Prudential pension

LindA.

Can anyone enlighten me? I have a pretty dormant pension in the sense it is from past employment, however it does usually grow slightly each year.
I have received the annual statement and it appears on the balance of £17000, it has dropped by some £800 this year. I am completely shocked and not sure what to do.
Is this normal?
Kind regards

Thrugelmir

The value of investments rises and falls that's the nature of the beast. After a 10 year bull market. Investors can become complacent and forget that volatilty isn't that unusual.

How long before you need to access the funds?

enthusiasticsaver

Yes that is pretty normal especially at the moment. Lots of economic uncertainty and investments do go up and down all the time.

worried_jim

LindA. wrote: »

Can anyone enlighten me? I have a pretty dormant pension in the sense it is from past employment, however it does usually grow slightly each year.
I have received the annual statement and it appears on the balance of £17000, it has dropped by some £800 this year. I am completely shocked and not sure what to do.
Is this normal?
Kind regards

I had a loss on 2 out of three pensions this year, first time since 2011. I was pretty peeved for about 5 mins then I got over it. Now if it happens again.......

dunstonh

Can anyone enlighten me? I have a pretty dormant pension in the sense it is from past employment, however it does usually grow slightly each year.

it wont be dormant. It is still active and subject to investment returns.

I have received the annual statement and it appears on the balance of £17000, it has dropped by some £800 this year. I am completely shocked and not sure what to do.

Stockmarkets fell around 16% at the tail end of last year. A relatively small amount and not even enough to be classified as a crash.

Markets fell by more than 16% in 2015/16 and 2008/9 and 2001-3. Were you shocked then?

Is this normal?

yes

LindA.

I am 56 and wanted to keep this as part of my retirement pot in 12 years. I'f this dwindles I will be so disappointed, are there any suggestions?

Paul_Herring

LindA. wrote: »

I am 56 and wanted to keep this as part of my retirement pot in 12 years. I'f this dwindles I will be so disappointed, are there any suggestions?

Wait it out. Seriously. You're seeing the effect of the highlighted bit in the chart below:



For your 'dwindles' it would have to go well below the x axis on that graph (note that the Y starts at 5,000, not 0.)