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  • FIRST POST
    • fuzzy139
    • By fuzzy139 3rd Dec 17, 12:28 PM
    • 22Posts
    • 2Thanks
    fuzzy139
    A pension pot found me :)
    • #1
    • 3rd Dec 17, 12:28 PM
    A pension pot found me :) 3rd Dec 17 at 12:28 PM
    Hi all, A long lost , unknown pension pot has surfaced , after i had auto enrolled in the work offering through Aegeon. It comes from a job I had in 1989 only for a year ! , didnt even know I paid into a pension at the time. Anyway roll on 28 years ! When accessing my online stakeholders pension there was another pension listed. Didnt think anything about it until I get a yearly statement come through, and it shows a pot of £53000 ! quite chuffed with my investment LOL
    Now the question is what should I do with it, no money going in to it , but charges are coming out , looks like 0.75 % yearly , but no paperwork to back that up , just my calculator.....I have another pension pot with Royal London , which I amalgamted some old pensions that I knew about last year , should I put the new one in that pot ?, Could I put it into my stakeholder pension ? leave alone ? take 25% and have a party ?
    Thanks in advance
    Shaun
Page 1
    • Alexland
    • By Alexland 3rd Dec 17, 1:19 PM
    • 787 Posts
    • 487 Thanks
    Alexland
    • #2
    • 3rd Dec 17, 1:19 PM
    • #2
    • 3rd Dec 17, 1:19 PM
    What a nice unexpected surprise. For one year of regular contributions to grow to £53k is again a nice result.

    What you do with it depends on your overall situation but the fees for the account value are a bit high - on the upper end of reasonable.

    Ask the providers to tell you more about the underlying investments and fees of this and your other pensions. It might be worth doing some more consolidation but beware having too much of your money in a single provider. Once you get into having six digit pension pots your total fees for a well diversified mixed asset investment should be around 0.5% or less.

    I wouldn't access it just because you found it but would certainly have a small celebration and consider if this will affect your planned retirement date.

    Alex
    Last edited by Alexland; 03-12-2017 at 1:35 PM.
    • Linton
    • By Linton 3rd Dec 17, 4:40 PM
    • 8,637 Posts
    • 8,612 Thanks
    Linton
    • #3
    • 3rd Dec 17, 4:40 PM
    • #3
    • 3rd Dec 17, 4:40 PM
    You need to find out the details. Pensions from the 1980's may have what would now be seen as very generous guarantees regarding annual returns and/or annuity rates. If this applies to your pension you probably should leave it where it is until you reach the defined pension age.
    • fuzzy139
    • By fuzzy139 4th Dec 17, 12:29 PM
    • 22 Posts
    • 2 Thanks
    fuzzy139
    • #4
    • 4th Dec 17, 12:29 PM
    • #4
    • 4th Dec 17, 12:29 PM
    Thanks , I will ask for some scheme details , and check.
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