About this episode
The episode discusses delays in teacher pensions and the impact of rising mortgage rates on the housing market and savers.
The National Union of Headteachers says the government "must step in" to help teachers in England and Wales who have retired but are facing long delays before their pension is paid. The Teachers' Pension Scheme is one of the biggest in the country with two million members. The Department for Education which has overall responsibility for the scheme says it’s working closely with Capita who administrate the pensions to monitor performance and address any emerging issues. Capita has apologised and says it's working closely with the government to ensure cases are progressed correctly and in line with scheme rules. In the last month average two year fixed mortgage rates have jumped from around 4.8% to 5.9% and there are around 1 in 6 fewer mortgages deals available to house buyers and people whose fixed mortgages are running out. How is that affecting the housing market? Mortgage rates going up is bad news but when interest rates rise savers, who far outnumber people with mortgages, many see it as better news. What are the best offers out there? And what does the lifting of the two-child benefit cap mean for families? Presenter: Paul Lewis Reporters: Hannah Mullane and Jo Krasner…
People in this episode
Host: Paul Lewis
Guests: Hannah Mullane, Jo Krasner
Topics covered
- teacher pensions
- mortgage rates
- housing market
- savings
- two-child benefit cap
Keywords
- teacher pensions
- mortgage rates
- savings rates
- housing market
- two-child benefit cap
Mentioned in this episode
Organizations: National Union of Headteachers, Department for Education, Capita
Places: England, Wales
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