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Sunday Mail Exclusive: Scottish retirement savings on the first line of the commercial war of the US president, since experts confirm a billionaire blow.
Donald Trump’s tariff commercial war has cleared up to £ 12 billion of Scottish pension funds, the Sunday Mail can reveal. The president of the United States sent global markets last week by cutting billions of values of values even after a partial or partial turn.
And our pensions were in the first line of the butcher shop of the stock market, with experts confirming an initial blow of billions of pounds to the value of the nation’s retirement savings. The Scottish boss of Lib dem, Alex Cole-Hamilton, criticized: “Donald Trump is an economic demolition ball.
“His Daft tariff plan will leave Americans and the British worse. It is not difficult to see how he managed to bankrupt the casinos. Whether it is mid -race or approaches retirement, this is terrible news.
“Liberal Democrats have asked Prime Minister to work with allies such as EU and Canada to coordinate efforts to protect our economies and reject Trump’s bullying.”
The amount that the average SCOC has in its pension boat varies widely depending on its age, with an average figure of £ 9500 for those aged 25 to 34, increasing to £ 189,700 for those of support 55-64.
The analysis of ONS data suggests that a typical career of mid -career in the United Kingdom saw a fall of £ 5968 in his pension boat in chaos after Trump’s announcement of a radical tariff regime against 90 countries, with an estimated stroke of 7 percent to a typical pension investment fund.
With around 1.94 million workers in Scotland that is believed to be part of a pension plan in the workplace, it could mean that they have been deleted to the nation’s retirement savings.
Tom Selby, director of public policies of the investment firm AJ Bell, said that although each pension savings in the workplace is different, the “initial success” to the powers of Scottish pensions of Trump’s rates “would certainly be in billions.”
Selby added: “It is very difficult to avoid short -term movements down when the world’s largest economy, which is connected with all other economies, does something like this.”
For long -term savers, the council is to stay quickly; However, market chaos could be a concern for Scottish with imminent retirement plans.
Selby said: “It is worth remembering that most people remain inverted when they access their pension, so retirement is less a fixed point in time than it used to be.”
“But it is definitely worrisome if you have maintained an exhibition of high equity and is planning to buy an annuity shortly, so people who plan to do that should not completely invest in actions.
“Some can be found in this position, in which case it falls on the value of their background leaves them in a potentially difficult position.”
His advice: “or hang tight and expect markets to recover or potentially delay retirement.”
The markets have recovered slightly since Trump’s reversal in tariffs on Wednesday, where he reduced import rates to 10 percent for all countries, except China, after the main nerves of the US bond market.
However, pension values together with the broader stock market have not yet recovered completely amid fears of greater financial chaos, particularly as a commercial war in the United States and China increases.
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