What Does Brexit Mean for Your Pension?

Sterling weakness has been good for investors who own FTSE 100 stocks. But concerns are growing that Brexit is distracting politicians from other priorities

Emma Wall 24 July, 2018 | 12:22AM

 

 

Emma Wall: When it comes to Brexit and pensions, it could be argued that there have been benefits to the Brexit vote, at least in the short term anyway. Thanks to sterling becoming weakened, the FTSE 100 rallied, which means investors in this particular market benefited.

Also, the government has been too distracted by Brexit to tinker with lifetime or annual allowances as they have in previous budgets. But it is precisely this distraction which people are concerned about.

According to a survey by Aegon, eight out of 10 investors are worried that the government is just too busy with Brexit to get on with other important issues. Aegon says there is evidence of this. There was supposed to be a ban on cold calling for pension selling to come into place in June and this has been pushed back. And the green paper on social care has been pushed back three times since the Brexit vote.

Aegon, as well as other investors, seem to be urging the government to get back to business as usual as soon as possible when it comes to savings and investing, and pensions - important concepts.

 

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About Author Emma Wall

Emma Wall  is Senior International Editor for Morningstar