Markets leave pensioners 60% worse off

PA

Anyone planning to retire on anything more than a pittance has had an uphill battle for years. You can't rely on the government, your employer is increasingly likely to dodge the bullet. And if you take it all on yourself you're being dealt blow after blow by the markets.

Now it emerges that the bond market is moving in for a killer blow that will leave you with a 60% smaller pension. So what's happening?