For those members who regularly monitor the value of their pension savings, this year’s increased market volatility may have been quite unsettling.
During 2022 we have seen a change in global monetary policy and increasing interest rates, the continued impact of the invasion of Ukraine, as well as a number of UK Government policy changes – all of which have prompted investment markets to react significantly.
Whenever investment markets are volatile, you’ll see changes in the value of your pension savings. These changes are a normal part of long-term investing, as the value of investments can go down as well as up, particularly over the short-term.
During uncertain times, it may be tempting to make impulsive decisions about your pension savings based on short-term concerns, such as switching investments. However, prior to making any such decisions we would strongly encourage members to speak to a financial adviser.
Market movements – both ups and downs - are normal over the short term, trying to pick the right time to switch investments is not only incredibly difficult, but carries its own risks.
Rest assured that the Trustee continues to monitor the performance of all of the available investment funds on your behalf to ensure the appropriateness of the pension scheme’s long-term investment strategies and options and will take action where necessary.
If you are interested in speaking with an independent financial adviser, you can find a list of IFAs in your area, please visit www.moneyhelper.org.uk