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Olympic ticket problems continue

Olympic stadium
BBC Radio 4's Money Box
Saturday, 04 June 2011 at 1204 BST On Radio 4 and Online

By now most of you who applied for Olympics tickets will know whether you have been successful or not. Stories coming out over the past week have focused on the lucky, and not so lucky.

Tim Fuell, from London, got the only tickets he bid for - four seats for the 100m final - despite one million applications for tickets for that event. One Money Box listener was not so lucky - Stuart, from Hitchin, bid for 37 sets of tickets at a maximum cost of £6,100. He ended up with one pair of tickets for trampolining.

But some people are still in limbo - through no fault of their own. As we have mentioned over the last couple of weeks, problems with the banks, VISA and the London Olympics ticket helpline are causing misery for some.

Chris Townsend, LOCOG director with responsibility for ticketing, talks to Paul Lewis.

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Buyer beware

If a 17-year-old enters into a contract to buy goods online using a debit card, is that contract binding?

Paul Lewis speaks to Monica Jaimini from Which? Legal Services.

(Hint: the answer is neither 'yes' nor 'no').

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Unreasonable rate of return?

If you want to take no risk with the money you are saving up for a pension, you might be attracted to a fund called a deposit fund - imagining that it would grow at least like money in a savings account.

That is what Money Box listener Susanne Groom thought. She had about £40,000 to put into a pension fund which she hoped to use for her retirement fairly soon.

Her advisor guided her to the Aviva Deposit fund, saying it was one with which she would not make a fortune, but would not see her money fall in value. Then she got a statement...

We reveal how much interest she got on her investment in the programme.

We also hear from Malcolm McLean, of the pensions consultancy, Barnett Waddingham.

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Is calculating risk as simple as ABC?

The Investment Management Association (IMA) has decided to reclassify funds operated by its members - in a bid to make it clearer what levels of risk investors are taking on.

Some Money Box listeners contacted the programme after seeing big falls in their funds after stock market volatility. Many thought that as the fund they had invested in was classified as 'cautious', it meant 'cautious', with less exposure to equities. But that was not the case.

So now, the IMA is going to name Aggressive, Balanced, and Cautious funds, simply A, B, and C. It will also create a less risky fund, D.

So will this really make a difference?

Richard Saunders, chief executive, Investment Management Association and Mark Dampier, head of Research, Hargreaves Lansdowne, debate the issue.

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BBC Radio 4's Money Box is broadcast on Saturday at 1204 BST and repeated on Sunday at 2102 BST.

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