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Helen Nugent, Mark Atherton One in ten people have cancelled their pension contributions in an effort to save money and avoid investing in the stock market, The Times has learnt. A report from uSwitch.com — due out this week — will show that householders have decided to sacrifice saving for retirement in order to meet more pressing needs such as food and fuel bills. The new findings are backed up by a study from the National Association of Pension Funds (NAPF) which represents pension schemes with combined assets of about £800 billion. The September survey found that one in ten employees with a company pension intend to cancel their policies scale back contributions or ask for a payment holiday. Ros Altmann, an independent pensions expert and former adviser to the Government on pensions policy, said: “In any recession, people... [read full story]
