|
|
Post by MartinT on Apr 11, 2023 5:15:34 GMT
The warnings about getting a pension from a young age should be taken seriously. Their value is at a peak when you're middle-aged and on a high salary, with both yours and your employers' contributions at a high level.
With my pension from my current, and final, employer, its value is low and percentage of my total pot very low. I therefore considered it acceptable to go high risk with it and moved all the investments into Far East funds. It can't do much harm and may come good in the final 18 months.
|
|
|
|
Post by MikeMusic on Apr 11, 2023 9:28:50 GMT
I stashed a load away when I could in my 30s
Helped a lot being self employed
|
|
|
|
Post by julesd68 on Apr 11, 2023 10:17:48 GMT
China took an absolutely seismic pasting in the market during the pandemic and is yet to recover. Japan didn't fare as badly but still hasn't had the economic renaissance it so desperately needs. I do wonder whether Japan will ever come good - it has never treated me kindly.
|
|
|
|
Post by MartinT on Apr 11, 2023 11:49:41 GMT
I glanced at my Far East performance and saw +6% growth, not bad when pension fund management seems to be very conservative.
|
|
|
|
Post by julesd68 on Apr 11, 2023 15:22:10 GMT
|
|
|
|
Post by Slinger on Apr 11, 2023 15:26:55 GMT
Nothing to do with " you know what -the thing that begins with 'B' and ends wiith 'rexit,' that I probably shouldn't mention" obviously.  |
|
|
|
Post by MikeMusic on Apr 11, 2023 15:36:46 GMT
Could also be to do with having criminals running the country
|
|
|
|
Post by julesd68 on Apr 11, 2023 15:57:01 GMT
Exactly - it's a perfect storm of Brexit, pandemic mismanagement and Tory bllx.
|
|
|
|
Post by MartinT on Apr 13, 2023 12:31:42 GMT
I glanced at my Far East performance and saw +6% growth, not bad when pension fund management seems to be very conservative. Actually it's +7.5% so I'm not displeased. |
|
|
|
Post by Tim on Apr 13, 2023 13:24:12 GMT
Basically the UK is pretty much foooked for the rest of my lifetime, doubtful we'll be further ahead than we were 12 years ago before I'm done.
Tory *****
|
|
|
|
Post by julesd68 on Apr 13, 2023 14:09:06 GMT
I glanced at my Far East performance and saw +6% growth, not bad when pension fund management seems to be very conservative. Actually it's +7.5% so I'm not displeased. Over what timescale? |
|
|
|
Post by julesd68 on Apr 13, 2023 14:17:02 GMT
Basically the UK is pretty much foooked for the rest of my lifetime, doubtful we'll be further ahead than we were 12 years ago before I'm done. Tory ***** I'm not going to put any money into UK markets - I just can't see any encouraging signs right now or in the short term. |
|
|
|
Post by MartinT on Apr 13, 2023 14:20:06 GMT
3 years (the time I've been on this pension). |
|
|
|
Post by julesd68 on Apr 13, 2023 14:39:45 GMT
3 years (the time I've been on this pension). With what's happened in the markets over the past three or four years that is not to be sniffed at! I've found that India has been one of the *very* few bright spots for me. |
|
|
|
Post by MartinT on Apr 25, 2023 8:18:01 GMT
Two of my pensions are non Final Salary and require me to purchase an annuity from the pot. What an absolute minefield. Going through the paperwork and government advice site, I'm definitely going to need some FCA help on these ones. This is where declaring my health issues actually helps my case and will improve my income.
|
|
|
|
Post by Clive on Apr 25, 2023 8:23:35 GMT
Two of my pensions are non Final Salary and require me to purchase an annuity from the pot. What an absolute minefield. Going through the paperwork and government advice site, I'm definitely going to need some FCA help on these ones. This is where declaring my health issues actually helps my case and will improve my income. If you prefer to move those pots into a drawdown SIPP that should be possible but at least annuity rates have improved so could be viable now. |
|
|
|
Post by Clive on Apr 25, 2023 9:08:23 GMT
Thinking about this further during my dog walk…
There are a few pensions that guarantee enhanced annuity rates, these should give a good deal.
There are other pensions which feature GMP and other guarantees..possibly these need an annuity to deliver the promises.
If the pensions allow you to buy an annuity on the open market I would guess that moving and merging the pots into a SIPP should be an option. Whether it’s the better option is another matter.
This is info I’ve gleaned on my journey…for sure you need proper advice.
|
|
|
|
Post by MartinT on Apr 25, 2023 10:47:36 GMT
Thanks, Clive. Much to think about. I do prefer to keep my pensions separate (not wanting to trust my future to any single provider) but I will see what the FCA advisor says after a Teams call.
|
|
|
|
Post by MartinT on May 9, 2023 8:03:14 GMT
I am now being advised by an FCA regulated pension adviser and I'm glad I am as it would be easy to take a wrong turn with either a risky move or locking out any flexibility I might need. My basic position is that I can live on my combined final salary pensions, so I'm leaving them alone. I will then combine two previous auto-enrollment pension pots with my current one and create a draw-down account for when I need extra money, like holidays etc. That keeps the most of it invested.
It's a bit of a learning curve and far more complex than I had anticipated.
|
|
|
|
Post by Clive on May 9, 2023 8:27:30 GMT
That sounds like a comfortable situation, guaranteed income with top ups via drawdown.
|
|
