Some 51% of people with pensions and/or investments are worried about how their savings are performing, according to a recent Which? survey. So should the new trade deal between the EU and UK be a cause for concern?

Which? surveyed 2,112 UK adults in September and found that of the 1,645 people with pensions and/or investments, 19% were ‘very worried’ and 32% were ‘fairly worried’ about their performance.

The FTSE 100 has surged on news of a Brexit deal since one was agreed on 24 December. It rested at 6,502 points at close of play, similar to pre-lockdown levels in the first week of March. It rose sharply on Tuesday morning to a peak of 6,669 points.

Nerves about the prospects of a trade deal before the end of the transition period on 31 December had been weighing on markets for some time, after already taking a beating by the impact of the coronavirus crisis.

Before Brexit, London’s financial markets had prospered as an EU hub for lending, trading and investing. From 2021, the prosperity of UK markets, which could impact the value of your pensions and investments, is in question.

Here, Which? explains how Brexit could affect your pensions and investments, how firms are working to mitigate risks to your pot and what actions you can take to protect your savings.

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