans - as law 'may have been broken'
- Will White Maltesers return to UK shops? We asked Mars...
Essential reads
- How to get ridiculously cheap flights - by Jack's Flight Club employee
- How data roaming charges compare by network
- How your pension could be taxed
Tips and advice
- Money Problem: How can I buy a shared property outright?
- Free school meals guide
- Cheapest holidays dates before Christmas
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How much would you spend on an engagement ring?
Engagement rings can be traced back as far as Ancient Rome - but the modern diamond only came into fashion in the late 1930s.
Now, almost a hundred years on, we are asking - are they still relevant, and how much would you spend on one?
Tell us your stories - do you even have one?
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State pension likely to rise by £460 a year after jobs data released
The state pension is likely to rise by 4% next year, according to the latest jobs data released this morning.
This equates to approximately £8.85 more a week for pensioners, or £460 a year.
The triple lock commits the government to increasing pensions every April by whichever is highest - inflation (the figure for September, published in October), average wage growth between May and July (published just now) or 2.5%.
The government is legally required to raise pensions by at least average earnings growth.
Figures today show average weekly earnings rose by 4% in the three months to July.
Inflation data for September has not yet been published but stood at 2.2% for July, according to the Office for National Statistics.
The pension rise comes as the government is under pressure having scrapped the winter fuel allowance.
Pensioners to learn probable state pension rise this morning
Jobs data published shortly could have a significant impact on the money in your pocket.
The average earnings growth figure published by the Office for National Statistics at 7am this morning is likely to set next year's state pension rise.
The triple lock commits the government to increasing pensions every April by whichever is highest - inflation (the figure for September, published in October), average wage growth between May and July (published today) or 2.5%.
It is estimated wage growth will come in at around 3.7%, which is very likely to be higher than inflation (currently 2.2%).
This would result in a rise of around £400 to the full state pension in April.
It is sometimes forgotten that, regardless of the political commitment to the triple lock, the government is legally required to raise pensions by at least average earnings growth.
Aside from pensions, today's jobs market data could also influence the path of interest rates.
Any noticeable shift in the supply-demand dynamic - ie, fewer vacancies and more workers looking for jobs - could push down wage growth.
This, in turn, could ease any lasting pressure on inflation.
Gabriel McKeown, head of macroeconomicsat Sad Rabbit Investments, told industry news wire Newspage: "With inflation fears still simmering, the forthcoming UK labour market data could be the cold water that extinguishes the Bank of England's hawkish fire.
"The latest projections paint a picture of a cooling labour market, as vacancies have fallen for nine consecutive months, while the availability of workers has increased.
"This shift in the supply-demand balance has begun to exert downward pressure on wage inflation, suggesting a trajectory towards target.
"Consequently, Tuesday's labour data is critical for the BoE's monetary policy decisions.
"A September cut seems unlikely, with the Bank's Monetary Policy Committee wanting more evidence of sustained cooling in the labour market and a further moderation in wage growth.
"However, a higher-than-expected unemployment rate or a sharper wage growth decline could tilt the MPC towards a more doveish stance."
Will White Maltesers return to UK shops? We asked Mars...
After the revivalof popular Cadbury's chocolate bar Top Deck earlier this year, we asked you which discontinued treat you would like to see brought back - and we got so many responses that we made a weekly feature of it calledBring It Back.
Over the past eight weeks, we've picked one from our comments box and looked at why it was so beloved and, crucially,found out whether the companies in question might consider reintroducing them. Today's is the last in the series.
This week we turn our attention to a product that was suddenly withdrawn from sale just a decade ago - white chocolate Maltesers.
Round balls of malted milkcovered in chocolate, original Maltesers were launched in 1937 after being created by AmericanForrest Mars Sr.
They were first marketed in the UK as a "lighter" way to enjoy chocolate, and were aimed at "dieting women".
Fast-forward to 2003, and the white chocolate Malteser was launched, before vanishing from shop shelves in 2014 - with Mars reportedly blaming low sales.
