Inflation over 10 per cent, rising interest rates and the prospect of soaring energy bills in October are already taking their toll on household finances.
But for those relying on income generated from pension investments, the bleak economic outlook spells volatility in the stock market and the risk that companies conserve cash and cut or scrap dividends altogether.
With the cost of living rising at pace, pensioners drawing down retirement savings look set to feel the squeeze from both sides as incomes fall and inflation erodes what little spending power they have left.
STM Group plc (LON:STM) is a multi-jurisdictional financial services group listed on the Alternative Investment Market of the London Stock Exchange. The Group was formed as a strategic investment company specifically to build a leading financial services group originally operating in the international corporate and trustee service provider (CTSPs) sector.