Pension with Prudential

[Guardsman18]

Hi. I wonder if anyone can help. I had £31,000 in a flexi draw down pension pot and today I have £27,000.

I'm so disappointed! I know that they can go up or down but it's a very low risk policy (if that's the right word). I knew that I may not make a lot of money with it being so low risk but I honestly didn't think I'd lose any.

I appreciate that I probably sound thick but can anyone explain or do I just have to suck it up?

Thank you

Everything is down at the moment, they will pick back up, just sit tight.

Thanks. I wasn't going to take any out yet. It has taken 2-3 years to grow a £1000 and within 2 weeks - £4000 ish gone!

One more thing - is it not a real loss as such? If it took that many years to get £1000, then it could take years and years to get back to where it was.

If that makes sense ...

Share prices are on their knees at the moment so most pension fund values are down. But it's only a problem if you plan to spend any in the next year or two.

The values will come back up over the longer term. It's best not to look at the moment, it's only going to get you down.

Guardsman 18 Snap!

I too have a relatively small pension pot with Prudential. Was worth £37.5k 2 weeks ago and now down to £32,600.

However, in fairness, I am early retired and have been taking a small pension from it since 2016 so am still in a "Plus position" if I calculate what it was worth originally and deduct what I have withdrawn.

I contacted them Monday morning to cease taking any further monies from the fund as I am fortunate inasmuch as I have monies elsewhere I can use with no risk. As a pp has stated, just leave it alone and once the Stock Market improves your fund will increase again.

@Raffles. Thanks for you reply. I'm not in a plus position!

It's only grown a grand in 2/3 years but the £30,000 I put in was mine! They can have their grand back but the rest was mine I tell you!

Just kidding now - being at home is doing my head in. I wish I hadn't looked tbh.

Just to position this, the cautious benchmark is down 14.6% in the last 5 weeks so you haven’t lost any more than anyone else at that level of risk. Unfortunately this had had a devastating effect on financial markets and its only governments intervening that has stopped it being worse.

My pension is down 26% in 5 weeks ! Every penny I have paid in the last 5 years has effectively gone (£22,000) Hopefully it will bounce back at some point. They usually do but it may take a year or two to get back to where it was.