Nevertheless, a significant degree of affection clearly remains for the chocolate treats - with a number of readers contacting us to make this clear.
Daicat said: "I would like to see white chocolate Maltesers come back as with many people, I can't eat brown chocolate."
Tim, meanwhile, told Sky News: "There's barely a day goes by I don't think about white Maltesers. They were delicious!
"I'd do anything to get my hands on a bag again."
Indeed, their popularity held up to such an extent that more than 1,600 people signed an online petition started byBailey Raybould.
He said: "White chocolate Maltesers were easily the best chocolate around. But Mars and Maltesers discontinued them. So let's bring them back."
Sky News put this to the manufacturers responsible, who told us they recognised "the enduring love for old favourites" (in a statement that may be familiar to avid Money blog readers, as they actually covered the query along with that of another product previously featured in the Bring it Back series).
A Mars Wrigley UK spokesperson said:"We’re always listening to the fans of our chocolate and fruity treats, which is why we’re constantlyinnovating our ranges. Whilst White Chocolate Maltesers aren't currently on shelves, we're pleased to offer many delicious alternatives such as M&M's, and of course, our original Maltesers.
"We've always got an ear to the ground and recognise the enduring love for old favourites, so stay tuned for some epic comebacks that could be happening soon… Watch this space!"
Missing any of these treats? Click below to find out if they might be making a comeback soon:
Oasis and Ticketmaster urged to refund fans - as law 'may have been broken'
Tickemaster's "in demand" ticket prices for Oasis potentially breached consumer law, the consumer group Which? has warned, as it called on the band and ticketing platform to "do the right thing" and refund fans who paid more.
There has been controversy over the dynamic pricing model used by the site for the band's long-awaited reunion gigs.
Prices - which had been originally advertised as £148.50 - surged as high as £337.50 each. This meant four tickets (the maximum any one person could buy) could cost an eye-watering £1,400, once service and order processing fees were included.
Which? asked Oasis fans to send in screenshots of the ticket buying and checkout process to see if fans were warned that ticket prices could surge due to high levels of demand.
The group received dozens of screenshots from fans who had tried to buy tickets - both before and after prices increased - none of which showed a warning message that Ticketmaster would increase prices during the sale.
Instead, Which? says it saw evidence that fans were shown one price for tickets, only to have that price taken away at the last second and replaced with a far higher, and unexpected, one.
What laws might have been broken?
The Consumer Protection from Unfair Trading Regulations (CPRs) protect consumers from unfair or misleading trading practices. Under the CPRs, when advertising a product, traders must not mislead consumers with how prices are presented or leave out key pricing information that they might need to make an informed decision about their purchase.
The regulations also backlist practices including bait advertising. This is when the trader lures in the consumer with attractive advertising around special prices when the trader knows that it cannot offer that product or only has a few in stock at that price.
Which? believes the "in demand" prices may have breached the CPRs as fans were not informed of the increases until they had tried to add the cheaper tickets to their baskets.
What have Ticketmaster & Oasis said?
Ticketmaster said: "We are committed to cooperating with the CMA and look forward to sharing more facts about the ticket sale with them."
Ignition Management, which manages Oasis, did not respond for comment, but the band said last week when it announced two extra gigs next year that it needed "to be made clear" that the band "leave decisions on ticketing and pricing entirely to their promoters and management, and at no time had any awareness that dynamic pricing was going to be used".
Liam Gallagher has also addressed the chaos over ticketing, saying: "I'm seriously gutted for people that can't get tickets, I can't even go there it hurts my heart and I know people will think I'm taking the piss, but I'm not."
Asda launches new savings account for staff - our savings expert gives her verdict
As Asda fights an equal pay claim from some staff (see 13.01 post), it has announced the launch of a new workplace savings account.
The benefit is exclusively for its 150,000 staff and the company has partnered with Wagestream to offer a 4.7% interest rate.
