Will the Ukraine crisis affect my pension?

Will the Ukraine crisis affect my pension?

You may be concerned about reports of market turbulence as a result of the Russia-Ukraine conflict and how this might affect the value of your pension savings.

Although there has been some turbulence in the stock markets, your pension continues to be managed as normal. The People’s Pension structures its investments to manage the risks caused by events such as the Ukraine crisis. We believe the best way to mitigate risk is to invest across the world in a diverse portfolio of assets and this helps us limit the impact of any single event on our members’ pension savings. As a result, only a very small proportion of scheme assets are invested in Russia or in Russian companies. These investments are under review.

Pension saving is about the long term

Remember that pension savings are for the long-term and it’s important not to panic about short-term movements up or down.

For younger savers who need investment growth, there’s plenty of time for the markets to right themselves.

And for members in our glidepath who are more likely to be accessing their money in the near future, we take steps to protect their pension savings from unnecessary risks as they get closer to retirement. Please note that a glidepath doesn’t guarantee the value of your pension pot – the value of investments can go down as well as up.

Find out more about investment changes approaching retirement

Planning to access your pension savings soon?

If you’re planning to access your pension savings in the near future, you may wish to take extra care.

Choosing what to do with your pension savings is an important decision, so you may want to seek advice or guidance before you decide.

Pension Wise is a service that can help, so visit their website for more information. We recommend that you get guidance from Pension Wise about your options.

You may also wish to speak to an independent financial adviser before you choose what to do. If you don’t have a financial adviser, you can find one in your area by visiting the Unbiased website. A financial adviser may charge for any help or advice they give.

Find out more about your guidance and advice options

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