pension advice please

whiteflag_3

jem16 wrote: »

I don't have any problem with you disagreeing with Dh. However you never really justify your reasons properly.

yes well i suppose im like Dh and I just say things that I know without the seeing need to justify them . I find it interesting when Dh says Skandia is one of the best pensions and nobody comes back and says "whys that Dh" I just assume people understand exactly what he means.

In this particular thread I have made crystal clear why I disagree from the outset , in my first post

On what basis? Simply not true in my opinion (btw my opinion is based on running cashflow models for both scenarios)

The annuity is a guaranteed amount for life. Other options may involve investing within an ISA which may still have a risk involved.

But if you read the thread we were both taking about whether to take the income or not , not whether its through annuity or drawdown.

For my part I don't feel I know enough - what he says sounds perfectly plausible and he usually gives enough info that I don't feel I need further clarification.

Well Ill just stick to specific cases, this thread for example and I didnt see where what he said was plausible. You obviously do.

I have asked you for further info, not to justify your comments, but because you didn't actually give any info.

With respect - in my very first post I said I have run the actual figures!

On what basis? Simply not true in my opinion (btw my opinion is based on running cashflow models for both scenarios)

Perhaps if you offered your alternative viewpoint in a fair and balanced way

on what basis? Simply not true in my opinion (btw my opinion is based on running cashflow models for both scenarios)

isnt that an alternative viewpoint in a fair and balanced way?

as opposed to an aggressive personal attack,

post the evidence to back this- it frankly makes me sick the way you and a few others keep dragging this up when theres nothing to back it up.

(FYI info someone reported me for abusing Dh when I had been on hoilday and not been near MSE for nearly three weeks so I dont take too kindly to this witchhunt on behalf of DH)

more people would see the need to ask Dh for justification of his comments

but they dont because of his signature

.

At the moment it just looks like taking the opposite viewpoint just for the sake of proving him wrong.

well he not always correct is he?

What I will comment on, regardless of whether you or Dunstonh is correct, is this;

Fairypoppins - before you and your husband make what is a major decision I would urge you to seek the advice of an IFA and see what is right for your circumstances

if they havent had a pm offering help already

dunstonh

if they havent had a pm offering help already

I suggest that the OP ignores any attempts by Whiteflag to obtain business in that way. To do so is a breach of forum rules. They should also report him to the board admin.

whiteflag_3

welcome back Dunstonh - you obvioulsy decided to give this a wide berth for best part of a day, anyway in the interest of balance and for the benefit of the readers could you clarify your comments re cashflow forecasts and their users being "anal" and charging high fees.

As you saw in the several times you viewed this thread yesterday I asked politely for you to clarify your views here-

Dunstonh , as I had the manners to comment on the link you posted , perhaps you would be good enough to have a look at this link and explain why you think a person like Paul Etheridge is "anal"?



http://www.sbpp.org.uk/about_us/pane...petheridge.asp

fairypoppins

:(As you may have noticed I havent posted a response to recent replies on my thread, this is because I am absolutely disgusted by all the inhouse fighting and what to me resembles childish squabbling. I thought that many of you were professionals but looking at the state of my thread I am unsure now.

Remember I am in here somewhere..look at this thread from my eyes as a complete novice and new to the site! I cannot find the information I need amongst all the technical conversations that you are all having..on MY thread ! Remember me, the person who asked the question? I have NO idea what to do about my pension now, my initial question has been hi jacked.

Hope you all sort yourselves out because this isnt good enough and is a slight on the good name of Martin Lewis. Don't think he would be impressed, do you! and NO don' start arguing with me. I just want answers to my question!

cogito

I couldn't agree more, fairypoppins. It's pathetic.

dunstonh

I have NO idea what to do about my pension now, my initial question has been hi jacked.

Your problem is that there is no right or wrong answer as to what is best but quite a few to what is wrong.

