How will the unexpected rise in inflation affect you?

How will the unexpected rise in inflation affect you?New figures show that UK inflation is now at its highest rate since November 2014. The data, from the Office for National Statistics (ONS), shows that the Consumer Prices Index (CPI) rose to 1.6% in December, up sharply from 1.2% in November. The Retail Prices Index (RPI), which includes housing costs, rose from 2.2% to 2.5%. Rising air fares and food prices contributed to the unexpectedly sharp rise, as the effects of the falling pound start to be felt. Reacting to the figures, Mike Prestwood ...

Are you heading for a ‘Toblerone Retirement’?

Are you heading for a ‘Toblerone Retirement’?New research has shone a light on our changing retirement habits, as we struggle with the twin effects of inflation and ‘skrinkflation’. Figures from pension provider, Retirement Advantage, show that: The days of the ‘cliff edge’ retirement, where one day we worked, and the next we didn’t, are long gone for many, with 52% of people age over 50 planning to work part-time in retirement That’s an 11% increase over recent years 30% of people are worried about the cost of living in retirement, whilst ...

Is deflation good or bad for your money?

Is deflation good or bad for your money?For the first time since Harold Macmillan was Prime Minister Inflation, as measured by the Consumer Prices Index (CPI), turned negative last month. But what does it mean for your savings, pensions and investments, we have the answers. But, first things first though, exactly what has happened? To put is simply, the CPI (usually) measures that rate at which prices are rising. It does this by comparing a ‘basket’ of goods and services from one month to the next and reporting the change. For the first ...

Retirement: Discover the number one fear of pensioners and our six top tips to deal with it

Discover the number one fear of pensioners and six top tips to deal with itWhat’s the number one fear for people in retirement? Keeping fit? Staying healthy? Losing your partner? No, it’s inflation and the rising cost of living. A recent survey by MGM Advantage has found that for 53% of people the rising cost of living is their biggest single fear in retirement. So what can you do to help reduce the effects of inflation? Here are our six top tips: Tip #1: Consider an inflation linked Annuity Despite the changes ...