Coronavirus: how are my pension savings affected and what should I do?

Falling markets will have taken a bite out of your pension savings. Here are the key questions to consider.

Your pension will have declined, but don’t panic © Getty

The Covid-19 crisis will inevitably have had an impact on your pension – both on the value of your holdings, as financial markets have fallen, and on your ability to continue saving. But now is not the time for rash decisions. Take your time to assess your position and seek professional advice if necessary.

How are my pension savings affected and what should I do?

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David Prosser
Business Columnist

David Prosser is a regular MoneyWeek columnist, writing on small business and entrepreneurship, as well as pensions and other forms of tax-efficient savings and investments. David has been a financial journalist for almost 30 years, specialising initially in personal finance, and then in broader business coverage. He has worked for national newspaper groups including The Financial Times, The Guardian and Observer, Express Newspapers and, most recently, The Independent, where he served for more than three years as business editor.