SIPPs: Where now for SIPP deposit accounts?

Crumpled question marks heapPeople using deposit accounts in their Self-Invested Personal Pension (SIPP) have had it tough for a number of years. Interest rates, which were already at record low levels following the financial crisis, fell even further when the Funding for Lending scheme was introduced, some banks and building societies have withdrawn their accounts and for much of the last few years inflation has been higher than interest rates. But SIPP deposit account savers are nothing if not a patient bunch. In our ...

Retirement: Cameron vows to protect the State Pension triple lock

OLYMPUS DIGITAL CAMERADavid Cameron has vowed to protect the value of the State Pension if he returns to power after the general election in May 2015. The so-called ‘triple lock’, introduced by the coalition government, guarantees that the State Pension will rise each year in line with earnings, inflation, measured by the Consumer Prices Index (CPI) or 2.5%, whichever is higher. Speaking on Sunday Mr Cameron has promised to keep the ‘triple lock’ in place until at least 2020 if he is ...

Savings: Is the price to beat inflation worth paying?

iStock_000007329749XSmallEven though inflation has started to fall, the clamour for savings accounts which beat inflation has never been stronger. But whilst it’s important to beat inflation, is this the only thing savers should be taking into consideration when selecting a savings account? Why is it important to beat inflation? Simply put, if your savings don’t grow by an amount equal to inflation, the buying power will be reduced and you will lose money in real terms. To put it another way. If at ...

Savings: A new account to beat inflation

Leeds Building SocietySavers struggling to find a real, above inflation return, will welcome the launch of two new accounts from the Leeds Building Society. Inflation, as measured by the Consumer Prices Index (CPI), currently stands at 2.80%; savers who receive interest, after tax, of less than this figure, will see the real value of their savings shrink. Since the financial crisis savers have been hit by low interest rates, but the situation has been made worse by relatively high inflation and cuts to savings ...