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NewsThe way annuities are sold is costing half a million retirees each year as much as £1bn in future pension income, the National Association of Pension Funds says. Just over one million taxpayers face a penalty of £100 for failing to submit their self-assessment tax returns on time, HM Revenue and Customs says. Fewer people were declared insolvent in 2011 in England and Wales than in 2010, but the number of companies going bust increased. The sale and rent back industry has been almost completely closed down, says the Financial Services Authority. Action has been taken against mobility aids traders following a warning from the regulator over sales of the products. Criminal hackers have found ways around new security devices used for online banking, the BBC has learned. MPs overturn a series of defeats inflicted on the government's welfare reform bill by peers, voting to reinstate child benefit into the proposed £26,000 total cap on payments. Some 300 travellers with insurance claims resulting from the ash cloud disruption in May 2010 will finally have their cases resolved. UK house prices started the new year with a slight decline - falling by 0.2% in January compared with the previous month, the Nationwide says. The argument for the chancellor to cut taxes to boost the economy is stronger than it was a year ago, the Institute for Fiscal Studies says. The proportion of final-salary pension schemes still open to new recruits in the private sector fell last year from 18% to just 16%, figures show. The government has given up its plans to reduce the frequency of MOT tests. Gym membership contracts are to be put under the spotlight by the fair trading regulator, following customer complaints. Britons are richer and more stressed than when the Queen came to the throne, a report by the Chartered Institute of Personnel and Development has found. Sainsbury's is renaming its tiger bread after a letter a three-year-old girl wrote to the company, saying the bread looked more like a giraffe, went viral. The Association of British Insurers estimates that up to 200,000 flood-prone homes could face insurance problems next year. Brokers are telling new borrowers to expect mortgage rates to see-saw in the coming months, owing to economic uncertainty. House prices in England and Wales fell by 1.3% last year, to an average of £160,000, according to figures from the Land Registry. The government's latest public sector pension changes will make "little or no difference" to their long-term cost, a think tank says. Full implementation of a scheme to automatically enrol workers into a pension scheme will be in place three years later than first planned. The ATL teachers' union backs the government's revised deal on pensions in a ballot. The government savings body, National Savings & Investments, cuts the interest rate on its main savings account, the Direct Saver, to 1.5%. New rules come into force which will free up credit unions in the UK to compete more effectively with banks. More than £1bn has now been paid in compensation this year to people who were mis-sold payment protection insurance (PPI), figures show. Graduate pay will rise by 4% this year - the first increase since 2009, the Association of Graduate Recruiters has estimated. Labour leader Ed Miliband defends his party's decision to support the government's pay freeze for public sector workers, despite union criticism. Full-time employees in the UK work longer hours than the European Union average, according to the Office for National Statistics data. In this week's Your Money, Declan Curry looks problems with pensions, considers the benefits of credit unions and gets some top tips on how to manage your money. Spencer Kelly talks to Winifred Robinson on Radio 4's You and Yours about the results of the BBC Click investigation into the new ways criminals are trying to hack into bank accounts. Dr John Philpott, chief economic adviser at the CIPD, and Professor Harriet Bradley, sociologist at Bristol University, discuss how working life has changed over the last 60 years. In this week's Your Money, Declan Curry asks is it cheaper to buy or rent and gets advice on how to make your savings work harder - if interest rates stay low. Complaints to an ombudsman about motor insurance rose by 29 per cent last year - with key gripes including valuations of written-off vehicles. The head of consultancy at Employment Law Advisory Services told Radio 5 live how government proposals will change tribunals. A consumer expert answers readers' questions about debts When working in a new country can prove unlucky Credit unions hope a new law will boost membership numbers The timetable for the auto-enrolment into a pension The benefit family on £30,000+ a year A BBC panel of business experts answer readers' questions. Union leaders plan next step in Unilever pension battle |