Pensions to be worth half figure projected

THOUSANDS of people will be forced to survive on pensions worth less than half their original projected values, experts warned yesterday.

So severe has the stock market collapse been that financial experts fear those who took out pensions in the late 1980s may have only a quarter of the value of their pensions left.

As a result, many will be forced to work long after age 65 in a bid to maintain even a fraction of their current standard of living.