The sorry story of saving is well rehearsed by now: an ageing population working longer for less, high inflation and low interest conspiring to depreciate savings. Meanwhile the economy depends on personal debt to keep it liquid.
The message from the government is contradictory: spend to get the economy moving, but remember to save some for retirement.
Post-crash measures are focused on low base rates and Help to Buy schemes designed to stimulate in the short-term, but what about the long?
Pensions and the crash
If there are two things people save for, they are pensions and property. The property market is on the upswing again, and the government seems determined to keep it that way. Pensions are another matter. Continue reading