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Know How the Coronavirus Affects Pensions Around the Globe

Markets may be crashing due to the Coronavirus, but that does not mean that you should panic and rush to withdraw your funds. In fact, it is wiser to stay put and resist the urge to take out your pension, especially at a low value.

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Know How the Coronavirus Affects Pensions Around the Globe

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  1. Know How the Coronavirus Affects Pensions Around the Globe Markets may be crashing due to the Coronavirus, but that does not mean that you should panic and rush to withdraw your funds. In fact, it is wiser to stay put and resist the urge to take out your pension, especially at a low value. An expat pension transfer specialist can offer reliable advice on what you can do in this time of uncertainty and help you understand that you are not alone, as the Coronavirus is affecting pensions around the world. How has the pandemic affected the UK so far? By March 12, the FTSE or the UK share index declined by around 16 percent, and 27.5 percent in February 2020. Likewise, the S&P fell by 17.7 percent and 26.5% within those time frames. These declines may reflect the reversal of the relatively robust equity market gains until February, but you may be concerned about their impact on your pension and earnings down the line, especially if you are planning to retire in another country with an expat pension transfer. A financial adviser may be able to offer advice and some insight to help you make an informed decision. The silver lining As you go over the news and expert views on equity markets, you will find that they are talking about the short-term market movements. But pension funds are medium to long- term investments. Although there is no guarantee, history demonstrates that markets can recover. Financial experts have found that a diversified portfolio could offer some form of protection in a declining market. Moreover, it may buffer the impact caused by crashing equity markets. The effect of the Coronavirus is on a global scale, but there are other reasons for market volatility. The US has prevented flights from Europe, except the UK, and Russia and Saudi Arabia are have conflicts with oil prices. The pandemic may be an underlying impact, but those incidents have created further negative outlooks on the market. If you are planning an expat pension transfer upon retirement, it may be wise to keep a diversified portfolio that suits your risk profile in the long run, especially in times of too much market volatility, like what we are experiencing now. If you think your risk profile changed, consult with a pension transfer expert or a professional investment manager.

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