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Pensions and Isas hit by market turmoil
The pension income bought from retirement savings has fallen by 14% compared with the start of the year owing to market turmoil, experts say. The effect of falling share prices and annuity rates means that a 65-year-old's £100,000 pension pot would buy a retirement income that was £926 lower.The figure, from Hargreaves Lansdown, shows the effect of market turmoil on those with personal pensions in the UK. Meanwhile, separate figures show how popular shares Isas have also been hit.
An average shares Individual Savings Account of £10,000 at the start of the year would now be worth £8,778, a 12.2% fall in value, according to financial information service....Read more on this story-----> BBC News - Pensions and Isas hit by market turmoil
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