Private pension value has dropped, should I keep paying £100 monthly?

[Pensiongoingdown]

Just looked at my private pension and it's gone down again. I have had it years and can't afford to put a lot away in it, £100 a month so its not very big. It had just hit £32K before the war and now it's around the £29K mark.
I can't decide whether it's actually worth carrying on with putting money in it.

Are there any pension people around that can advise please? I am pretty money savvy but pensions have me stumped

How old are you?

drops are a good time to contribute money - think of it like it is currently on sale - when the price goes back up it will be worth more

Agreed, with the exception of if you are approaching retirement (next 5 years).

Yes, in fact it’s good to invest when the markets are down.

Take a deep breath and look at the stock market chart since the beginning of time. It always goes up in the long run, always.

Any money you put in now while it is down will make you more profit than if you put it in when it was higher, because it will grow more relatively. Not only that but you will miss out on the tax relief which essentially means you are up even if the money goes down as you get a minimum 20% bump just by getting the tax back - you can’t get that in a savings account, ever.

Do not ever stop paying into your pension, you will regret it in future.

This could be a good time to put it in. The drop only matters now if you need it imminently.

Forgot to say I am 53. I know I have many years yet but it just feels a bit soul destroying at the moment seeing going down on what will be a paltry sum on retirement anyway.

The same thing happened with the Trump Tarrif thing and the markets bounced back.

I’d recommend watching The Rebel Finance School videos. If you’re not very close to retirement age definitely keep investing. Over time the stock market always goes up, despite shorter term bursts of volatility

Your 32K the amount that dh has lost on his pension and he needs to start drawing on it this year as well 🤔
You have my sympathy .

You have to try and change your mindset at this point- ie you’re buying at a discount rather than you’ve lost money. Once you need to start drawing down it’s a problem but during the accumulation phase it gives you a chance to buy at a lower price.

What prompted you to look? Do you normally keep track of it? I can guarantee it will have gone up and down like a yoyo for the entire time you've had it. Thats investing. Every £100 that you pay in while the markets are down will make you more return when the markets go up. You have plenty of time before retirement.

Keep paying.

Its the "best method" you.buy the dip and then get bigger gains

I actually just put in a large lump sum

Yes you should. Pensions are a long term investment and often suffer from fluctuations but recover over time.

If you’re planning on retiring at the Uk pension age then you have lots of time to make up the losses so Keep putting in to your pension pot. Obviously nearer pension age you need to pay closer attention . Agree it’s nail biting - my husbands just dropped £20,000 but he said he’s not worrying just yet as he has similar time to you until retirement age.

Then you put it in cash so you aren’t exposed to stock market variables when approaching retirement. Standard to move to safer investments even with lower returns 5 years from retirement.

Every time Trump opens his mouth the markets drop . They will go back up and a drop is a good time to invest .

Everything has dropped at the moment due to the war in the middle east. Assume you’re not near pension age, so sure it will ride out the short term drops. Hopefully if things resolve, it will increase. It’s always worth paying into a pension.

What are you invested in, op?

This is exactly the time to keep paying in- everything is on sale. As you get closer to retirement you’ll want to gradually move some (not all, unless you’re planning to buy an annuity) into less volatile assets. But that is some way off.

Keeping paying in, increase your contributions as much as you can. As others have said, the market is having a sale. That’s not much of a pot for retirement. What’s your plan for funding your retirement?

what is the pension invested in?

Don't stop now while it's dipped. Your future self in your 60s will be thankful.

We had 10k wiped off an investment last week, not a pension. You just don’t worry about it. DH is planning on buying. It’s holding your nerve.

Keep contributing.
Not much older than you and gained 10% Jan- Feb but the recent March Hare Madness has wiped away half those gains! Have a look at your gain/loss for past 12mos, investing requires a cool head and hold the line thinking.

I will keep paying in then. It's just very disheartening.

Wobbly, haven't a clue what it's invested in, wouldn't even know how to find out of better it, as I say, pensions baffle me. And I know it's not a lot but it's all I can afford to put in. I would love to put more in but on a MW job the money isn't there

Who is the pension provider? Is there an app?

It should be fairly easy to find out what you’re investing in and check that it’s suitable for what you want. The default fund they put people in isn’t suitable for everyone.