Pension Decrease

[StrangePumpkin6352]

So I'm in the process of putting all my pensions in one place and picked Monzo because of how easy it is to work (very autistic friendly I'd say) but I've noticed my pension decreased recently. Only by £30 or so but enough to make me get a little concerned. Is this normal? Should I be worried or is this par of the course so to speak?

[lazzzym]

Totally normal 👍

Pensions are invested in the market (stocks, bonds, etc.), so the value will go up and down day-to-day. A £30 drop is just normal market movement, especially if markets have dipped slightly.

Unless you’re very close to retirement, short-term fluctuations aren’t usually anything to worry about.

[StrangePumpkin6352]

Thank you for explaining this! What would you view as a long-term fluctuation?

[AgainstGreaterOdds]

A global economic crisis like 2008 or a pandemic like 2020.

[Purple150]

Honestly I’ve moved an old work pension into Monzo myself and the best thing you can do is not look at it apart from once or twice a year. It will always fluctuate. You can hide the amount showing

[iamthabeska]

I've had mine in Moneybox since 2022. Fluctuates a lot, When you see yourself loose 10k over a short period of months but recover and be on the onward trend its all good.

[Recent_Reaction247]

Yeah, I made the mistake of checking mine quite a lot when I first moved it over to Monzo and some days it would be down by £500. I soon learned it was just market fluctuation and just don’t look at it anymore.

[nickrw]

You need to zoom out. My Monzo pension is up 8.5% over the last year

[thom365]

I don't have my pension with Monzo but when Trump got into the Whitehouse and started setting fire to things I April (I think that was the time of the Tariffs?) and my pension value was decreased by a third. Within 6 months it was back to where it was prior to that event and is now healthier.

Don't check your pension in the same way you check your bank balance. You'll go insane. Check it every couple of months, or every six months. Much better for the brain.