The Un-united Kingdom is fucked now

[Pat Mustard]

The millions whose pension pots have been devalued will see the millions return when the markets recover, you act like the market has never gone down before??

No they won't, because as a result of losing that money on the market wipe, the pension funds now no longer have the money to recover the losses.

The way market based pensions work is very reactive, when shares go up they buy after the rise starts, when shares go down they sell after the drop starts. Thus market based pensions tend not to be able to exploit gains properly and also tend to be overexposed to adverse market shocks. It happened in 2008, with most pension funds, even at this stage, being nowhere close to where they were before the banking crisis, and the same result will eventuate out of the recent shock to the market because of Brexit.