Savers urged to keep calm and not to raid pension pots in the wake of Brexit

Emily Jacobs

Emily Jacobs

Pension experts have urged caution in the wake of the UK’s decision to exit the European Union.

Emily Jacobs, Director of Newcastle-under-Lyme based Richard Jacobs Pension and Trustee Services, said that people should not panic and pause to consider their options.

“The current volatality on the financial markets can lead to a reaction with people looking to take money from their pension pots.

“It is clear that pension funds, in common with stocks and shares, will have taken a hit in recent days, but it must also be remembered that pensions are a long term saving plan.

“It is generally wise to leave the money invested in your pension until you need it.  

“Taking smaller withdrawals over a longer time period will often be less risky than taking a large withdrawal all at once.”

ENDS

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Notes to Editors:

Richard Jacobs Pension & Trustee Services Ltd was established in 1992 and operates from offices at Brindley Court, Lymedale Business Park, Newcastle-under-Lyme.