We’re currently seeing a lot of volatility in the world’s financial markets, which is widely reported in the media under attention-grabbing headlines like ‘Billions wiped off pensions amid worldwide market turmoil’*. While these stories do grab attention, they can also be worrying for pension savers. So what should you do if you’re concerned about your pension? 

Firstly, it’s important to remember the bigger picture and that saving for retirement takes a long time. Over the course of your Plan membership, which could be many years, we expect your savings to grow. During this time, your savings will experience both market highs and lows – in line with the ups and downs of the markets. This is normal. We understand that the lows can seem alarming, but there are some practical things you can do: 

• Think about how long it is until you retire
  Generally, the further you are from retirement, you can afford to take more risk with your savings. In the long-term, higher-risk investments will usually outperform lower-risk investments like cash, despite the ups and downs along the way. 
• Check how your savings are invested
  If, like most of our members, you’re using the default investment option rather than choosing your own investment funds, your savings will benefit from the built-in risk-management system called lifestyling. This is where your savings are automatically moved from higher-risk investments when you’re a long way from retirement into lower-risk investments as you approach your target retirement age. Check how your savings are invested, at least once a year, to make sure it’s still right for you. 
• Don’t panic
  It’s important to avoid making hasty decisions about your pension in response to current market conditions. Moving your investments following a sudden fall in the markets could mean you miss out on any subsequent recovery. 
• Get financial advice
  Before you make any decisions involving your pension, getting professional advice can be helpful. Go to MoneyHelper for information on choosing a financial adviser. 

 *The iPaper, 8 April 2025