DC pensions lose £18bn in October

The fall, to £489bn, marks the largest decrease since February, and follows a period of rallying DC assets due to stock market increases. Earlier in the month combined DC pension assets reached a 16 month high of £520bn, hitting a level not seen since June 2008. Volatility in the equity market means UK workers are continuing to suffer a high level of uncertainty over their pension funds. An example 65 year old retiring on 31 October 2009 would receive an annual retirement income of £8,593, but retiring six months earlier they would have only received £7,133, a difference of over £1...