Energy debt and Pension Withdrawals
This week, the energy watchdog Ofgem released data showing energy debts reached £2.6 billion between April and June. It says the rise in debt was due to both the increase in wholesale energy prices and wider cost of living pressures. We'll get reaction to that figure from Octopus Energy, one of the UK's biggest suppliers.More and more people are taking money out of their private pensions. Between April and June, 4 billion pounds was withdrawn from pensions by more than 500,000 people - 15% more than a year ago. What should you consider before you take money out of your pension? And, two weeks before the deadline to get your paper tax return in, HMRC says it will take three weeks to post the form to you. What are your options if you still need to send one?Presenter: Paul Lewis Reporter: Dan Whitworth Researchers: Sandra Hardial and Jo Krasner Editor: Jess Quayle(First broadcast, 12pm Saturday 14th October, 2023)