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  • FIRST POST
    • starkj
    • By starkj 4th Oct 17, 9:58 AM
    • 63Posts
    • 19Thanks
    starkj
    Nest Delay in buying units
    • #1
    • 4th Oct 17, 9:58 AM
    Nest Delay in buying units 4th Oct 17 at 9:58 AM
    From NEST:
    'When we receive contributions to your retirement pot
    we invest it by buying units in your fund. This doesn’t
    happen immediately. Normally it takes three to five
    working days before the money goes into a fund.
    That’s because it takes time to tell our investment
    people and for them to complete the transaction.'

    When I put money into my virgin pension, units are bought at the end of the trading day. Is there any genuine reason NEST drag their feet?
Page 1
    • JoeCrystal
    • By JoeCrystal 4th Oct 17, 11:01 AM
    • 1,277 Posts
    • 730 Thanks
    JoeCrystal
    • #2
    • 4th Oct 17, 11:01 AM
    • #2
    • 4th Oct 17, 11:01 AM
    What difference does few days delay make in decades long investments? It may be something to do with settlement dates or bank transfer or any of other reasons?
    • dunstonh
    • By dunstonh 4th Oct 17, 12:21 PM
    • 89,852 Posts
    • 55,456 Thanks
    dunstonh
    • #3
    • 4th Oct 17, 12:21 PM
    • #3
    • 4th Oct 17, 12:21 PM
    When I put money into my virgin pension, units are bought at the end of the trading day.
    Settlement period is usually +2 days. Even with Virgin.

    Some pension providers will pre-fund, others will not. Virgin is a damned expensive pension. I dont know if they prefund or not but at their charges they ought to. NEST is a budget provider. It is unlikely that they prefund.
    • starkj
    • By starkj 4th Oct 17, 12:22 PM
    • 63 Posts
    • 19 Thanks
    starkj
    • #4
    • 4th Oct 17, 12:22 PM
    • #4
    • 4th Oct 17, 12:22 PM
    The difference is that with Virgin I have a good idea of the price I am buying at. In the past with Virgin I have been able to choose the time to invest and have bought at 10p/20p per unit cheaper than previous months. A little bit of bad news can cause a temporary price drop but the price can the recover within a few days. This isn't the biggest problem in the world but I have probably 250 extra Virgin units just by watching the price. With NEST the cash goes straight out of my bank account, they keep hold of it and I assume benefit from this cash before investing. With electronic transfer of funds there can be no justification for days of delay.

    * Sorry I should have said with Virgin the price you buy at is the fund value at the end of the trading day.

    ** Any recomendations for cheaper tracker type pension than Virgin?
    Last edited by starkj; 04-10-2017 at 12:25 PM.
    • dunstonh
    • By dunstonh 4th Oct 17, 12:46 PM
    • 89,852 Posts
    • 55,456 Thanks
    dunstonh
    • #5
    • 4th Oct 17, 12:46 PM
    • #5
    • 4th Oct 17, 12:46 PM
    ** Any recomendations for cheaper tracker type pension than Virgin?
    Virtually all plans available today are cheaper.
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