Why can't I take my PPP and invest it myself in gold for my own pension?

Curtis111

I'm 50. . haven't been able to afford to pay into mp PPP for 15 years after a disabling accident so can't actually see my £50k pension pot growing much if at all. In fact the way things are going at the moment. . it'll shrink ! :mad:

Can I run my pension myself. . :j . if I took the £50k bought gold tomorrow. . in ten years time at retirement of 60. . it'd be worth a tad more than my pension provider could make for me I'm sure.

If I retired at 65 it'd be worth more than that. . . :T

Can I do this?

MikeJones_2

Hi Curtis111,

Curtis111 wrote: »

I'm 50. . haven't been able to afford to pay into mp PPP for 15 years after a disabling accident so can't actually see my £50k pension pot growing much if at all.

Why isn't it growing? In what funds is it invested? Have you regularly reviewed it's performance and if not, why?

Curtis111 wrote: »

Can I run my pension myself. . . if I took the £50k bought gold tomorrow. . in ten years time at retirement of 60. . it'd be worth a tad more than my pension provider could make for me I'm sure.

With that kind of 'foresight', don't you think everyone would. Gold is a commodity and as such is subject to market forces, demand (and lack of) and speculation - just like stocks and shares. There are no guarantees on commodities.

Curtis111 wrote: »

If I retired at 65 it'd be worth more than that. . .

Speculative.

Curtis111 wrote: »

Can I do this?

Modern day pension policies tend to be much more flexible, and many have significant choices of funds from which to choose/split/hedge. So, look at what you've got first and foremost - learn about it, understand its strengths and weaknesses and then look at the alternatives.

Talking about your retirement provisions, expectations and circumstances with an IFA would probably be time well invested. A good IFA will look at YOUR situation and make recommendations accordingly.

All the best.

Mike Jones

I work in the field of Pension Education and Pension Guidance in the UK. I am a current member of the Specialist Pensions Forum as well as being a Voluntary Adviser for The Pensions Advisory Service. I work with scheme members, employers, trustees, scheme administrators and advisers on most things to do with employer sponsored pension schemes. The views expressed by me in this thread are my personal opinions. You should seek professional advice from an appropriately experienced and qualified adviser. I am not an IFA.

dunstonh

Can I run my pension myself. . :j . if I took the £50k bought gold tomorrow. . in ten years time at retirement of 60. . it'd be worth a tad more than my pension provider could make for me I'm sure.

The Govt has the opinion that consumers need protecting from making speculative decisions which could be far more damaging than using conventional options.

purch

Can I do this?

It depends on what your current Pension is, but it might be possible to transfer it into a SIPP wrapper and then you can DIY the fund.

Holding Gold Bullion would be subject to a prohibitive Tax penalty, but you have the wide universe of alternative ways to invest in Gold.

Talking about your retirement provisions, expectations and circumstances with an IFA would probably be time well invested. A good IFA will look at YOUR situation and make recommendations accordingly

Sounds like the best advice to me.