If you receive a pension from us then you will have received a 2.7% increase to your pension in April 2020.
Benefit Statements as at 31 March will be issued later this year and most members are invested in the stockmarket, i.e. company shares traded on a public stock exchange.
Due to the Covid-19 pandemic, stockmarkets around the world have been extremely volatile and many companies have had to suspend or reduce their dividend. Some have had to raise funds from shareholders, and/or arrange more borrowings, in order to survice this uncertain period. Although markets have recovered from their lows seen in March they remain much more volatile than usual.
This can be a worrying time for investors but in all previous downturns markets have recovered eventually and regular investors do benefit when prices are low as it means you buy more investments each month for your regular contribution. Over the long term you should gain most of your return from dividends, and the reinvestment of these. Just a reminder that dividends are the regular payments to shareholders which are usually paid from a company's profits.
The message from most investment professionals seems to be to stay invested and don't make any sudden changes as a result of what is expected to be a relatively short term situation in the context of a longer term investment horizon.
If you are in our 'lifestyle' investment strategies then this means you will be gradually switched to less volatile investments as you near retirement thereby helping to 'lock in' your returns.
If you have any queries then please contact the Pensions Tean.
We are currently working remotely and accessing post once a week. If you can send emails that is the best way to contact us: firstname.lastname@example.org