What to do about my pension

Moby45

My private pension has lost @ £9000 in a year and I'm wondering what to do? Does anybody have any advice please?

Dazed_and_C0nfused

Moby45 said:

My private pension has lost @ £9000 in a year and I'm wondering what to do? Does anybody have any advice please?

Yes.  How about some context.

Dropping £9,000 from a £10,000k fund is bad.

Dropping £9,000 from a £1,000,000 fund is, given the last 12 months, not too bad.

Moby45

Yes £75 to £64k

MX5huggy

Probably nothing, except add more money, there’s a sale on you know. 

But what’s the total value and what is it invested in? to see if you’ve made a fundamental mistake that needs rectification. 

dunstonh

Yes £75 to £64k

That is nothing then.   

What did you do all the other times the value fell?  Why should this time be any different?

london21

Are you retiring in the next 5 years and need the money.

Over the long term should be fine but at present the market is unstable. 

Swipe

If the op is 45 as their name may suggest then no need to sweat at all

Cotswoldtony

Pension funds are paying out more than the funds are making so it's a fire sale at the moment selling assets like government bonds therefore the Bank of England is printing money (£65 billion) to buy them devaluing them further to shore up the dam.

Moby45

london21 said:

Are you retiring in the next 5 years and need the money.

Over the long term should be fine but at present the market is unstable. 

Thanks london21 and everybody else that's replied. I was hoping to retire in the next 2 - 3 years and I've never noticed such a big decrease in my pension fund before, so it was quite alarming when I saw it this time. Hopefully, it will start to rally again soon.

Albermarle

Moby45 said:

london21 said:

Are you retiring in the next 5 years and need the money.

Over the long term should be fine but at present the market is unstable. 

Thanks london21 and everybody else that's replied. I was hoping to retire in the next 2 - 3 years and I've never noticed such a big decrease in my pension fund before, so it was quite alarming when I saw it this time. Hopefully, it will start to rally again soon.

Retiring and taking your pension are not necessarily the same thing. Also unless you intend to take the pension pot all at once, then you will be looking at a longer time scale than 2 or 3 years.