personal finance

Podcast: State pension records, the debt trap and inheritance tax reforms


Are there missing years in your state pension records? It’s now easy to go online and check how many years of national insurance contributions you have clocked up — but many readers have been shocked to discover “missing years” in their records.

On the latest episode of the FT Money Show the FT’s pensions correspondent Josephine Cumbo discusses the issues with presenter Claer Barrett. “I’ve heard from several readers who have told me that they couldn’t trace the employer but they were sure their national insurance was paid by them, but HMRC is disputing it,” says Ms Cumbo.

Next, we talk to a non-profit group behind End the Debt Trap about Britain’s rising debt problems. Sarah Jane Clifton joins us in the studio to tell us why the cap on payday loans should be extended to other forms of high-cost credit such as credit cards. She says: “We define the debt trap as when levels of debt are both persistent and severe. If household debt repayments are relatively high compared to their level of income then we classify this as severe, and then persistent is if they are going to take a very long time to repay all of their debt — both the interest and the principal”.

Finally, long-awaited proposals to simplify inheritance tax have been announced and FT Money reporter Emma Agyemang reveals what could change, how families stand to be affected — and if it will ever happen.

The FT Money Show podcast is released at 6am on Thursday, in time for your morning commute. To subscribe and download, go to Apple Podcasts, Stitcher or your usual podcast provider and search for “FT Money Show”.



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