The three groups that will be hit by the new inflation high

Inflation. It is enough to fill anybody with dread. Money only stretches so far, and it is even harder to stretch a pound when it is only worth 97.7 pence. Well, that is the reality after inflation was recently announced to have exceeded the Bank of England’s 2% target to a level of 2.3%. The Office for National Statistics released a bulletin on the 21st of March, revealing inflation to be much higher than previously thought. This news has come as a surprise to many, and will affect three groups of ...

Have you chosen the right way to save for retirement?

Have you chosen the right way to save for retirement?With the State Pension currently worth a maximum of £155.65 a week, making additional provision for your retirement is essential if you want the financial freedom to enjoy your later years. Saving for retirement doesn’t need to be complicated, although it’s always helpful to pose some key questions, for example: How much will you to need to live on? How long do you have to save for retirement? When do you want to retire? How will inflation affect you? Will you qualify ...

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 ...