Articles in "Financial Planning"

The Bank of England has raised the base rate of interest by 0.75%, to 3% - the single biggest hike in 33 years, and have said that the UK is already in recession.

National Pension Tracing Day, 30th October 2022.

National Savings and Investments (NS&I) have announced that from 1 October 2022 there will be millions of pounds added to Premium Bond prizes. NS&I will increase the prize fund rate from 1.40% to 2.20%, adding an expected £76million to the prize fund.

We are seeing a lot of negative headlines regarding the financial markets, and it is natural to worry about your investments; however, history tells us that it is better to stay invested during these times, and not to sell out.

Cash savers are quietly celebrating, as a ‘rates war’ has broken out in the savings market - meaning savers are now getting a much better return on their money than what they were a year ago.

For most, the State Pension forms the foundation of their retirement planning.

Interest rates in the UK are on an upwards trajectory with the latest 0.50% increase culminating in a current base rate of 1.75%.

Last week, the Bank of England raised interest rates by 0.50% to 1.75%, the biggest hike in 27 years, as it tries to battle rising inflation.