Got a pension question?
- Our help is impartial and free to use. Get in touch online or call us on 0800 011 3797

Help if you’re worried about your investments or pensions

If you have money in some type of investment or pension arrangement, you’ll almost certainly be invested in the stock market. When you see the value of your investments fall – or you’re worried about that happening – you might be tempted to put it all somewhere you think would be safer.

 

But that might be an expensive mistake – it would mean selling your investments at a loss and missing out on the chance to recover those losses when the market starts to rise again. Find out what you need to consider.

When to get financial advice

If you don’t need the money right now – or within the next few years – think very carefully before taking it out.

Get advice from a regulated financial adviser before doing anything. You’ll have to pay for this advice, but it might save you a lot of money and give you peace of mind in the long run.

arrow icon

If you do need the money now and have easily accessible cash savings that could be used instead, then consider that route first. Is this the ‘rainy day’ that you’ve been keeping that money for? If not, then check out other options first.

If you need the money to pay off debts or to keep afloat because your income has dropped (for example, due to the coronavirus pandemic), the government has a range of measures to offer support to people during this difficult time. We can help you navigate the different schemes.

arrow icon

Beware of investment scams

If you decide to leave your investments where they are, it’s still a good idea to review the funds your money is invested in. Do they match the amount of risk you’re comfortable with? Do you even know where they’re invested and how risky the funds are? If the answer to either of those questions is ‘no’, it’s important to get some professional help.

Be very careful of scams. For example, if you’re under 55 and anyone tries to tell you that you can take a loan from your pension to use for your personal needs, don’t believe them – you can’t.

If you take money out of your pension before the age of 55, you’ll end up paying huge fees to the company who suggested it and face a large tax bill. You might even lose what’s left.

Even if you’re over 55, don’t automatically think that using money from your pension to pay debts or bills is the right thing to do. There is something else you can do that might work better for you in the long run. Again, these are decisions that might be best made with the help of a financial adviser. 

What to do next if you’re worried about your investments or pensions

If you’re worried, don’t suffer in silence. Get some help.

arrow icon

Consider getting regulated financial advice. Regulated financial advisers can give you advice on what to do. But make sure they’re regulated, as that gives you more protection if something going wrong.

arrow icon

Review the funds you’re invested in. Make sure they match how much risk you’re comfortable with, your investment objectives and the length of time you have before you will need access to your money.

It’s important not to interact with anyone who contacts you out of the blue and asks for any personal or bank details. Only deal with firms or organisations you’ve researched and which you trust. Reputable companies don’t cold call people.

arrow icon
Was this information useful?
Thank you for your feedback.
We’re always trying to improve our website and services, and your feedback helps us understand how we’re doing.
Looking for us? Now, we’re MoneyHelper

MoneyHelper is the new, easy way to get clear, free,
impartial help for all your money and pension choices.
Whatever your circumstances or plans, move forward with MoneyHelper.

Continue to website
Looking for us? Now, we’re MoneyHelper

MoneyHelper is the new, easy way to get clear, free,
impartial help for all your money and pension choices.
Whatever your circumstances or plans, move forward with MoneyHelper.

Continue to website
Looking for us? Now, we’re MoneyHelper

MoneyHelper is the new, easy way to get clear, free,
impartial help for all your money and pension choices.
Whatever your circumstances or plans, move forward with MoneyHelper.

Continue to website
Talk to us live for…
Talk to us live for…
Talk to us live for pensions guidance using…
Talk to us live for money guidance using…
Hours
  • Mon – Fri:9.00am – 5.00pm
  • Sat, Sun and bank holidays:Closed

* Calls are free. We’re committed to providing you with a quality service, so calls may be recorded or monitored for training purposes and to help us develop our services.

Talk to us live for money guidance using the telephone
Hours
  • Mon – Fri:8.00am – 6.00pm
  • Sat, Sun and bank holidays:Closed

* Calls are free. We’re committed to providing you with a quality service, so calls may be recorded or monitored for training purposes and to help us develop our services.

Talk to us live for pensions guidance using web chat
Hours
  • Mon – Fri:9.00am – 6.00pm
  • Sat, Sun and bank holidays:Closed
Talk to us live for money guidance using webchat
Hours
  • Mon – Fri:8.00am – 6.00pm
  • Sat:8.00am – 3.00pm
  • Sun and bank holidays:Closed
Talk to us for pensions guidance using our web form

We aim to respond within 5 working days

Talk to us for money guidance using our web form

We aim to respond within 2 working days

Talk to us live for money guidance using WhatsApp

Download app: WhatsApp

For help sorting out your debts or credit questions. For everything else please contact us via Webchat or telephone.