Another one for the financial guru's, if you please?
23 January 2007, 12:22 AM
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Another one for the financial guru's, if you please?
Hi,
Lost faith in the stock market a few years ago as lost a few quid in the nineties or thereabouts (Blotted from memory!) and decided that property was a much better bet.
Anyway, was looking over an old pension I had from a firm I left in 2001, which had remained untouched since then. The pension was with Scottish Equitable and I had simply stopped paying into it when I left that employer.
I wasn't expecting an awful lot from it and was in fact looking to see if I could transfer it into my current scheme.
When I spoke to them they told me it had in fact grown threefold in six years! I was, and still am, fairly amazed by this.
Are any of you pension experts out there surprised by this? Have you seen similar growth in pension scheme's?
It has been so long I can't even remember which funds are involved, but asked them to put everything in writing to me as I may be not only keeping that scheme open but transferring all I have into it!!
Any sensible views welcome.
Asif
Lost faith in the stock market a few years ago as lost a few quid in the nineties or thereabouts (Blotted from memory!) and decided that property was a much better bet.
Anyway, was looking over an old pension I had from a firm I left in 2001, which had remained untouched since then. The pension was with Scottish Equitable and I had simply stopped paying into it when I left that employer.
I wasn't expecting an awful lot from it and was in fact looking to see if I could transfer it into my current scheme.
When I spoke to them they told me it had in fact grown threefold in six years! I was, and still am, fairly amazed by this.
Are any of you pension experts out there surprised by this? Have you seen similar growth in pension scheme's?
It has been so long I can't even remember which funds are involved, but asked them to put everything in writing to me as I may be not only keeping that scheme open but transferring all I have into it!!
Any sensible views welcome.
Asif
23 January 2007, 12:35 AM
#2
Hi,
Lost faith in the stock market a few years ago as lost a few quid in the nineties or thereabouts (Blotted from memory!) and decided that property was a much better bet.
Anyway, was looking over an old pension I had from a firm I left in 2001, which had remained untouched since then. The pension was with Scottish Equitable and I had simply stopped paying into it when I left that employer.
I wasn't expecting an awful lot from it and was in fact looking to see if I could transfer it into my current scheme.
When I spoke to them they told me it had in fact grown threefold in six years! I was, and still am, fairly amazed by this.
Are any of you pension experts out there surprised by this? Have you seen similar growth in pension scheme's?
It has been so long I can't even remember which funds are involved, but asked them to put everything in writing to me as I may be not only keeping that scheme open but transferring all I have into it!!
Any sensible views welcome.
Asif
Lost faith in the stock market a few years ago as lost a few quid in the nineties or thereabouts (Blotted from memory!) and decided that property was a much better bet.
Anyway, was looking over an old pension I had from a firm I left in 2001, which had remained untouched since then. The pension was with Scottish Equitable and I had simply stopped paying into it when I left that employer.
I wasn't expecting an awful lot from it and was in fact looking to see if I could transfer it into my current scheme.
When I spoke to them they told me it had in fact grown threefold in six years! I was, and still am, fairly amazed by this.
Are any of you pension experts out there surprised by this? Have you seen similar growth in pension scheme's?
It has been so long I can't even remember which funds are involved, but asked them to put everything in writing to me as I may be not only keeping that scheme open but transferring all I have into it!!
Any sensible views welcome.
Asif
23 January 2007, 09:40 AM
#3
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Hi,
Lost faith in the stock market a few years ago as lost a few quid in the nineties or thereabouts (Blotted from memory!) and decided that property was a much better bet.
Anyway, was looking over an old pension I had from a firm I left in 2001, which had remained untouched since then. The pension was with Scottish Equitable and I had simply stopped paying into it when I left that employer.
I wasn't expecting an awful lot from it and was in fact looking to see if I could transfer it into my current scheme.
When I spoke to them they told me it had in fact grown threefold in six years! I was, and still am, fairly amazed by this.
Are any of you pension experts out there surprised by this? Have you seen similar growth in pension scheme's?
It has been so long I can't even remember which funds are involved, but asked them to put everything in writing to me as I may be not only keeping that scheme open but transferring all I have into it!!
Any sensible views welcome.
Asif
Lost faith in the stock market a few years ago as lost a few quid in the nineties or thereabouts (Blotted from memory!) and decided that property was a much better bet.
Anyway, was looking over an old pension I had from a firm I left in 2001, which had remained untouched since then. The pension was with Scottish Equitable and I had simply stopped paying into it when I left that employer.
I wasn't expecting an awful lot from it and was in fact looking to see if I could transfer it into my current scheme.
When I spoke to them they told me it had in fact grown threefold in six years! I was, and still am, fairly amazed by this.
Are any of you pension experts out there surprised by this? Have you seen similar growth in pension scheme's?
It has been so long I can't even remember which funds are involved, but asked them to put everything in writing to me as I may be not only keeping that scheme open but transferring all I have into it!!
Any sensible views welcome.
Asif
The funds will give an indication of why your fund has grown.
(although past performance isn't a guide to future performance
)Current and transfer values might be different as the TV takes into account any exit charges that may exist.
Once you have all that find a decent IFA who should be able to advise you further.
23 January 2007, 09:45 AM
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That would probably be a bad idea. The general idea is buy low, sell high. You're talking about buying high.
24 January 2007, 11:42 AM
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24 January 2007, 11:45 AM
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You need to get proper current and transfer values and what funds your currently invested in.
The funds will give an indication of why your fund has grown.
(although past performance isn't a guide to future performance )
Current and transfer values might be different as the TV takes into account any exit charges that may exist.
Once you have all that find a decent IFA who should be able to advise you further.
The funds will give an indication of why your fund has grown.
(although past performance isn't a guide to future performance
)Current and transfer values might be different as the TV takes into account any exit charges that may exist.
Once you have all that find a decent IFA who should be able to advise you further.
Hopefully paperwork should clarify matters when it comes. It is supposed to be one of those 'transferable' pensions, so hopefully no heavy fees etc.
IIRC there were some 'high risk' type funds involved, but don't ask me which ones for now. Will let you know when I do.
Next step is to find that decent IFA.
Asif
24 January 2007, 11:47 AM
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