Colleagues will be able to save in two ways - by either setting a fixed amountto be taken out of their regular pay packet and deposited straight into their savings account or by "rounding up", which will see their shift payments rounded to the nearest whole pound and the difference deposited into their accounts automatically.
There is a monthly limit of £1,000 and a total limit of £85,000.
What do the experts say?
We asked Savings Champion if the benefit was as good as it sounds, and co-founder Anna Bowes told us...
"On the face of it, this is a great initiative and the fact that the funds can be taken on payday will probably encourage more staff to take part. I always recommend that when savers open a regular savings account, they set up a direct debit to take the deposit on or just after payday, so that it makes it feel like an essential bill – but one that they will benefit from in the future."
She said the rate on offer (4.7%) is pretty decent, but those looking to save less than £1,000 may find better rates elsewhere.
"For example, the Principality Building Society is paying 8% AER on deposits of up to £200 a month, although this account has a term of six months only, so would require more intervention and admin, as you'd need to find a new home for the cash on maturity and start another savings account, which may put some people off!
"Anyone who already has or wants to open a current account with First Direct or the Co-op could earn 7% AER on maximum monthly deposits of £300 or £250 respectively. However, on a deposit of £300 a month, that is a difference of just £45.50 in gross annual interest – so not an enormous loss, especially if the Asda initiative actually encourages more people to save!"
Anna said Asda employees might wish to seek more details of how their money is protected before signing up.
Body Shop rescued - with thousands of jobs expected to be saved
The Body Shop has been rescued from administration in a deal that could save more than a thousand jobs.
The beauty retailer has beenacquired by a consortium led by the British cosmetics tycoon Mike Jatania.
It is currently understood there are no immediate plans to shut any of the 113 remaining UK stores.
In a statement, Aurea said the acquisition was its largest transaction to date and it would "steer the Body Shop's revival and reclaim its global leadership in the ethical beauty sector it pioneered".
The Body Shop was founded in 1976 by Dame Anita Roddick. Trading out of a small shop in Brighton, it made its name selling cruelty-free fairtrade products.
But it fell into administration in early February after previous forecasts for how much funding it would need to keep going proved too low. In the weeks that followed, administrators said hundreds of jobs would be lost and dozens ofshopsclosed.
Ministers will not soften blow for pensioners no longer receiving winter fuel payments, Number 10 says
Ministers are not looking to soften the blow for 10 million pensioners who will no longer receive winter fuel payments, the prime minister's spokesman has said.
Ahead of a vote on Tuesday on the controversial decision tolimit winter fuel paymentsto those on pension credit, the government is remaining steadfast despite growing opposition from Labour MPs, unions and charities.
Up until now, all pensioners received the payment to help with higher energy bills over the winter.
Following a cabinet meeting on Monday, Sir Keir Starmer's spokesman was asked if ministers discussed softening the impact for pensioners no longer eligible.
"Not at all," he said.
Read the full story from our politics team here...
20mph roads would see us lower insurance premiums - esure
By Tomos Evans, Wales reporter
The average driver could save £50 per year on their car insurance premium if the 20mph speed limit were to be rolled out across the whole of the UK.
Insurance company esure says it would "proactively reduce policy prices" for its customers within three months of identifying a new 20mph zone.
Earlier this year, the company said it had seen a 20% reduction in car accident claims in Wales.
20mph became the default limit in Wales's built-up areas in September last year but was met with significant opposition.
A record-breaking petition on the Senedd's website calling for the policy to be scrapped was signed by more than 500,000 people.
The Welsh government has since updated its guidance for councils to exempt certain roads from the reduced speed limit, in an effort to get "the right speed on the right road".
In May, it was announced the speed limit on almost 4,000 of Glasgow's streets would be reduced to 20mph.
Transport Secretary Louise Haigh has said traffic speeds in England are "entirely up for local areas to decide".
Many parts of England have already changed the default speed limit on their roads.
Primark losing more money to shoplifters than it spends on business rates
Primark is losing more money to shoplifters than it spends on rates, its chief executive has said.
