|Investment Property Worldwide.com||
Employers are not doing enough to protect their pension investments, with staff in defined-contribution schemes now expected to be 25 per cent worse off in retirement, according to pension provider Xafinity.
The research, published on Monday, said ‘poorly designed investments strategies’ have resulted in many defined contribution, or personal pension, funds losing a quarter of their value in just seven weeks.
Global equity volatility has impacted on members’ pots, while at the same time; at least ten annuity providers have reduced their rates by 2 per cent, after they factored in falls in gilt yields – the assets that back annuity payments.
Together, these two factors mean that savers have seen their projected retirement income fall dramatically.
Author - Lucy Warwick-Ching - FT.com to see the full article follow the link below
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