Bumpy markets: Pension schemes call for calm

The FTSE fell by more than 3% yesterday, wiping £50bn off the value of the country's 100 biggest names, as fears over US and European sovereign debt spread. London's leading index was sharply lower in Friday trading too, but has recovered marginally on publication of better-than-expected jobs data from the US. A flight from equities has caused fears for pension funds, which are often heavily invested in the asset class. Pension experts have warned scheme trustees not to panic their members over the crash. Laith Khalaf, pensions analyst at Hargreaves Lansdown, said: "People inves...