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`Excellent` pension schemes can help limit debt problems
19/11/2007
Occupational pension schemes can prove to be an "excellent" way of avoiding debt problems in later life, according to a financial expert.
However, there is still "a long way" to go to make such schemes more accountable and reliable for savers so that they avoid debt problems in the future, AWD Chase de Vere said.
Employers should be more accountable for managing occupational pension schemes, particularly given current market instability, claimed Richard Sheppard, head of pensions at the financial services company.
He added: "If we do have an economic downturn in the markets, then that`s going to have a major impact on the liquidity of final salary schemes. We can`t be complacent by any stretch of the imagination."
A survey by Aon Consulting last week named the UK`s state pension system as the worst in the European Union, for the second year running.
