The latest market updates are brought to you by Investment Managers & Analysts at Wealth at Work Limited which is a member of the Wealth at Work group of companies.
The issue of lost pensions in the UK is escalating rapidly. Research reveals that the total value of unclaimed pension pots has surged from £19.4 billion in 2018 to £31.1 billion in 2024. Currently, there are 3.3 million pension pots classified as lost.
The UK pensions landscape is entering a period of major reform, with new legislation and regulatory initiatives aimed at improving outcomes for savers.
UK inflation held steady at 3.8% in September, marking the third consecutive month at that level and delivering a welcome upside surprise for both markets and consumers. The breakdown showed food inflation easing further and price pressures moderating in recreational categories.
This week, headlines shouted loudly that the UK’s unemployment rate hit its highest level in four years, having ticked up to 4.8% in the three months to August.
Across the Eurozone, retail activity showed only marginal improvement in August, inching up by 0.1% - a weaker outcome than most economists had predicted. Year-on-year, sales were 1% higher, pointing to a modest degree of resilience in consumer spending.