Market volatility could knock up to 11% off some pensions

Workers set to retire this month could see as much as 11 per cent knocked off their annual pension due to the recent stock market turmoil, according to a leading pensions expert.

1st September, 2007

Workers set to retire this month could see as much as 11 per cent knocked off their annual pension due to the recent stock market turmoil, according to a leading pensions expert.

The worst blows will be felt by those approaching retirement who have a defined contribution pension scheme that is heavily invested in equities or high-risk funds.

With defined contribution schemes, the value of a pension depends on how much a worker and employer contributes...

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