The pension panic
How Budget rumours are adding stress to a system that is already struggling
How Budget rumours are adding stress to a system that is already struggling

But it relies on a host of rosy assumptions going in investors’ favour

Political pressure in response to public anxiety will demand policy responses

The market’s calm in the face of war is beginning to crack

The sector remains untested in a severe or prolonged economic downturn

While 45- to 60-year-olds are the least prepared for retirement, Budget rumours are accelerating pension withdrawals

Pullback underscores concerns about looser underwriting standards and rising credit risks