DEAR TRICIA

Need some practical financial advice? YOUR MONEY Editor Tricia Phillips and her team can help

Q I am a 65-year-old woman confused and angry regarding my state pension. With the age going up again, will I now have to wait until I’m 66 to get mine? A

The constant tweaking and age changes are making it impossible for people to plan properly. And it’s unfair, as phased-in age rises mean that you may have to wait months longer than someone even born in the same month as you, depending on your date of birth. Currently those born in 1954 will reach state pension age between the age of 65 and 66. Someone born between January 6 and February 5, 1954, will reach state pension age on May 6 this year, while being born between February 6 and March 5, 1954, means not getting the state pension until July 6 this year.

Q I’ve had lots of problems with my energy supplier and my bills. They kept changing my direct debit level and I’ve ended up in a little debt. Can I switch supplier when I owe them money? A If you’ve been in debt to your supplier for over 28 days, you’ll need to repay that first. However, if it’s your supplier’s fault you’re in debt, I believe they can’t stop you from switching. Q I’ve been getting lots of calls offering me ISAs and other investment reviews. I thought cold-calling was now banned? A

In general, cold calling is still legal. But this month a pensions cold-calling ban came into force. However, crooks will now use other

financial products and services as a way to try to lure you out of your savings. So put the phone down on any cold calls.

Q

I think there is a Child Trust Fund account somewhere for my child. How can I find out where it is and can I contribute to it?

A

Go online to gov.uk and put Child Trust Fund into the search. You will be led through the process of tracking down the provider. You can contribute up to £4,260 per year into a CTF, although transferring the funds into a Child ISA will give you better rates of interest.

Q

I have an overdraft I’m struggling to repay and it’s costing me a lot in interest and charges. I’m thinking of putting it onto a new 0% credit card deal or my existing card. What’s best?

A

The best way to clear an overdraft is a 0% money transfer credit card as you can move funds into your bank account via one of these. Using cash from your existing card will incur high charges unless the firm is offering a 0% deal – also you risk ending up in a financial muddle if you were to use the card firm for two different purposes.