NAPF aims to allay fears after stock market falls
The National Association of Pension Funds (NAPF) has aimed to allay the fears of anyone worried about its members' investments in the wake of stock market falls of recent days.
Billions of pounds has been wiped off the value of stock exchanges around the world this week, but the NAPF has been keen to stress that its investments are made in line with a long-term strategy.
Many thousands of Britons are saving for retirement via an occupational pension fund and the association maintains that financial market turmoil will not impact the ability of fund managers to pay out to their members.
Policy director at the NAPF Nigel Peaple said: "As pension funds are long-term investors, there is no reason to believe short-term stock market falls will have a significant impact on workplace pensions.
"In any case, pension funds invest in a range of assets, so to some extent, they are cushioned from such movements."
A study by Baring Asset Management recently established that around a quarter of all British adults are currently neglecting to save for retirement at all.
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