What will a ‘Brexit’ mean for my pension?
By Kirsten Hastings, 20 Jun 16
With the referendum on whether or not the UK will leave the European Union only days away, Aegon has addressed some of the concerns about how a vote to leave could impact pensions.
Steven Cameron, pensions director at Aegon UK, said: “Clearly, many of our customers want to understand the consequences on their pension were the UK to vote to leave the EU. Unfortunately, some of their questions simply can’t be answered right now.
“For those in defined contribution pensions, its value may go up or down with the value of asset, such as stocks and shares, your funds are invested in. So how the investment markets respond short and long term is likely to affect the value of your pension.
“Other aspects depend on the outcome of negotiations between the UK and the EU which will take place only after an exit vote in the referendum and can’t be predicted with certainty.
“In some other areas of pensions, the UK already sets the rules and so there should be no direct impact.
“If the UK does vote to leave, there will be a period of negotiation, expected to last at least two years and many changes may not be agreed for considerably longer.”
Click through the slides above to see what Aegon recommends…
