Lakshmi,
Well I sure don't know enough about Pholus to give you a decent answer really. Pholus is in my 12th so we can cry on each other shoulders!
With it conjunct Saturn in the 8th (I too have Saturn in the 8th - more mutual shoulder crying) I'd guess that you also are learning how to 'let go of' a lot of different things. Release and release and 'die well' many, many times and on many levels. Remember the connection to Neptune with Pholus? Don't forget to incorporate Neptunes energies somewhat into this too.
Chiron bridges between Saturn and Uranus
Pholus bridges between Saturn and Neptune
I'd guess you've had an exciting time learning a wide variety of things on the Astral plane. Both the light and the dark things. I think you too are learning about releasing emotional and astral body things (8th), learning how to take full responsibility (Saturn) for all the things you Create on both the physical level (Saturn) and also on the Unseen or non-physical levels (8th). All I can tell you about Pholus is to keep searching, like I am, for more information about this new archetypal energy and add that to this powerful mix, and look for Neptune's subtle infulences also.