Pensions - Articles - What an end to rate rises could mean for pensions

 “If that’s the case, the market volatility of the past few months could settle, benefiting pension savers who depend on investment performance to boost their pots.

 “For those approaching or in retirement who have found managing their retirement and withdrawal plans stressful because of market ups and downs, this potential change in monetary policy direction might offer some respite.

 “For people with retirement money tied up in savings, it will be important to keep chasing decent rates, as high-paying accounts may not hang around for long.

 “Meanwhile retirees who are weighing up whether an annuity is the best way for them to take an income might want to consider that annuity rates may not be as attractive as they are now, in a year’s time.

 “Households with mortgages might now be able to look to a future remortgage date with a little less dread, if mortgage rates continue to respond to expectations that the base rate has no further to rise and may indeed start falling. This may allow people trying to build up their retirement savings alongside other financial commitments a renewed opportunity to divert more disposable income to long term savings, helping to restore financial resilience during a difficult period for those with debt.”