Falling stock market slams pensions

Fri, 10 Oct 2008

According to reports in the pensions news, dropping share prices throughout the stock market could mean those approaching pension age see their pension scheme fall in value at the last minutes.

For those people soon to retire, pension fund cash could be all important. Falls in share prices relating to equities means many will receive less than they expected. For those with occupational pension schemes and personal pension plans, heavy losses could be sustained.

However, even those individuals in final salary pension schemes, thought to be around 8.5 million in the UK, could see the value of their scheme failing. Pensions experts advise either selling shares and putting money into cash, cutting the losses, or holding on for a recovery and hoping that by retirement share values will have risen.
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