There has been a severe blow to ISAs and shares if they are in bond funds as they are now being sold as cautious, safe investments. The ones invested in UK gilts fell by 12% within 2 days of Kwasi Kwarteng’s budget. Normally pension funds are steadier than the stock (equity) market, as they have a mix of shares, bonds and property. You have little to worry about if you have a final salary-style pension, where what you get is related to how much you earn. But they are mostly limited to the public sector now. This is almost always a sensible thing to do if you have spare cash, as you get 20-40% tax relief. Your contributions today will be buying shares much more cheaply than a year ago.
Will things look up in the near future?