Following the result of the EU referendum there has been some volatility in the financial markets.
The stock market and your pension savings
The People’s Pension has a wide range of investment funds. These funds invest in a number of different types of assets including cash, fixed interest and shares in companies that are invested in the stock market. This means the value of your pension savings can go down as well as up, as it may be linked to the performance of the stock market.
How does this affect me?
Saving for retirement in a pension scheme is a long-term investment. Stock market values always move up and down, especially over the short term. So although sudden movements can be dramatic, they are generally nothing to worry about.
If you’re planning on accessing your pension savings in the near future you should take extra care. Choosing what to do with your pension savings is an important decision – consider getting some guidance or advice.
Need some help?
The government’s Pension Wise service can help to point you in the right direction.
You can call them on 0800 138 3944 to book a telephone or face-to-face appointment.
You may also want some independent financial advice before you choose what to do. Unbiased can help you locate an adviser in your area.
You can monitor the daily unit prices on the B&CE website.