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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.”


Sales rise at Just Retirement

Just Retirement sales rose by 12 per cent for its third quarter ending March 31 to 184.7m from 164.8m in the previous year.

Simple income choice from NDFA

NDFA has brought out a FTSE 100-linked structured product that provides a choice of annual or monthly income over a term of five years and six months.

Annuity standards

The Association of British Insurers says it has toughened up its standards for processing open market annuities by scrapping its 10-day turn-round rule in favour of insurers paying out funds by a selected retirement date.

Persimmon halts new starts

Housebuilder Persimmon has postponed starting work on its scheduled new sites after it revealed a slump of 18 per cent in sales volumes this year.


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