Third of IFAs expect pension savings drop this year

The nationwide poll of advisers found 29% expect a drop in pension investment by existing clients in 2008. They say savers are deterred by a combination of stock market volatility and the need to divert spare money to cover increasing living costs. Its research also shows the average predicted reduction in pension investment is a substantial 21%. The estimate from IFAs comes as figures from MetLife show the FTSE100 has lost around 7.6% since the start of 2008. At one stage in mid-March, the index of the UK’s leading shares was more than 16% lower than its 2008 starting level of 6,456...