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Viewing entries tagged with 'pension retirement'

CPI inflation hits 40-year high of 9%

Posted by MMB Finance Swindon and Gloucester on 18 May 2022

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CPI inflation rose by 9.0% in the 12 months to April, up from 7.0% in March, according to the latest ONS data. On a monthly basis, CPI rose by 2.5% in April 2022, compared with a rise of 0.6% in April 2021. April's increase is the biggest monthly jump on record and inflation is now at a 40-year high. CPIH inflation, which includes owner occupiers' housing costs, rose by 7.8% in the 12 months to April 2022, up from 6.2% in March.

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Retirees set for 8% state pension rise in 2023 as Government commits to triple lock

Posted by MMB Finance Swindon and Gloucester on 23 March 2022

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Work and Pensions Secretary Therese Coffey confirmed that the Government remains committed to the state pension triple lock for the rest of this Parliament. This comes after the Government temporarily moved to a ‘double lock’ of the higher of price inflation or 2.5%, excluding earnings inflation from the April 2022 increase, because of pandemic related distortions in national average earnings.

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Multiple rate rises predicted as inflation surges to 30-year high

Posted by MMB Finance Swindon and Gloucester on 20 January 2022

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On a monthly basis, CPI increased by 0.5% in December. CPIH inflation, which includes owner occupiers’ housing costs, rose by 4.8% over the year. Household services, which include gas and electricity, as well as petrol, were among the biggest contributors to the rise. Economists now predict that "multiple interest rate rises" may be necessary in the year ahead.

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50/30/20 rule in 2022

Posted by MMB Finance Swindon and Gloucester on 27 December 2021

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The popular 50/30/20 rule might help individuals in getting their finances on track for the New Year. Put simply, this rule is designed to help people manage their money in an effective way that should stand the test of time. The basic rule is to divide one's monthly income, after taxes, into three main spending categories which represent percentages.

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Government considers raising state pension age

Posted by MMB Finance Swindon and Gloucester on 15 December 2021

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The Government has launched a review of the state pension age and will consider bringing forward the rise in the age at which people become eligible for the state pension to 68, from the current entitlement age of 66, to 2037-39. 

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