| 10.5°C Dublin

Close

Premium

Your Questions: I'm worried stock market turmoil has hit my pension, should I be taking action?

 

Close

Stock image

Stock image

Stock image

Question: I have been putting money into a pension fund for the last 10 years and even though I won't be retiring for over 20 years, I'm worried about the recent falls in the stock market. I have friends in similar positions, and we are all left wondering what we should do right now. Should we be taking action?

Answer: We asked the CEO of the Irish Association of Pension Funds, Jerry Moriarty. He said he can't comment specifically without knowing the type of pension fund you are invested in or what your general circumstances are. But he did say that most funds have some exposure to stocks, bonds and other investment assets, and are spread across a range of assets.

So if you hear that one of these has been hit - say the stock market has fallen 20pc - that doesn't mean your pension has fallen by the same amount as only a proportion of your money may be in stocks.