On 2 April, President Donald Trump announced his tariffs on imports to the US.
This has resulted in stocks and shares falling sharply across the world, with stock markets around the world down an average of 9% over the days following the tariff announcement. The market continues to be volatile.
Depending on how old you are and how close you are to retirement this will have had a different impact on your savings.
For younger savers, it’s likely that your savings have gone down, but don’t panic: you have time on your side. For those closer to retirement, or even in retirement, unless you have chosen your own funds, your savings are invested in a way to protect you from these rapid changes in the market.
Pensions are a long-term investment, and we’ve seen fluctuations like this before. So regardless of your age, we would suggest that you allow yourself time to review your options as it is easy to make knee jerk reactions and change how your savings are invested.
Please note that neither Capita nor the Trustee can give you any financial advice as to what actions are right for you. However, you can contact an Independent Financial Adviser who will be able to help.