Pension Growth last 12 months (!)

mjheathcote

Centenary Club
Messages
9,033
Just received my main pension statement this morning, and it's 2% down on last year.
I'm not surprised, but curious if this is "average".
I'm not looking for any pension advise, just either, is that all, or, that's not very good.
Thanks.
 

midlifecrisis

Member
Messages
16,102
One of dormant pensions is down 9.7%. which is rubbish, another is up 2.5%... hence why I'm getting an IFA in...
 

redsonnylee

Member
Messages
1,540
My pot has been down 2% since the pandemic and not recovered, in 2019 I merged all of them to save on charges so it could have been worse.
 

safrane

Member
Messages
16,748
I was doing some financial planning last week and noted I'm getting very close to hitting the Life Time Allowance by the time I aim to retire.

Hoping they will put it up soon or I may have to stop putting money in.
 

Ewan

Member
Messages
6,757
I don’t think it still exists, but some years ago the Govn gave £500 to every child at their birth, to be invested in a Child Trust Fund chosen by the parents. It could then not be touched until the child became 18 (though parents, friends etc could contribute more, tax free, over the intervening years.

When this happened for our second daughter, we put it into the UK’s most popular CTF. She is now 13.

So, how have those jolly clever City whizzes done with this £500 over 13 years? What have they turned it in to?

I checked yesterday, and the answer is £523.

I imagine a child’s Post Office savings account (if such still exists!) would have done better.

Though of course, that wouldn’t have earned our famed financial services industry their completely unjustifiable fees...

Where’s the rant thread!
 

Ewan

Member
Messages
6,757
I remember reading a few years ago about the pension management fees charged in the UK compared with those charged in the Netherlands. No wonder so many people manage their own affairs these days, maybe investing in buy-to-let properties, classic cars, fine wine, art, etc.
 

Oneball

Member
Messages
11,075
I don’t think it still exists, but some years ago the Govn gave £500 to every child at their birth, to be invested in a Child Trust Fund chosen by the parents. It could then not be touched until the child became 18 (though parents, friends etc could contribute more, tax free, over the intervening years.

When this happened for our second daughter, we put it into the UK’s most popular CTF. She is now 13.

So, how have those jolly clever City whizzes done with this £500 over 13 years? What have they turned it in to?

I checked yesterday, and the answer is £523.

I imagine a child’s Post Office savings account (if such still exists!) would have done better.

Though of course, that wouldn’t have earned our famed financial services industry their completely unjustifiable fees...

Where’s the rant thread!

In there first ;)
 

Gooner

Member
Messages
443
Though the price of gold today isn’t so far different to 10 years ago! (Lots of up and downs in between for traders to win/lose on, but over a 10 year fix, not a great investment).

I say, while ducking, waiting for Wattie to correct me!

Gold is priced in $, so if you are a £ sterling investor the price per oz has increased over 40% in the last 10 years.
 
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Scaf

Member
Messages
6,512
I was doing some financial planning last week and noted I'm getting very close to hitting the Life Time Allowance by the time I aim to retire.

Hoping they will put it up soon or I may have to stop putting money in.
The trouble with the lifetime allowance is that even once you have reached it, you still won’t have enough for a comfortable retirement…….. it’s just an excuse to start taxing people for being prudent and planning ahead.
 

mjheathcote

Centenary Club
Messages
9,033
The trouble with the lifetime allowance is that even once you have reached it, you still won’t have enough for a comfortable retirement…….. it’s just an excuse to start taxing people for being prudent and planning ahead.
You won't have a comfortable retirement with a million to draw from you say?
I guess people have different expectation of what is comfortable!
 

Ewan

Member
Messages
6,757
Gold is priced in $, so if you are a £ sterling investor the price per oz has increased over 40% in the last 10 years.
But if the actual price of gold hasn’t changed (much), then surely the 40% growth has been from currency trading/investing, rather than the metal investment itself?

Im also surprised to learn that the GBP has grown 40% against the USD over the last 10 years. If someone had asked me, I’d have guessed it had lost value.

It’s a very good job that I don’t earn my living out of anything to do with investing in gold or currency!!! I know next to nowt about these things!

But get me on copper, and now we’re talking.
 

RodTungsten

Member
Messages
562
Well both our DB schemes (rare these days) are paying plus state pots. Indexing not brilliant so inflation a concern - might have to sell the Spyder (not).

Was I the only one to do a double-take on glancing at the title?
 

safrane

Member
Messages
16,748
The trouble with the lifetime allowance is that even once you have reached it, you still won’t have enough for a comfortable retirement…….. it’s just an excuse to start taxing people for being prudent and planning ahead.
With what we have in the bank, no kids and 2 LTA pension pots (Indext linked due to being in both the NHS and Civil Service pension schemes) a couple of houses... we should be OK and not need a state pension.
 

Wattie

Member
Messages
8,640
But if the actual price of gold hasn’t changed (much), then surely the 40% growth has been from currency trading/investing, rather than the metal investment itself?

Im also surprised to learn that the GBP has grown 40% against the USD over the last 10 years. If someone had asked me, I’d have guessed it had lost value.

It’s a very good job that I don’t earn my living out of anything to do with investing in gold or currency!!! I know next to nowt about these things!

But get me on copper, and now we’re talking.
109411
 

HenrysDad

Member
Messages
443
Years ago my accountant applied for enhanced protection for me. He reckoned that the lifetime allowance was basically a tax grab. I am 6k better off per year because of that advice. I bought him a very nice case of wine. Pensions are a long term investment so be patient and seek good advice.
 

philw696

Member
Messages
25,118
Having been trying to sort out my pension for 12 years after a dodgy advisor who I trusted as he sorted my mortgages for the rentals I had in the UK but shouldn't have gone anywhere near my pension but it's easy to get conned when he tells you he can make it worth more.
Long story but after being turned down 3 times by the FSCS they have just awarded me the maximum compensation.
Sadly that falls short massively relative to the fund I had.
The individual has evaded conviction and didn't even turn up to Court really shows you what a mess a lot of this is.
Still onwards and upwards.