Pension

KazLea00120

I am 56 and have a private pension with Prudential. I am unsure what to do as the value is decreasing every day. 
I am thinking of taking the 25% tax free out but the remainder has to go into drawdown and down know where is safe at the moment to put it.

Any help and advice please. 
Thank you

Albermarle

Normally it is not a good idea to withdraw from a pension/investment after it has recently gone down, unless you really need the money. Normally best to leave it in the hope/expectation it will go up again.
If you look back you will see that it will have gone down regularly over the last decades and then gone up again.
To get more detailed comment, you will need to supply some actual figures and what the pension is invested in.

dunstonh

I am 56 and have a private pension with Prudential. I am unsure what to do as the value is decreasing every day. 

That is not correct.

The value decreases on negative days and increases on positive days.    There have been positives and negatives.  However, in 2022 there have been more negatives.

What did you do in 2020 when the losses were greater than now?
 What did you do in 2018 when the losses were about the same as now?
What did you do in 2015/16 when the losses were about the same as now?
What did you do in 2008 when the losses were far greater than now?
What did you do in 2000-2002 when the losses were far greater than now?

I suspect you did nothing.  So, why do you think you need to do something now?

LV_426

dunstonh said:

I am 56 and have a private pension with Prudential. I am unsure what to do as the value is decreasing every day. 

That is not correct.

The value decreases on negative days and increases on positive days.    There have been positives and negatives.  However, in 2022 there have been more negatives.

What did you do in 2020 when the losses were greater than now?
 What did you do in 2018 when the losses were about the same as now?
What did you do in 2015/16 when the losses were about the same as now?
What did you do in 2008 when the losses were far greater than now?
What did you do in 2000-2002 when the losses were far greater than now?

I suspect you did nothing.  So, why do you think you need to do something now?

This should be a sticky post.
Does the forum get this flurry of worried posts every time the market dips?

Albermarle

LV_426 said:

dunstonh said:

I am 56 and have a private pension with Prudential. I am unsure what to do as the value is decreasing every day. 

That is not correct.

The value decreases on negative days and increases on positive days.    There have been positives and negatives.  However, in 2022 there have been more negatives.

What did you do in 2020 when the losses were greater than now?
 What did you do in 2018 when the losses were about the same as now?
What did you do in 2015/16 when the losses were about the same as now?
What did you do in 2008 when the losses were far greater than now?
What did you do in 2000-2002 when the losses were far greater than now?

I suspect you did nothing.  So, why do you think you need to do something now?

This should be a sticky post.
Does the forum get this flurry of worried posts every time the market dips?

Yes, particularly so this time. Although stock markets regularly go up and down, it is unusual for bond/gilts markets to go down so much at the same time.