HARD WORKING Britons were last night facing a devastating impact on their pension funds as £50 billion was wiped off the stock market in yet another Black Monday.
The FTSE 100 plunged to a six-year low while shares on New York's Dow fell to their lowest mark since 1997.
Markets across Europe fell with a stark warning that the worst may be yet come. The losses will leave many Britons worrying about whether they will have enough to live on in retirement because their benefits schemes rely on the performance of stock market investments.
Many of those coming to retirement age may have to postpone cashing in their pension pot until the stock market recovers enough to enable pensioners to live a reasonably comfortable retirement.
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