Tumbling share values see pension pots plunge

Paul Wilcox, founder and Chairman of the WAY Group

Paul Wilcox, founder and Chairman of the WAY Group, comments in the Express on falling share prices and the impact on pensions:

Paul Wilcox, of retirement planners The WAY Group, said: “Any pension or retirement saving scheme is going to be linked to the fortunes of the world’s stock markets. 

“Now is not the best time to withdraw lump sums from your pension pot, as the majority of funds will have gone down. 

“For ‘ordinary’ savers and those approaching retirement, present valuations may come as a shock but markets – and so pension funds – will recover, and come back probably more strongly.

“It’s best not to be spooked by these short term fluctuations and to sit tight until the storms pass. 

“Sound professional advice on retirement planning should always be top of the list.”

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