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| Recession 'will not impact massively on pensions' |
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| Latest Recruitment News - Mature Aged Recruitment News |
| Written by DirectNews Feed |
| Thursday, 01 July 2010 00:00 |
 An expert has said that the effects of the global economic downturn will not have an overly-adverse impact on employee pension schemes.Research released earlier this week (June 29th) by Scottish Widows revealed that savings have seen a dramatic drop over the last 12 months and are now at their lowest level since 2006. The company's latest Pension Index study, which measures how many people are saving adequately for their post-retirement future, shows that the number of workers doing so has dropped by six per cent to 48 per cent across the country. Also, the amount of the workforce nationwide that could save money into their pension scheme but choose not to is now at 21 per cent, while 41 per cent responded that they have saved less due to the recession. However, Robin Ellison, partner at law firm Pinsent Masons, commented that although the downturn - which began in 2008 - is "unpleasant [it] shouldn't make too much of a difference" to pension funding. Posted by Daniel Frost 
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