Navigating uncertainty

With households experiencing a financial squeeze due to the rising cost of living, many of us are worried about what’s ahead and how inflation will affect us financially in the future, as well as now. In fact, 29% of people say the impact of rising inflation has caused them ‘a lot’ of stress and 31% say they have spent more than they can afford in the past six months1 (data collected in July 2023). We’ve put together four videos to help you understand your options and navigate your finances.

Remember, in addition to what you contribute into your pension you could benefit from:

• your employer paying into your pension. Every time you contribute, your employer does too, which helps you save more in the long run.
• tax relief on your contributions. Your retirement savings get boosted by money that would otherwise go to HMRC.
• compound growth. Any money you make from investing your pension is then reinvested along with any additional contributions. All these things mean saving regularly, even if it’s small amounts, gives you the best chance of growing your pension. But do remember, any growth is not guaranteed, and the value of your pension investments can go down as well as up.

Source:
¹ The Fidelity Global Sentiment Survey, 2023. The data collection, research and analysis was completed in partnership with Opinium, a strategic insight agency. Data collection took place in July 2023 and included a sample of 1000 UK adults.