Will pensions collapse?

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Will pensions collapse?

Fri, 28 Mar 2008

According to recent reports in the pensions news, thousands of people in the UK are worrying about how to fund their retirement . Many British people entering old age are now being forced to endure poor returns on pension investments, and inadequate state contributions.

The global credit crunch has affected numerous UK financial markets, and it appears that pensions have been no less affected. With interest rates high and the stock market damaged, the value of UK company pension schemes has slumped.

The UK is also facing a massive pensions deficit, despite attempts to reduce their exposure. Some remain very exposed to the credit crunch and the turmoil affecting UK markets.

A recent Morgan Stanley list revealed those companies most at risk from the credit crunch, with the company pensions (and the retirement prospects of their employees) very much dependant on the near future of the markets. The list include established UK companies such as British Airways and BT.

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Women embracing pension accounts - Mon, 12 May 2008
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