Pension funds hit by downturn

Fri, 20 Feb 2009

The value of defined contribution pension schemes has slumped by a third, according to a report in the pensions news today. According to consultant Aon, defined contribution pension assets have collapsed by 35 per cent.

Aon provide a DC pension tracker that analyses the market and predicts pension returns for people of different retirement ages. As many as 3.7 million workers contribute monthly to a defined benefits pension scheme .

Principal at Aon Consulting, Helen Dowsey, reportedly commented: "Over the last year, DC pension scheme savers have been hit hard by the falls in equity markets, and people need to take an active role in reviewing their pensions . For some workers, not making active investment decisions could mean they lose out on up to a third of the value of their pension ."
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