The company's billionaire boss, George Weston, said shoplifting had become "socially acceptable... with thieves facing no consequences".
Primark pays around £70m a year in business rates for its UK shops, but Mr Weston says the price of losses from theft now eclipses this.
Business rates are a tax on the occupation of a non-domestic property but have been criticised for allowing online retailers to have an advantage over their bricks-and-mortar counterparts.
He welcomed the home secretary's plans to scrap the £200 rule - which allows thieves to be charged with a summary-only offence if they steal goods worth less than £199.
A summary-only offence is less severe and is tried in a magistrates' court, with the court only able to impose a maximum jail term of up to six months (however, the offence is more likely to result in a community order, according to sentencing guidelines).
Primark has already reported that gloomy summer weather knocked sales by 3.1% - but it has also driven higher sales of autumn fashions, including the company's new collection with singer Rita Ora.
Most googled questions on pensions answered
It remains unclear what Labour's first budget next month will mean for pensions - with Chancellor Rachel Reeves refusing to rule out additional taxation.
The lack of detail has created speculation - and so experts at investment bank Saxo have provided us with quick answers to the top 10 most googled questions about pensions...
1. How will I find a lost pension?
If you're looking for a workplace pension, you can contact previous employers and get the information directly from them or many companies offer this service and track them down on your behalf.
The government offers the Pension Tracing Service which, by using your employer's name or your information, can provide you with the details of their workplace pension provider.
2.How much is the state pension?
The current full rate of the UK state pension is £221.20 per week, but this is dependent on how much National Insurance you've paid while working.
To qualify, you'll need to have paid national insurance for 10 full years.
If you're married and both of you have built up 35 qualifying years, this amount doubles to £442.40 a week, or £23,004 a year.
3. When do pensions go up?
The state pension is increased on the first Monday on or after 6 April in line with whatever is highest out of inflation, average wage growth or 2.5%. In April 2024, the annual rise increased by more than 8.5%.
4. How much pension will I receive?
This depends on two main factors - your NI contributions to make sure you receive the full state pension and whether you have a private pension (but there are more factors to consider as well).
This private pension could be a Self-Invested Personal Pension that you've managed, or a workplace pension you and your employer have paid into while working.
Other factors to consider are sector specific pension schemes (teachers' pension, NHS workers, military), how you draw down your pension and the tax implication, and your age.
5.Are pensions subject to inheritance tax?
Usually pensions are exempt from inheritance tax as most schemes are written as trusts, therefore they are valued separately from one's estate and not included in probate calculations - but there are exceptions:
- Continuing guarantee payments may be subject to IHT;
- If a lump sum is paid from a value protected pension, the net of tax amount may be included in the estate;
- If the pension owner died after reaching 75, income tax may be payable.
6. Are pensions tax-free?
It depends on the amount you are withdrawing from your pension, as income from pensions is taxed like any other kind of income. You have a personal allowance (£12,570 for the 2024-25 tax year) which is tax-free.
You then pay 20% tax on income between £12,571 to £50,270 and 40% for any more.
7.How much money can you have in the bank on pension credit?
There is no upper limit on how much money you can have in the bank to receive pension credit, but if you have more than £10,000 in savings and investments, the amount you receive may be reduced.
8. How do I consolidate a pension?
Pension consolidation means combining all (or some) of your pensions into one pot.
If you have several employers over time you are likely going to have workplace pensions in different places. There are advantages and disadvantages to both so it is best to seek advice before combining your pension.
9.How much pension pot do I need for £2,000 per month?
Using a pension calculator, the minimum amount required would be £272,000 for a £24,000 annual drawdown.
However, this doesn't include a lump sum and other factors that will be personal for you. Speak to a professional to receive tailored advice for you.
10. Will Labour tax pensions?
Pensions are already subject to tax. Regardless of how you withdraw your pension, 25% of your total pension pot will be tax-free and you'll pay tax on the rest as if it were income.