Cashpoints: Compulsory retirement at 65 to be phased out

This week's top stories • People will be encouraged to work longer under government plans to phase out the so-called default retirement age of 65 by October 2011. Currently employers can make staff retire at 65 regardless of their circumstances, but ministers signalled that this was set to change as people were living longer, healthier lives. • "The British banking revolution begins today," claimed Metro Bank. But many experts were underwhelmed by its first set of products and the lack of introductory offers. "The rates generally aren't going to trouble any best-buy tables ," said David Black at financial research firm Defaqto. • House prices fell in July for the first time since February , reducing the average price of a UK property to £169,347 from £170,111 last month, according to latest figures from the Nationwide building society. • Do you have any feedback on any of these issues that you want to get off your chest? Email us at [email protected] Feature Switching tariff: how to reduce your energy bills Householders may not have enjoyed the cold winter, but British Gas certainly did. It has announced a 98% rise in first-year profits following an 8% increase in gas use and, more ominously for householders, appeared to suggest that utility bills could be on their way up this winter. So what should you do – if anything? Read the article in full here Ask the experts: Homebuying Question of the week: "I have inherited a 50% share of my mother's house. If I sell this portion to my sibling will I get taxed?" Our homebuying expert Virginia Wallis says: "As your late mother's estate is valued at less than the £325,000 nil-rate band, you don't need to worry about inheritance tax. But if you sell your share – whether to your sibling or anyone else – there may be a capital gains tax …" Read the answer in full here • Any questions? Email our panel of experts on financial concerns, consumer gripes, legal wrangles, debt worries and career-related problems at [email protected] Tools Compare broadband deals Search online or call for advice on the best broadband internet package for your needs