An old stock market adage says ‘sell in May and go away’. The problem with that from a pensions scheme’s perspective is that ‘going away’ is not generally an option. Pension funds are run with very long-term horizons – literally a lifetime.
Starting with the fundamentals, pension funds are designed to accumulate capital to retirement and then utilise that capital to produce a guaranteed income. This allows the individual to retire ‘with dignity’. If that is your expectation, you need to read on.
