As with the rest of the world, our thoughts are with the Ukrainian people caught in the conflict caused by the Russian invasion.

As well as the awful human impacts of the ongoing invasion, you may have seen that financial markets have recently been affected, with negative performance in equity markets and higher volatility (this means how much prices go up and down in short periods of time). So we wanted to give you an update on your NPT pension savings.


The impact of market volatility
The conflict has increased market volatility. We know that sudden changes in the value of your pension account can be alarming. However, it’s worth remembering that pensions are long-term investments. As an example, the market fell 20% almost overnight when the Covid-19 pandemic hit in 2020: it took about three months for shares (equities) to recover, following a low point in March of that year.

We urge you to use caution before making sudden changes to where your money’s invested. If you’re comfortable doing so, you can choose from a range of self-select funds. However, the Life Stage strategies are designed to provide growth when you’re far away from retirement, and protection as you get closer to taking your pension. As a result, market movements may have less of an impact than you might expect on the value of your pension account. If you’re thinking of making changes, we suggest you talk to an independent financial adviser.

For more information on our new investment strategy, visit