According to many financial advisers, UK consumers are panicking about their pension situation. The influence of heavy recent falls in the stock market are apparently driving consumers to question whether their pension schemes remain intact, and whether their retirement horizon is still level.
Some pension holders are looking for a scheme switch, from equities and into cash. Some experts have gone on record saying that this type of panic will be short-lived, despite an intense period for the stock market. They argue that pensions are a 30-year investment, and a bad three weeks doesn’t make much difference.
Most pension funds are down, but when this is placed in the context of continual fund increases in the previous few years, the declines are relatively small. The changes in the pensions market have partly come about due to the collapse in the sub prime mortgage lending market in America. Many experts believe this spell will pass, and investment in equities remains the best way for pensions to generate income.
Pension panic too early
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Pension panic too early
Wed, 29 Aug 2007
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