Financial crisis cut back pension plans.

In times of economic uncertainty people easily cut back on their pension contributions. In england already one in ten people have cancelled their savings for retirement because they have more pressing financial needs such as paying the food and fuel bills or they want to avoid investing in the stockmarket where the share prices of pension funds are falling down. Nevertheless people who now stop their pension contributions will have to make bigger future contributions to fill the gap they have left. So it is important that people make well-informed choices about their pension plan despite the financial crisis and the fact that their retirement could be a long way off.

Marjolein Deroose

link: http://www.timesonline.co.uk/tol/money/article4936009.ece