RE: Off Topic14 Mar 2021 19:50
Yes, Tesco were plugging a hole, not enhancing.
Pensions, whilst necessary to provide some funds, for the general population they will provide a pittance on retirement.
Each time the stock market takes a hit, the pension companies throw the baby out with the bathwater and then chase as higher prices.
Your 15 years period covered the 2008 crash, covid crash and a drying up of dividends which many pension companies depend on for income.
Do the pension companies really care?
The answer is no, if markets rise they shims of the profits and add a paltry actuarial release to the plans. If the markets fall or crash they cut the valuations, the assumptions and the forecasts.
THEY STILL GET THEIR COMMISSIONS AND FEES THOUGH and the world goes on turning.
They are drowning in cash from automatic pensions contributions from employees just waiting to be allocated until they lose your money.
Add up what you and your employer have contributed. Look at the forecast retirement payout compared to your valuation and think how many years will it take to get your contrubions back.
And in many cases, the pension companies have been making high returns on your investments for maybe up to 40 years before they pay out a nominal amount.
I started taking mine out at 55 as I felt that the full capital in the bank, less the tax charge would at 2% interest give me more untouched than leaving it within the pension to pay out less in 10 years +. That is if they had not messed it up in that time. In the end, I invested well and have returns in excess of the pension conpanies offer.
Each person should make their own decision, but many die before getting back a decent portion of their own contributions.
The only winner is the pension company, who give you scraps.
GLA.
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