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Pressure predicted to hit pension savers

Twenty-nine per cent of advisers expect clients to save less into their pensions this year due to market conditions, according to MetLife’s adviser survey.

The average predicted reduction is 21 per cent. Strategic development and marketing director Dominic Grinstead says: “Stockmarket volatility has been one of the biggest concerns with the impact of the credit crunch adding to the pressure on people’s finances.”

“It is worrying that nearly one in three IFAs is expecting a drop in pension investment by existing clients this year and the predicted reductions are significant. Market volatility looks set to continue throughout 2008 and this appears to be making some pension savers reconsider their decision to invest.”

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