Pension fund performance - do you monitor yours, how is it doing, do you actively change it?

Liquid_Entity said:
Do people post their figures here or just say it's doing well?
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Some people do, but it's a dangerous game when people start talking about what funds are doing well for them. Because there's no guarantee that it will do well for you, and that person may have a completely different strategy to you. Generally you can't go wrong with an all world fund but the closer to retirement you get you want to be more cautious in case of any global financial meltdowns. Always best to speak to an IFA.

I'm 15+ years away from retirement so I'm heavily into the stock market, my fund gained ~7% year on year since 2019.
 
I've got a few decades yet. Only found out today id not added any beneficiaries on my pension. Currently mine are spread across a few high risk, medium and low. Seems to be doing well at present
 
Roughly what sort of % is everyone doing? I've decided that with me turning 28 this year, I really ought to start considering what my pension pot looks like as I have absolutely no inheritance to rely on.

I did some numbers and worked out that really I am nowhere near where I need to be.

I'm also of the belief that by the time I reach state pension age, if there is such a thing, there probably wont be much of a state pension.

I do have a few other pension angles, such as I do have some shares of sorts in a company I'm actively involved in which will provide a lump-sum almost tax free at maturity which will be before the age of 40, but would like a good pension that is working away in the background.
 
Hyburnate said:
Roughly what sort of % is everyone doing? I've decided that with me turning 28 this year, I really ought to start considering what my pension pot looks like as I have absolutely no inheritance to rely on.

I did some numbers and worked out that really I am nowhere near where I need to be.

I'm also of the belief that by the time I reach state pension age, if there is such a thing, there probably wont be much of a state pension.

I do have a few other pension angles, such as I do have some shares of sorts in a company I'm actively involved in which will provide a lump-sum almost tax free at maturity which will be before the age of 40, but would like a good pension that is working away in the background.
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I put 10% in, can't recall what the company put in, it might be 10% too. The earlier you start filling it up the easier it is as it is later on when it all compounds that your pot fills up. I started late, wish I'd known this sooner, I'd have more options to retire early. Ah well.
 
Gixer said:
I put 10% in, can't recall what the company put in, it might be 10% too. The earlier you start filling it up the easier it is as it is later on when it all compounds that your pot fills up. I started late, wish I'd known this sooner, I'd have more options to retire early. Ah well.
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Yeah that’s what I’m going to push to the business. I’m nearly 28, and with ENI increases it makes sense for the business as well.
 
So, I know nothing about pensions, so language may be a little off.

I have a work place pension (USS), 24 years in prob 10 years to retirement.

Today I discover I have 2 old work place pensions with transfer values of 30k and 20k. The 30k one seems to only offer an annuity of £390 pa at the mo, the 20k can be lump sum on retirement.

I will need to speak to an IFA to do anything with the 30k one as it's a little over 30k.

What questions should I be asking when I do speak to an IFA. What should I be thinking of doing with these pots?
 
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Your main problem imo will be getting an IFA to do anything with the 30k fund. I would want to transfer it into a SIPP so I had full control but yeah, good luck.
 
Hyburnate said:
Roughly what sort of % is everyone doing? I've decided that with me turning 28 this year, I really ought to start considering what my pension pot looks like as I have absolutely no inheritance to rely on.

I did some numbers and worked out that really I am nowhere near where I need to be.

I'm also of the belief that by the time I reach state pension age, if there is such a thing, there probably wont be much of a state pension.

I do have a few other pension angles, such as I do have some shares of sorts in a company I'm actively involved in which will provide a lump-sum almost tax free at maturity which will be before the age of 40, but would like a good pension that is working away in the background.
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As much as possible, definitely at least what your company matches as that's free money.

I put 9% and get matched at 18%. No reason not to have a sippy, s&s ISA if you can afford it too.
 
Begbie said:
As much as possible, definitely at least what your company matches as that's free money.

I put 9% and get matched at 18%. No reason not to have a sippy, s&s ISA if you can afford it too.
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We’ve got a S&S ISA but we’re coming towards the end of a renovation so money is only becoming a possibility again.

I need to have that negotiation as at the moment they will do nothing greater than the 5/3 split.

I’m part of an EMI group so can make money through options but ultimately want another stream as well.

I was hoping to get close to £600 a month in contributions combined which should be achievable, it’s all going to depend on what they’re happy to put in.

