07 November 2008
The Pensions Advisory Service (TPAS) has reported an increase in
public awareness regarding pension schemes and funding levels as a
result of recent stock market turmoil. TPAS claim there have been a
higher than average number of calls to the service during the past
two months concerning the issue.
Chief executive Malcolm McLean expressed hope that something
positive could come out of the financial turmoil, with people
becoming more proactive about saving and seeking other investment
options apart from the default fund.
Mr McLean said: "There may be something good to come from this
that people are now more aware of their pension plans and how much
money they have in them and where that money is
invested...Hopefully this will change the way people think about
pensions and stop the putting money under the bed approach."
