is there any safe or safer way to make a pension contribution just now?

[thereisfreedomwithin]

my private pension is held in stocks and shares which have fallen by a third and I think still have further to go. So it would be bonkers to make a contribution to the standard fund just now.

However, I have some cash still and I want to be responsible and to try to provide for my future. Does anyone know if you can contribute to(essentially) a sort of savings account by way of pension contribution?

Actually now is a really good time to add to your fund as you will be buying more stocks and shares for your money. It is scary how the market has dropped but it should recover well once the UK is out of the crisis.

Is your pension in an actively managed fund?

Also consider how long you have until retirement to allow the market to recover.

If you are still some years off retirement, this is actually a great time to put your money into equities as you'll get more for your investment and it will have the potential to grow much more when markets recover.

If you want to hold more cash you might as well just reduce your overall contribution for now. But consider whether that is really your best option. If you are shortly to retire your portfolio should be being managed conservatively anyway.

"Is your pension in an actively managed fund?"

I'm not sure what that means Champagne.
It began as a workplace fund that I "inherited" as a sole trader. I have put money in over the past few years and built up a pot.
I hope to work for another 20 years (though my work is likely to stop for a year or so during the crisis)

An 'actively managed fund' is where someone is choosing which assets you invest in. The alternative is a 'passive' fund which performs in line with an index (for instance the FTSE100).

As PPs say - this is a good time to put money into your pension! Falling markets mean you will be able to buy assets cheaply which (unless this is the end of the world 🤷‍♀️) will have recovered and more by the time you retire.

Sorry I’m trying to concentrate on your very sensible reply but I’ve completely lost the plot because of your wonderful username I’m now going to go away and think about how it felt to read that book for the first time ( this is why I’m not a millionaire)

I recently discovered it again - highly recommended as comfort-reading 🩰

When the market is down it’s a good time to invest in shares. They may fall further but you will still be buying when prices are low. You’ll also get tax relief in your investment.