UK Money News
26th June 2008
Inflation could cut worth of pensions savings
Soaring inflation is at risk of eroding the value of Britons' retirement savings, it has been claimed.
According to the FundsNetwork the recent warning from the Bank of England that inflation is set to exceed per cent this year has significant implications for pensioners well being in future.
This is because savers' contributions to such schemes are fixed at a flat rate, the company warned.
David Dalton-Brown, head of Fidelity FundsNetwork, says: "We haven't really had to worry too much about inflation over the past decade. However, rising fuel and food prices are pushing up inflation around the world.
"With CPI [the consumer price index] in the UK forecast to top four per cent, there is a real danger that many retirement plans will go off track if regular contributions are not increased."
The firm calculates that if inflation continues at a rate of four per cent, it would cut the real value of £1,000 to £456 in 20 years.
back to June's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
