Samuel saves pence for tinned meat (4)
I believe the answer is:
spam
'for tinned meat' is the definition.
(tinned meat product)
'samuel saves pence' is the wordplay.
'samuel' becomes 'sam' (I can't explain this - if you can you should give a lot more credence to this answer).
'saves' means one lot of letters goes inside another.
'pence' becomes 'p'.
'sam' going around 'p' is 'SPAM'.
Can you help me to learn more?
(Other definitions for spam that I've seen before include "Tinned meat - unwanted email" , "Thoughtlessly send" , "Unwanted e-mails" , "(Send) junk mail" , "Uninvited email" .)