My sister has had quite a few jobs in the past all with different pensions, she has asked me to work with her on consolidating them and changing them investments, is there a way we can find all her pensions? She is clueless on this type of stuff.
Pension fund performance - do you monitor yours, how is it doing, do you actively change it?
- Thread starter danlightbulb
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Match +10 is nice. I'd be maxing that out.Just realised my employer does a match plus 10 scheme for contributions.
So if you contribute 2% they do 12% = 14%
I think this is one of the more generous ones?
I think it is capped at 15% total though.
I only get 3% employer atm, I contribute 10% to get it to a decent figure.
Soldato
Soldato
I’ve just checked mine and apparently it’s made 11% since 2017. Which is pretty **** poor by anyone’s standards.
I was considering paying in a lump sum to use up some of my unused allowance. But I’m not so sure now.
I was considering paying in a lump sum to use up some of my unused allowance. But I’m not so sure now.
Soldato
What is it invested in and what are the fees?
Soldato
Just realised my employer does a match plus 10 scheme for contributions.
So if you contribute 2% they do 12% = 14%
I think this is one of the more generous ones?
I think it is capped at 15% total though.
I think mines only limited only by the amount I can afford to put in.. I think it’s 80% or 60k whichever is the lower.
Work puts in 10%, I currently put in 12% then they top up 13.8% of what I put in.. which is the NI rebate that they get back from the government.
I worked out that 12% is close enough to the break point where if I was to put anymore in, I’ll end up putting more than my company does into the pension pot.
It also drops me down a tax bracket with even head room for dividends and side incomes without going back into the higher bracket.
Soldato
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Soldato
It's very safe that's for sure - that's why the growth has been moderate.
If you are in your 50's and looking to retire at state pension age OR if you are quite risk averse this is probably appropriate I think - but I am not a financial advisor.
Soldato
I’m still a few years away from 50. But I would like to retire early. Maybe I’ll move some of the funds to something more spicy.
Soldato
Simple global index fund will give you a pretty low risk, good growth option. You're invested in basically every company listed on every stock exchange in the world.
Soldato
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I've moved most of mine into an S&P 500 tracker, I managed to do it when there was a dip so it's up like 20%+ in the last 18 months
Be careful. "Consolidating" feels good from a cathartic point of view but often isn't the right answer. Do your research on what each individual pension provides.
I've only had a few workplace pensions in the past 25 years - but there have been a lot of pension scheme transfers going on behind the scenes. It's even harder when you've had TUPE events, and a mix or change of defined benefit/contribution schemes going on.
The sooner the pension scheme administrators get the pensions dashboard up and running, the better.
I want to just put in my personal data & NI number and see EVERYTHING in one place, rather than trying to track everything on my own spreadsheet - I'm really not sure how accurate it is, and I feel there are gaps.
The sooner the pension scheme administrators get the pensions dashboard up and running, the better.
I want to just put in my personal data & NI number and see EVERYTHING in one place, rather than trying to track everything on my own spreadsheet - I'm really not sure how accurate it is, and I feel there are gaps.
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I'm finally dealing with a Financial Advisor, to manage my pensions, as I've realised I don't pay enough attention except for the odd moment I remember, or news article, and I only have a few years before I want to retire (I mean, I'd like to retire at 55 in a few years, but I also want to build a decent pension pot).
Yes, they will charge an amount, but it's one of those realisations that having someone actively manage it, and communicate about it, going into and through retirement, is likely much better than occasional thoughts and then following the best social media advice (especially considering how all of the youtube 'experts' disagree with each other).
Looking across all of my pensions from various jobs, they're already 'managed' and taking fees, and all performing similarly, so time to consolidate.
Yes, they will charge an amount, but it's one of those realisations that having someone actively manage it, and communicate about it, going into and through retirement, is likely much better than occasional thoughts and then following the best social media advice (especially considering how all of the youtube 'experts' disagree with each other).
Looking across all of my pensions from various jobs, they're already 'managed' and taking fees, and all performing similarly, so time to consolidate.
Think I've just found out my pension comes out after tax. So I've been missing out on the 40pc band claim.
I'm not totally sure. I will message HR.
But in aviva portal there is a "you get in tax relief" section that is 20pc of my contribution
I'm not totally sure. I will message HR.
But in aviva portal there is a "you get in tax relief" section that is 20pc of my contribution
If you are on salary sacrifice then the pension payment is taken pre-tax.
Na you'd deffo spot that. Can't you just add up the numbers and see?