Personal Pensions

[s.m.h.]

Been paying into a private pension since I was 20 (now 41) and with the current economical mess climate we are in, what, in layman's terms happens to the fund?
I assume its going to be worth jack st at the moment, but cant get any of it out. Does this mean the final value will be worthless, or could it recover to the original forecast?
Is it worth freezing payments and say overpay the mortgage for a while?

I used to have a financial advisor but moved away from his area so any (proper!) advice would be appreciated!

Edited by s.m.h. on Friday 27th February 19:17

[mybrainhurts]

You mean economic...

[Parrot of Doom]

Buy low, sell high. Well I'm no expert but that's my thinking on the matter.

[2 sMoKiN bArReLs]

Good thing about pension is that the government chuck a good bit in (depending on your tax rate).

The drop in the market is probably (still) less than the tax relief.

[s.m.h.]

mybrainhurts said:

You mean economic...

You know what I mean..... See state education strikes again....

Parrot of Doom said:

Buy low, sell high. Well I'm no expert but that's my thinking on the matter.

Not one of Broones advisors are you..

Edited by s.m.h. on Friday 27th February 19:27

[Jasandjules]

The value of the fund will have dropped. It COULD recover by the time you retire, or it may not.

Putting a few extra thousand into the mortgage whilst the market is poor may not be a bad idea IMHO, then once (if?) the market recovers then restart the pension?