Is there any mileage in a Lifetime ISA for the 25% gains? I’m not sure if they do a S&S LISA?
 
throwaway4372 said:
This is broadly how I think of it:
12% to retire at 68
20% to retire at 57
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I’ll run some numbers and have the conversations around company contribution.

The current pot sits at north of 20k but not by much which I thought was scarily low but after some conversations with peers it’s a lot better than I was expecting.
 
Hyburnate said:
Roughly what sort of % is everyone doing? I've decided that with me turning 28 this year, I really ought to start considering what my pension pot looks like as I have absolutely no inheritance to rely on.

I did some numbers and worked out that really I am nowhere near where I need to be.

I'm also of the belief that by the time I reach state pension age, if there is such a thing, there probably wont be much of a state pension.

I do have a few other pension angles, such as I do have some shares of sorts in a company I'm actively involved in which will provide a lump-sum almost tax free at maturity which will be before the age of 40, but would like a good pension that is working away in the background.
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My nephew asked me this last week. His dad has been pushing him to put more into his pension, and was moaning about it the night before while I was trying to watch the football.

Honestly speaking to him, he was doing just fine.. he’s in his early 20s, has a montage for his own flat, hire purchase car and student loans to pay off. Personally I just said to him to try and add half of his percentage pay rise to his pension each year he gets a pay raise, that way he won’t really miss it. Each person situation is different, someone might only be dropping 2% but using their take home to invest in their own s&s isa, or they have debts which makes more sense to pay off first before speculating on the market.

The main thing is to do a budget, personally speaking… if you are not struggling to make ends meet 2-3 months per year, then you are over budgeting and should be able to afford to put a bit more into your pensions or savings..

@danlightbulb if you want me to try to explain why I don’t factor in future values in today’s asset values for bonds… drop us a PM.
 
firstborn said:
So, I know nothing about pensions, so language may be a little off.

I have a work place pension (USS), 24 years in prob 10 years to retirement.

Today I discover I have 2 old work place pensions with transfer values of 30k and 20k. The 30k one seems to only offer an annuity of £390 pa at the mo, the 20k can be lump sum on retirement.

I will need to speak to an IFA to do anything with the 30k one as it's a little over 30k.

What questions should I be asking when I do speak to an IFA. What should I be thinking of doing with these pots?
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You will need to confirm the types of the old work pension schemes.

If they are Defined Benefit (DB) schemes - leave them alone - nothing you can really do with them. You won't get an IFA to move them as they simply aren't cost effective to move.

If the 30k one is a Defined Contribution (DC) scheme - You could potentially switch it yourself.

However - the fact you mention you need to speak to an IFA suggests they are DB schemes - See above.

Due to the size of the fund, it's simply too small to get involved with. It's not cost effective for any IFA to offer advice on and also the regulator will always start from the point - Leave a DB scheme where it is, unless you have an immediate need for the money.... i.e retirement now.
 
firstborn said:
So, I know nothing about pensions, so language may be a little off.

I have a work place pension (USS), 24 years in prob 10 years to retirement.

Today I discover I have 2 old work place pensions with transfer values of 30k and 20k. The 30k one seems to only offer an annuity of £390 pa at the mo, the 20k can be lump sum on retirement.

I will need to speak to an IFA to do anything with the 30k one as it's a little over 30k.

What questions should I be asking when I do speak to an IFA. What should I be thinking of doing with these pots?
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My USS is a DB scheme and as far as I'm aware they only do DB scheme.
What you can do, is ask if both pots can be merged into one to by an annuity. It get's very messy when you are trying to merge a DB with a DC pension and by law you will need to seek IFA advice.

Personally what I'm planning to do, is merge my two DB pensions together at time of retirement and get an annuity, then use draw down on my DC pension. for the simple reason that I would like more of a known income during retirement.
If I do move to anther place that is offering a DB pension before I retire, I would want to move my pot away from USS as currently the scheme that I was paying into is in the red and is no longer active so no one is paying into it anymore. If I knew more about pensions at the time, I would have done it at my last place.
 
My workplace pension is with NEST (I have a private one as well) - Its currently on the "Retirement Date Fund" but was considering switching to the Higher Risk Fund (still over 20 years to go till retirement).... Has anyone else done this?
 
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