The impact of FTSE falling 30% for normal people will be...? Surely pension funds will be in huge difficulty unless there's a big recovery before Christmas. After the dotcom bubble burst do you remember how many pension schemes were messed up and people got rid of final salary pension schemes? How they had to get people to contribute more to their occupational pensions? How many people's personal pension funds were absolutely hammered?
All markets falling 30% means 30% less money in personal pension funds also. If you were approaching retirement and not mostly in cash then this could mean a few more years of work.
The media of course are not talking about the impact of this. Nor are they even describing any of this as a "CRASH" which it clearly is.
All markets falling 30% means 30% less money in personal pension funds also. If you were approaching retirement and not mostly in cash then this could mean a few more years of work.
The media of course are not talking about the impact of this. Nor are they even describing any of this as a "CRASH" which it clearly is.
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