How inflation is affecting pension savings

Our self-invested pensions technical specialist James Jones-Tinsley recently appeared on FT Adviser’s podcast to discuss the impact rising inflation rates has on pension savings.

Joining host Amy Austin and Tim Morris, Russell & Co's independent financial adviser, James examines the ramifications of inflation rising above 9%, a 40-year record high.

In the immediate future, pensioners will be feeling the economic squeeze thanks to their state pension not matching the rise in inflation, after only increasing by 3.1% over the past year. The panel also discuss the uncertainty surrounding the future of state pension increases – a proposed return to the ‘triple-lock’ could see double digit increases to the state pension, but that would seem to contradict with government promises of increased fiscal responsibility.

Given the current atmosphere of economic uncertainty, James and the panel also discuss what those looking to increase their pension funds through investment could look to do in the months ahead.