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Savers wary of Brexit impact on pensions

Nearly half of savers believe Brexit is bad news for their pension pot, according to Aegon research.

Findings from the Aegon Retirement Confidence Survey show 42 per cent of those polled think the value of their pension fund will fall as a result of Brexit.

Of the 964 people surveyed, just 5 per cent think Brexit will cause their pension savings to grow.

Those with the most negative outlook are aged 18 to 34, with 49 per cent of that group anticipating a fall in their pension savings.

FCA chief downplays government rifts over Brexit

Despite the negative public opinion, Aegon says there has actually been investment growth since the 2016 referendum.

It says £50,000 invested in the FTSE 100 two years ago, with dividends reinvested, would have seen a rise of more than 30 per cent to £65,500.

Aegon pensions director Steven Cameron says: “The reality is that someone who invested in the FTSE 100 just after the referendum in 2016 would have seen substantial growth in their fund.”

Cameron says that the long-term nature of pension investments and the fact that people in their 20s, 30s and 40s won’t be turning their pension pot into a retirement income from some time means young people should not be overly concerned about the Brexit impact on their fund.

AJ Bell said earlier this month that £7.9bn has poured out of UK stock market funds since Brexit.

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  1. I flatly refuse to invest in Brexit Britain and I cannot believe how this country has come to do something so utterly wrong-headed. 88% of my SIPP is in the US, Asia, and Canada, and is most certainly not suffering from Brexit. Though Trump is another issue.

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