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Page last updated at 16:56 GMT, Friday, 13 July 2012 17:56 UK

Planned cap on spending in old age

Elderly person getting help walking
BBC Radio 4's Money Box
Saturday, 14th July 2012 at 1204 BST On Radio 4 and Online

The Government said this week that it would set a cap on the total amount any individual had to pay for their care in old age.

But a lot of key details were omitted, including what that cap should be or when it would begin.

It did say that a new universal deferred payment scheme would begin from April 2015.

But how new was that idea? We hear from Lisa Morgan, a partner at Hugh James solicitors. We also talk to Dot Gibson, General Secretary of the National Pensioners Forum and Gus Hanton, Co-Founder of the Intergenerational Foundation about who should pick up the cost of care.

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Farepak payout

More than 100,000 victims of the collapse of the Farepak Christmas club in 2006 will get a total of 50p for every pound they lost. And the money will be paid by this Christmas.

They have already had 17.5p and another 32p is now due to be paid after LloydsTSB agreed to put £8 million into the fund following criticism form a judge in a court case.

But how much are the administrators/liquidators getting? We speak to Louise McDaid who lost money in the Farepak collapse and Mike Dailly from the Govan Law Centre.

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Flood insurance

The Government is trying to persuade the insurance industry to make sure all homes can get flood insurance - even those at high risk.

A deal between the insurance industry and the Government to make sure everyone can at least get insurance at some price runs out in June 2013. How will that affect the premiums we all pay in future? Mary Dhonau the Chief Executive of 'Know Your Flood Risk' campaign says it could get much harder for people to find insurance.

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RBS compensation

Royal Bank of Scotland announced more details this week of the compensation it would pay to people who had lost money following the major computer failure that began on 20 June.

RBS and NatWest are now said to be back to normal. But Ulster Bank customers are still struggling. Susan Allen from RBS group outlines what kinds of things they are compensating customers for.

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BBC Radio 4's Money Box is broadcast on Saturday at 1204 BST.

Money Box



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