5 questions to ask before inflation really takes off

Welcome to the November/December 2021 edition of Smart Money.

This issue was written prior to the Chancellor of the Exchequer, Rishi Sunak, presenting the second UK Budget of 2021. We will look at the key announcements included in the Chancellor’s red box in the next issue.

In this edition’s feature, we discuss what a rise in inflation could mean for your investments and outline 5 questions you should ask yourself before inflation takes off (page 4). On (page 3), we take a look at the changes to the state pension triple lock for the 2022/23 tax year, and how some UK pensions have had their state pension underpaid (page 6). Making financial plans for the future is a vital, but sometimes overlooked area. We consider the areas that can create challenges for retirement planning – from a spouse’s retirement arrangements remaining unknown (page 8), the risks of an unexpected early retirement (page 10) and the planned rise in the Normal Minimum Pension Age from 55 to 57 years (page 12) – as well as 8 steps to creating a comprehensive financial plan for your short, medium and long-term goals.