'I’m terrified about my pension fund but now it’s too late to withdraw it' 💷 Pension providers have had to deal with a surge in customers contacting them about cashing in their pensions over concerns that they will continue to suddenly decrease in val...
On Tuesday evening, the Bank’s governor, Andrew Bailey, warned that its intervention to buy bonds to stabilise their price will not extend beyond Monday.spoke to a former retail bank employee who left work four years ago due to ill health, who said she had paid into her pension for 20 years.
“I am nearly 58, the pension was designed to be paid out when I am 60 but I don’t know if I will be able to do that now,” she said. As a single person, she relies solely on her own income and is now looking to find a part-time job to support her lifestyle. She added: “I am not working currently, not drawing benefits, but drawing on my savings of which my pension was a big chunk.
“I am now going to have to look for work, I guess that is what the Government wanted. I have paid the maximum into my state pension, so I’ll just be looking for something part-time.”
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