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.”
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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.