The value of private pensions have dropped by mas much as 30% over the last three years according to research by Price Waterhouse Cooper (PwC).
As expected, falls in interest rates as well as global stock markets have hit the value of pensions hard.
PwC indicated that people retiring now are essentially stuck between a ‘rock and a hard place’. This is because, if annuity purchases are delayed until prices are better, then those retiring will face the prospect of no income for a while.
