Has anyone else seen their pension drop suddenly ?

This must be very unsettling, I have family and friends in the same position it is awful and the consequences of this government’s reckless arrogance is sickening.
 
I have been planning to retire for the last year just looking 3 months ahead at a time until I get too pished off with work but worried now I will have to stretch it out a bit longer might have to start to be nice to people at work for FFS
 
Thank god I have 20 years of a final salary pension locked in and the last 5 years have been a pish poor since this b***ks company took over.. I have never looked at the new pension, and daren't now. I'm 51 and did plan to retire at 55 till they changed my pension.

However, our endowment we kept on, matures in Feb next year but will be cashing in in Dec to pay off the mortgage. I personally hope the changes mean my endowment rises a bit before then.
 
My private pension pot has dropped about 5% this year and that is after I doubled my monthly contributions.

I‘ve reduced them again now because it feels like pouring good money into a black hole when I need more ready cash to pay the increased energy and other bills.

It’s easily the worst economic situation in my 39 years of working.
 
I own my own business and only relatively recently set up a pension.
I think the whole area is fraught with confusing options.
The financial industry enjoys making things opaque I feel.

I looked into setting it up myself after reading about broker fees and what they cost compared to what the broker actually does.
Ended up taking the 'safe' option and used a broker who was recommended to me.
Kind of wanted to set it up myself - after all as a business owner I have to make financial decisions all the time.
Before I signed I put it to him that he would be getting £12k commission or so for doing very little.
The annoying thing is that he wholeheartedly agreed!

I only check it via the annual statement. From memory last year saw a nice big healthy positive bounce. The year before I lost my entire annual contribution as the funds when down so much (Covid?) Sounds like this year will be another bad one.

The other thing is I feel that I can't touch my pension really.
My sister in the states withdrew all of her funds pre-covid then returned after the market went back up.
Seems a good idea if you can get more control?
 
Badonde said:
I own my own business and only relatively recently set up a pension.
I think the whole area is fraught with confusing options.
The financial industry enjoys making things opaque I feel.

I looked into setting it up myself after reading about broker fees and what they cost compared to what the broker actually does.
Ended up taking the 'safe' option and used a broker who was recommended to me.
Kind of wanted to set it up myself - after all as a business owner I have to make financial decisions all the time.
Before I signed I put it to him that he would be getting £12k commission or so for doing very little.
The annoying thing is that he wholeheartedly agreed!

I only check it via the annual statement. From memory last year saw a nice big healthy positive bounce. The year before I lost my entire annual contribution as the funds when down so much (Covid?) Sounds like this year will be another bad one.

The other thing is I feel that I can't touch my pension really.
My sister in the states withdrew all of her funds pre-covid then returned after the market went back up.
Seems a good idea if you can get more control?
Click to expand...
If you withdraw all your funds you will be heavily taxed.
 
exeterboro said:
I was chatting to a bloke in a pub on Wednesday, his pension had dropped £4000 since Monday, what he felt disheartened about was that even in a good year it would never go up that much over the whole period, but due to some incompetent mini budget it could drop so much in a few days.
Click to expand...
I disagree with this. Pension funds are managed. My pension decreased less than the markets crashed against covid, and when back up even more and greater value when they bounced
 
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