A poll of around 1,000 adults earlier this month has found most are ignorant of the effects of retail price index inflation or tax on savings, according to National Savings & Investments.
Additionally, the situation has barely changed since a similar survey was carried out at the same time last year. Two-thirds (64%) of respondents say they do not take inflation into account when saving assets, despite RPI inflation running at 3.5% currently, NS&I, a government executive agency, says. That is little changed from the 66% rate recorded last year. More than half of respondents (58%) in both years have answered they do not take tax into account when looking for a place to park their hard earned disposable income. This research is being linked to a push by the executi...
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