Soldato
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I'm on the Nest Sharia (Islamic) fund which has given me a good return this last couple of years. It's consistently outperformed the other funds over the last 5 years
Pension fund performance - do you monitor yours, how is it doing, do you actively change it?
- Thread starter danlightbulb
- Start date
Why do you say that? Care to expand?
I meant sipp/s&s ISA/Lisa etc. As in there is no reason to not have a pension plan outside of your workplace pension system.
The Islamic funds usually have a higher exposure to US big tech that's why they've done so well recently.
Yeah why though? No reason not to have one in addition to a workplace one, or no reason not to have one at all? In either case, why do you feel that way? You can't just roll that grenade in without explanation. I could say there is no reason to have one at all and equally not explain why. Since this thread is about helping people understand pensions better I feel it would be beneficial to justify that comment so people can learn.
if your work place pension schemes allow you to invest in the way you want.. then IMHO it's best to keep it simple and have it in one place.
obviously if you leave a work place and want to move your old pension into a SIPP rather than your new work place, then it's upto you.
SIPPs are only useful if your workplace pension doesn't do what you need.
S&S ISA and LISAs are completely different as they are post tax.
obviously if you leave a work place and want to move your old pension into a SIPP rather than your new work place, then it's upto you.
SIPPs are only useful if your workplace pension doesn't do what you need.
S&S ISA and LISAs are completely different as they are post tax.
I'm on the nest sharia workplace pension.
Nest recently sent out emails to everyone on their sharia fund to advise them they were derisking and moving 30% of the fund into bonds.
So expect a future disconnect from how it performance matches the stockmarket.
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Soldato
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Damn it, you can't even take money out of nest without closing the account and moving the whole lot. What a farce
Soldato
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No, sadly not. I was a bit disappointed when our company announced they were going to use nest as the pension provider.
Well it all depends really doesn't it, if your workplace doesn't allow you to put in as much as you can then you should seek alternative methods to save for the future.
Soldato
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Yea returns will decrease but it will still be their #1 performing fund
So i guess either do nothing or,
Stop contribution
Transfer to SIPP
Buy EQQQ
Re-start contributions
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To what age have people figured that they will live to?
I know there's a bit of "no point saving now as I might drop dead before retirement" talk..
But there's no point of having a massive pension pot, if you don't think you wil cash it in on time before you drop without facing tax penalties.
Not that I'm anywhere near retirement yet, but I do plan to coast to the line so I'm putting in as much as I can now to get the reduction in taxes and kinda knowing that I will be putting less in the future. So I can withdraw it at a lower tax rate during retirement, but if I don't have the time to withdraw it all or if I buy an annuity till I'm a 100 but think I'll drop in my late 80s, then it's a waste of money.
Has anyone thought about the spending/withdrawing side of their pension?
I know there's a bit of "no point saving now as I might drop dead before retirement" talk..
But there's no point of having a massive pension pot, if you don't think you wil cash it in on time before you drop without facing tax penalties.
Not that I'm anywhere near retirement yet, but I do plan to coast to the line so I'm putting in as much as I can now to get the reduction in taxes and kinda knowing that I will be putting less in the future. So I can withdraw it at a lower tax rate during retirement, but if I don't have the time to withdraw it all or if I buy an annuity till I'm a 100 but think I'll drop in my late 80s, then it's a waste of money.
Has anyone thought about the spending/withdrawing side of their pension?
Deleted User 298457
Deleted User 298457
This is the dumbest thing I ever hear people talk about. It made people I know opt out of their pension in the early years and now I lol at them in their later years. Even with average luck you are going to be 82
I have no intention of living beyond 80 at the very latest, and even that sounds horrific. My wife passed away at 54. Roll the dice.
The average age that males from my dad's side of the family pass away around 85, my mum's side is a bit more a mystery but she passed away at 86.
I probably get a clearer idea of my life expectancy with my brothers, theirs quite an age gap between myself and them but I think when it comes to planning my pension, I'm looking at 90.
Soldato
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Pension calculator tells you what to expect, statistically:
Life expectancy calculator - Office for National Statistics
Enter your age and sex in our calculator to find out your life expectancy, and the likelihood of you living to be 100 years old.
www.ons.gov.uk
It also tells you what ages you have a 25% chance of living until, and 10% chance of living until. So it's a balancing act to have enough for what you expect, and a bit of contingency in case you live longer. You can estimate where you are vs the average based on knowing your own risk factors.
It's still guesswork though really...
You dont know when you'll die... simple. People who say they wont make 80 etc are talking nonsense.
One reason why some form of index linked lifetime payment like an annuity to cover your basic expenses in retirement is well worth considering.
One reason why some form of index linked lifetime payment like an annuity to cover your basic expenses in retirement is well worth considering.
Soldato
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Given my teenage and 20s were a total party fest. I'll be hoping to cark it by 75 tbh
My annuity is the state pension, my private pension is the fun stuff. Not one person in my family has made it to 80.