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Pension Crash

YorkshirePete
Posts: 17 Forumite

Hi. I’m 9 years from retirement so I’ve got a little way to go. But my pension has lost £21k in the last week due to market fluctuations and the Trump trade tariffs. My worry is that this is going to erode away my pension pot and not leave enough time to recover my losses. Can anyone offer and advice
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Comments
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What percentage of your pension investments does that £21,000 represent?
It's too late to react to the latest instability.
For now, do nothing.1 -
I have received a notification from my pension as well and upon checking saw that it had fallen a few thousands but I don't think there is anything you can do since you cannot take the pension out before retirement age. At the most you can stop paying into it.0
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Some recent threads on the same subject.
Pension crisis!! — MoneySavingExpert Forum
SJP Portfolio value drop — MoneySavingExpert Forum
advice for falling market — MoneySavingExpert Forum1 -
Uriziel said:I have received a notification from my pension as well and upon checking saw that it had fallen a few thousands but I don't think there is anything you can do since you cannot take the pension out before retirement age. At the most you can stop paying into it.
Having said that, 'keep calm and carry on' will generally be the most appropriate response to current market volatility, as covered extensively on all the other threads about this....2 -
I know precisely how you feel. I was looking at taking some pensions and cashing in shares back in 2020 and then there was a flurry of activity on the far side of Europe and things took a nose dive. Things had nicely recovered up until a week back and so those bits that I haven't accessed are going to have to wait a while longer.
Not the same thing but for my shares I put the numbers on a spreadsheet and thought about at what price I would be happy to sell. And then mentally divided my shares into chunks and thought "I'll sell these when the share price reaches £X and then some more when it's up another 50p a share" and so on. It showed me I could have some ££ in the bank but meant I wouldn't lose out completely to a rising market.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe and Old Style Money Saving boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
"Never retract, never explain, never apologise; get things done and let them howl.” Nellie McClung
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The tariffs have actually all been delayed by 90 days from today with exception of China and apparently the markets are recovering already.0
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Uriziel said:The tariffs have actually all been delayed by 90 days from today with exception of China and apparently the markets are recovering already.6
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Uriziel said:The tariffs have actually all been delayed by 90 days from today with exception of China and apparently the markets are recovering already.3
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YorkshirePete said:Hi. I’m 9 years from retirement so I’ve got a little way to go. But my pension has lost £21k in the last week due to market fluctuations and the Trump trade tariffs. My worry is that this is going to erode away my pension pot and not leave enough time to recover my losses. Can anyone offer and advice5
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Pension CrashPensions haven't crashed. Pensions are just a container for investments. It is the investments within the pension that move around. Most, but not all markets have dropped by a level that is considered a crash. However, only just.But my pension has lost £21k in the last week due to market fluctuations and the Trump trade tariffs. My worry is that this is going to erode away my pension pot and not leave enough time to recover my losses. Can anyone offer and adviceCrashes occur around once every 4 years. What did you do in the previous crashes? (2020,2018,2015/16,2008,2000-2002)
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.5
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