What you want to do is classed by the regulator and the liability insurers to advisers as a high risk transaction. That doesnt mean what you want to do is wrong but you need to go into the transaction knowing the facts. In particular the pros and cons. The FSA has its faults but when they and the Govt are warning you against doing what you want to do, then you need to be careful. Especailly as some of the things you are considering are cast in stone for life. There is no going back later if you get it wrong.

I just want answers to my question!

you are not going to get them on an internet discussion site and whilst some options have been given on this thread, you would be foolish to act on any of those options without knowing the consequences.

We dont know the facts, we dont know what you really want to achieve and why. We know what you have suggested but dont know why you have suggested it. We know that Pru cant do income drawdown (their legacy contracts dont allow it). We know that Pru are unlikely to be offering the best annuity rate unless your contract is old and has guaranteed annuity rates. We dont know if taking the annuity is the right thing or not. Chances are it isnt but there is the possibility it is. However, its not a risk free transaction as there are consequences.

Your question is not straightforward and simple and doesnt have a one size fits all answer. Thats part of the reason why there are so many different things flying about on this thread.

whiteflag_3

fairypoppins wrote: »

:(As you may have noticed I havent posted a response to recent replies on my thread, this is because I am absolutely disgusted by all the inhouse fighting and what to me resembles childish squabbling. I thought that many of you were professionals but looking at the state of my thread I am unsure now.

Remember I am in here somewhere..look at this thread from my eyes as a complete novice and new to the site! I cannot find the information I need amongst all the technical conversations that you are all having..on MY thread ! Remember me, the person who asked the question? I have NO idea what to do about my pension now, my initial question has been hi jacked.

Hope you all sort yourselves out because this isnt good enough and is a slight on the good name of Martin Lewis. Don't think he would be impressed, do you! and NO don' start arguing with me. I just want answers to my question!

Fairypoppins - for whats its worth im really disappointed that you feel the way you do and looking at it from your point of view I sympathise with your frustration. My initial aim was to help you by pointing out care needed to be taken with some of the things that were being said but failed miserably.

The long and the short of it is what you are doing is too complicated to be discussed on these boards and if anything has been proved is there are many many things to consider. You should have just been advised to seek professional advice from the outset.

I hope you get things sorted out - apologies Whiteflag

elona

fairy

Read post 50 and the last bit of post 51 as I think they answer your question.

That does not mean it is the best thing to do without knowing all the circumstances so individual advice would be needed.

Good luck with retirement, we will be doing that ourselves at the end of January.

jh2009

Its time to stick up for Dunston.......

The OP asked a question, and he gave up his own time to post a response on what is quite a complicated question (with no simple answer possible). I felt he answered it as well as possible considering what was posted and agree broadly with his response, and have little to add to what hes said, i.e. its probably a bad deal from Prudential.... but who knows - it may not be.... and you should shop about/think it through carefully yourself as you are the only one who knows your circumstances/has to live on the resulting income.

bendix

It is against forum rules for IFAs to give advice on this forum. Everytime an IFA reveals themselves to be an IFA, virtually EVERYTHING they say on this forum has an advisory undercurrent because people are more prone to listen to their opinion than those of others.

Simply saying 'NO' to the OP's first question is advice, and shoddy advice too because it didn't answer her question. Saying Skandia is a good pension provider is opinion with an advisory undertone. Saying pension funds are the best way to save for retirement is an opinion with an advisory undertone - you can't get away from it.

When I post an opinion, it is just that. Based on me having no idea of the types of things that dunstonh etc has. It will alway be viewed as an opinion.

But when someone states they are an IFA, opinions necessarily (although perhaps unintentionally) are taken as advice.

I know Martin is beyond reproach usually, but you have to call a spade a spade sometimes. The policy is plain wrong.

What is strange, though, is why those IFAs who label themselves as such, do it? What do they benefit from? Is it just ego? Or is it that they want their opinions to be taken as more closer to the truth than others . . . ?

You decide.