Is my Virgin pension doing okay?

kissmekate_2

Hi

Sorry to be a bit dim but I cant find a comparison of stakeholder pensions in the newspaper so I cant work out if my Virgin stakeholder pension is doing okay

can anyone point me in the right direction?
Thanks

dunstonh

Virgin offer a couple of funds. Which are you in?

kissmekate_2

Hi DD

Used to be called the Virgin personal pension now called Virgin stakeholder pension. Cant see anymore info in my files

regards
Kissmekate

Darryl

Kate

The Virgin Stakeholder pension invests, by default, into the Virgin Pension Growth Fund, which invests in the Virgin UK Index Tracking Trust.

Basically, this means if you haven't asked Virgin to direct your pension contributions anywhere else, they'll invest it in their UK ftse 100 index tracking fund.

So, the performance of your pension will be roughly the same as the performance of the FTSE 100 index, less the 1% annual charge they apply.

You can review the performance of this fund by visiting the Financial Times website, here:

http://mwprices.ft.com/custom/ftfundcenter-com/html-fundsTearsheet.asp?symb=F1%3AV7PG

If you phone Virgin, they will give you an up to date valuation of your pension, and should also send you statements showing you how many 'units' of the fund you have invested in.

This will tell you the value of your pension, versus how much you have paid in. And on this basis you can judge (to an extent) if it is performaning well enough for you.

On the FT website, you can compare the performance of the Virgin Pension Growth fund, against other funds, or indexes such as the FTSE 100, 250, Nasdaq, etc.

By comparing against these indexes you can determine how well your pension fund is performing, relative to other sectors of industry/economies.

For example, compare your Virgin fund to the FTSE 250 index (the index of the UKs 250 medium size companies listed on the stock exchange, compared to the top 100 companies, i.e. the FTSE 100).

Is your fund still a good performer? Maybe, but the answer depends upon your aim (amount you want to save/accumulate), attitude to risk, and time left until you retire/want to retire.

I, for example, have invested in a HSBC FTSE 250 index tracking fund, which has a 0.75% annual charge, through a discount broker (Hargreaves Lansdown). Is this better than your Virgin fund? Well it is for me, but maybe it isn't for you. FTSE 250 companies are considered risker investments than FTSE 100 (according to most advisers/commenters).
However, I have 30+ years until I retire, and I'm willing to take a certain amount of risk with my pension investment (I also invest in China and Eastern European funds). Would you do the same?

These are the kind of questions/things to consider when you are reviewing the performance of your pension(s). But first base must be to get a valuation and statement from Virgin.

Hope this helps (rather than confuses)

Darryl.

kissmekate_2

Wow Darryl

Kisses to you for all the info. Thanks for taking the time to make it clear it is really appreciated!

will go and have a big think about it all...over a steamy hot choc (it's brain food and thats my excuse)


kind regards
Kissmekate

Darryl

Wow Darryl

Aw... that's what all the ladies say to me... ::)

Enjoy the hot chocolate.

Darryl.