An overwhelming majority of people coming up to retirement fear that a stock market crash like that of 2008 will affect their pension.

Research from pensions adviser Portal Financial found that 87% of people aged between 55 and 65 were either 'very' or 'extremely' concerned about a crash damaging their pension.
Asked whether they were aware that a stock market fall could have an adverse effect on pensions, 85% of respondents agreed.
Portal Financial said this suggested that most understood how pension growth is achieved and that market volatility could affect this.
The survey found 78% of respondents would like the value of their future retirement income to increase by at least 3.5% every year, while 68% consider it important that the value of their future retirement income will not decrease, regardless of stock market downturns.
Managing director Jamie Smith-Thompson said: "Our research confirms that people also want security, not just in their income as they receive it - which an annuity offers once at the point of retirement - but in knowing how much they will receive from a much earlier point, without the worry of a sudden market crash wiping out their retirement prospects."
He said there were products that provided such security long before retirement.
"There are additional fees involved, as with any insurance, [but] many will feel it is worth it to remove the worry of a devastating stock market crash happening in the imminent approach to retirement," Smith-Thompson added.