The auto-enrolment solution for Northern Ireland

Coronavirus and your retirement savings

Posted in General News and Newsletters

Protecting and growing your retirement savings is our highest priority. Back in March 2020 global stock markets took a hit as a result of the coronavirus pandemic, sending many people into a panic about their retirement savings.

The key thing to remember is that pensions are for the long-term and indeed some investment markets have undergone significant recoveries from their lows in 2020.  

If you are close to retirement, you may be worried that your pension savings haven’t had time to recover and grow again.  We are prepared for scenarios like this and if you have remained in the default arrangement, your funds will have been ‘life-styled’.  Lifestyling is designed to help protect you from the possibility of falls in value close to retirement and means your pension will have been moved on phased basis between aged 50 and 65 into less volatile assets such as Cash, Gilts and Bonds.

To see the value of your pension, log into Benpal, our secure online member portal.  If you have not already done so, we would strongly encourage you to activate your Benpal account.