Martin Aitken & Co Ltd News & Developments

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An unexpected first quarter

Despite the numerous shocks that occurred in the first quarter of 2022, the world’s share markets held up surprisingly well.

Cast your mind back to the start of the year. The world was coming to terms with the latest Omicron variant of Covid, which was supposedly proving less serious than its predecessors. The latest available UK inflation figure (for November 2021) was 5.1% and the Bank of England had delivered an early Christmas present of a 0.15% rise in interest rates to 0.25%. Across the Atlantic, US inflation was higher at 6.8%, but the US central bank, the Federal Reserve, had delayed its first increase in interest rates. Investment markets had enjoyed a generally good 2021, particularly in the US, and while interest rate rises were expected in 2022, the post-pandemic investment outlook was reasonably sunny.

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Protecting the normal minimum pension age

The normal minimum pension age (NMPA) will increase from 55 to 57 on 6th April 2028, although a protected pension age regime will be introduced.

This will allow those who meet the rules to take benefits based on their existing normal minimum pension age.

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