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Check your Pension NOW........PLEASE
[THREAD
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I have wanted to write this for a while, I believe it is important.
IMPORTANT
For those of you who are in a pension scheme read on...
For those of you not in a scheme join one - google the tax benefits...!
IMPORTANT
For those of you who are in a pension scheme read on...
For those of you not in a scheme join one - google the tax benefits...!
I have been contributing to a pension scheme for a while now (6 years in this job) 
Been contributing all that time - always thinking:
"Yeah, I'll check that sometime..."
"I've got ages until I retire..."
Been contributing all that time - always thinking:
"Yeah, I'll check that sometime..."
"I've got ages until I retire..."
I can manage my pension online, but thought:
I can't find my Welcome Email
Not sure of my plan number
Don't know my employers PAYE ref
AND CRUCIALLY
It will do alright, I'll look later.....
I can't find my Welcome EmailNot sure of my plan numberDon't know my employers PAYE refAND CRUCIALLY
It will do alright, I'll look later.....
So, I get logged on and.......
My current fund's 5 year growth has been.....
(drumroll)
........7.50% Cumulative
5 years.......7.5% cumulative growth.....
and then 
and then 
(nearly)
I couldn't believe how LOW it was!!!
My current fund's 5 year growth has been.....
(drumroll)........7.50% Cumulative
5 years.......7.5% cumulative growth.....
and then and then (nearly)I couldn't believe how LOW it was!!!
So I started again
moved out of the ultra cautious low growth DEFAULT option
moved in to other markets - US, Asia, Europe
moved it in to funds I wanted to buy, not the default
IT WAS JUST LIKE BUYING AN ETF
moved out of the ultra cautious low growth DEFAULT optionmoved in to other markets - US, Asia, Europemoved it in to funds I wanted to buy, not the defaultIT WAS JUST LIKE BUYING AN ETF
I am 40 now and still have some time to make some decent gains but I urge you to check yours.
Instead of just letting it drift
Most pension providers have apps/portals where you can manage them.
Manage your pension like your portfolio - DO SOME RESEARCH
Instead of just letting it drift
Most pension providers have apps/portals where you can manage them.
Manage your pension like your portfolio - DO SOME RESEARCH
DONT LET IT DRIFT 
IMPORTANT - this is my experience only. PLEASE DO YOUR OWN RESEARCH
IMPORTANT - this is my experience only. PLEASE DO YOUR OWN RESEARCH
