How will Brexit affect my pension savings?

The UK left the European Union on 31 January 2020. Brexit has not had major impacts on occupational pension schemes like The People’s Pension. This is because the bulk of the laws and regulations governing occupational pension schemes are made by the UK Parliament and enforced by agencies of the UK government. Pensions are a domestic issue, mainly governed by UK law.

While Brexit caused some economic uncertainty in the UK, The People’s Pension structures its investments to manage the risks caused by events like Brexit. We invest across the world in a diverse portfolio of assets, not just in the UK and this helps us limit the impact of any single event on our members’ pension savings.

Your pension is protected by trust law and is legally separated from the finances of the company that looks after it.  For more information on how your savings are protected, visit our webpage about the security of your savings.

We are continuing to monitor the situation for impacts following Brexit and will base our investment decisions on in depth research and analysis, as we aim to meet our members’ long-term investment objectives.

You can monitor how the investment fund(s) your pension pot is invested in is/are performing or check our daily unit prices on our website.

If you’re planning to access 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. Visit Pension Wise, a free and impartial government service, for online, face-to-face or telephone guidance. You can also speak to an FCA-regulated adviser to get advice based on your personal circumstances.  If you don’t already have an adviser, you can find one on the Unbiased website. Please note that an adviser may charge for their advice.

We’ve teamed up with LV= to provide our members with access to personalised, regulated financial advice.

Please note that LV=’s telephone advice service is a paid-for service. They’ll explain to you the cost of this service before offering you advice.


Guidance and advice for members

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