Why is everyone worried about mortgages but no one worried about pensions?

[Icanstillrecallourlastsummer]

There's numerous threads with people wanting to pay thousands to get out of their mortgages, but noone seems concerned that pension funds are (or were, before urgent intervention from the BoE) on the brink of collapse as result of the mini-budget.

Anyone urgently cashing in on their pensions?

My pension is worth fuck all really. Despite earning a decent salary, it's not grown much and won't be enough to live on. So, for me, it makes little difference if it crashes out. I can't see that I'll ever afford to retire anyway.

Agree. My pension is worth a few hundred per year, after similar shit pulled by previous governments. Never saw any point in throwing hard earned money at it after that. Money that you don’t get to take back for decades - when quite frankly, being able to have a roof over our heads and food on the table today is more important.
So no, cannot be arsed to worry about a tomorrow which may never come.

I've just started a pension in my 50's 😬

If interest rates are high isn't that a good thing? Or is that just for savings?

What kind of pension funds are you talking about? Most people have defined contribution pensions and they are generally just invested in the stock market. That is down this year but in the longer term will give you better returns than keeping the money in cash.

High interest rates are good for pensions I thought, plus any stocks bought, are bought cheaper.

I am in an absolute panic about my pension.

It has dropped between 10-20% within a year, and I need to start drawing it next year - there isn't time for it to regain value. My retirement (never going to be a life of Riley) is going to be seriously affected. Feeling pretty miserable, really.

@SuperCamp you’re not drawing it all in one year though.

People who would worry about their pensions are people who are about to start claiming on them. If you're got 10+ years to go, there's still time to make good any losses. The UK economy is fundamentally good, it's just these particular morons who are causing havoc now and for the short-medium term.

I work for the local government so my pension is 1/80th of my salary added every year to a career average pot.

Due to the lack of confidence in the market they are losing huge amounts of capital. Apparently funds were on the brink of insolvency today, reported by sky, if it hadn't been for the intervention.

Pension funds are invested in bonds, securities and equities. Hopefully everyone’s funds are invested across a range of different exposures. The Bank of England are now buying bonds to try and stabilise the markets.

Yes government pensions are relatively well protected. The pensions that the government isn't protecting are the private ones. The same ones they are, apparently, close to destroying.

I think people are generally worrying about shorter term problems, so unless you are going to be drawing it soon then people are just not thinking about it.

I'm worried about my mortgage increases, fuel costs and food costs at the moment because these are the things that are having an impact on my finances now. I'll worry about my pension nearer the time.

Because for many people MORTGAGES are an immediate issue whereas PENSIONS are a future issue!

If there is an IMF bailout, government and state pensions would be at risk.

The guy who predicted the 08 recession says the UK is on its way to an IMF bailout. www.telegraph.co.uk/business/2022/09/24/how-tumbling-pound-pushing-prices/

One of my DC pensions has lost £1000 since Monday! Has lost £3000 in total since the Ukraine war.

I'm just angry about this shower of shite, I just dont understand how we can have a chancellor who is soooo reckless and where are they - him and fucking Truss, no where to be seen. Honestly they both need sacking immediately.
Im a good 20 years from getting my pension and still on a fixed rate mortgage so im one of the fortunate ones that hopefully can ride this out, yet im sat here getting so angry at the news every day ' never thought id feel so mad about a politican!

Would the U.K. government let private pension funds collapse? Surely they would intervene to support them?

this uk government? The government who caused the crisis in the first place?

Because nobody knew. For 99.9% of people, this news has just come out of the blue from nowhere.
Or alternatively, aren't old enough to be able to cash out any of their pension, so can't do anything anyway.

Have you seen annunities are back in the news though. Best rates for years.

Fortunately I have a Local Government pension, which should be safe. I really feel for those whose pension pots are sinking though.

As others have said, mortgages are affecting people now ( I still have 25 years of paying a mortgage and need to move in the next few years). My pension is 30 years away so no point worrying about that.
Older people will worry about pensions, but they've probably paid off their mortgage already.

I’m 34. I’ll be working until my death day so I don’t care about my pension really.

I think the collapse in bonds will affect final salary pensions as most of those invest heavily in gilts rather than shares to meet their liabilities.

if you have a private pension and have lifestyling on it and are in the last few years, you will have seen a big hit this year.

some long dated bond funds are down 20% over 5 years and touching 40% year to date!