Greggs Pension Scheme Annual Newsletter 2020, which is full of useful and important information relating to your Pension Scheme.
Coronavirus and your Pension Savings
It’s been nearly a year now since the coronavirus (Covid-19) outbreak began, and there continue to be fluctuations in the value of shares and other investments. The current value of your pension savings may have gone down as a result of the financial uncertainties during this period.
This can be worrying; however, it is important to remember that your pension is a long-term investment, spread over many years, and that it’s normal to see the value of your savings go up and down in the short term.
If you haven’t selected a fund to invest in, and the vast majority of people in the scheme leave it to the Trustees to choose an appropriate fund, then your pot of savings is placed into what is called a Multi-Asset Fund, which invests across a wide range of different types of funds, including share and government bonds.
If you are a younger saver and you are concerned about the effect on your pension savings in the short term, please remember that there is plenty of time for your pot of money hopefully to return to previous levels and to continue to grow until you retire, although of course this cannot be guaranteed.
If you are planning to retire in the immediate future you may wish to contact Legal & General to obtain information about the options available to you.
Legal & General have a dedicated web page on Coronavirus and your pension savings which you can access here: Legal & General COVID-19
If you have any questions in relation to your pension please contact the Pension Team on email@example.com