Welcome to our latest edition. This issue was written prior to the Chancellor of the Exchequer, Rishi Sunak, presenting the second UK Budget of 2021 on Wednesday 27 October. We will look at the key announcements included in the Chancellor’s red box in the next issue.
Inside, ‘How can I protect my money from inflation?’ is a question that many people may be asking themselves right now. In the current economic climate, rising inflation is becoming a concern for people with savings and investments. The effect means you’re potentially earning less money due to your hard-earned cash becoming worthless as time goes by. The negative impact of inflation upon the real value of an investor’s portfolio will be a concern, particularly for the older generation with not enough investments, who may live mostly or entirely o! their savings and pensions. On page 06 we consider five questions you should ask yourself before inflation takes off.
The Department for Work and Pensions (DWP) underpaid 134,000 pensioners in State Pension to the tune of £1 billion, according to the National Audit Once (NAO). Complex State Pension rules, outdated and unautomated IT systems, and a high degree of manual review and understanding required by caseworkers led to the errors uncovered by the investigation.