Anyone got an HSBC Stakehold pension?

edited 30 November -1 at 1:00AM in Pensions, Annuities & Retirement Planning
4 replies 1.7K views
BaritoneUKBaritoneUK Forumite
231 Posts
:)
[glow=red,2,300]Hi![/glow]
Has anyone got an HSBC S/H pension? I got one last year, and now so has my wife. I am only putting in about £75 a month before tax added, and I have 80% on international fund and the rest on FTSE. I know this is high risk, but I am 28 yrs old. I am more or less fully self employed, so this is all I am putting into a pension at the moment. It's all I can afford, but hopefully i can put more later.
Is this a good idea?
Is HSBC good?
Has anyone had any experiences with this?
Moneysaving since 2004!

Replies

  • Don't know about HSBC. At age 28, I would be inclined to be aggressive, as you are doing.

    If you want to educate yourself, you can be more targeted than just "international". For instance, I put money in Japan a couple years ago because it seemed to me that it was primed for a rise. I guessed right, and came out ahead of if I'd just been in an "international" fund. I've left my money there, because it still seems good value, but not adding much to it anymore, because Japanese shares have come up quite a bit.

    If you are prepared to watch world economic and political trends, you can get into the right markets at the right time. But it has risk, of course.

    IMO, if you want to be in equities, the US is a good place to be. This is because I expect GWB to be re-elected, and the tax cuts to be renewed as a result. If this happens, I expect US shares to resume their climb.

    I could be completely wrong, of course. If Kerry wins, I expect US shares to drop in the short/medium term.
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  • Thanks.

    Unfortunately, HSBC only have a few options so I can't get as specific as you were advising.

    I think there is only about 8-10 different funds, and the international fund, is basically just 'international'

    The link is on http://www.ukpersonal.hsbc.co.uk/hsbc/personal_banking/pensions/sh-pensions/where-can-i-invest

    Maybe I should think of changing, but at only £75 a month, I am not giving much to the fund, but it's all I can afford.
    Moneysaving since 2004!
  • dunstonhdunstonh Forumite
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    Most providers have a limit of 10 funds you can have anyway so as long as you have some variety in there you did not loads.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • One of the good things about stakeholders is flexibility. No cost to transfer to another provider with more fund options. Legal & General, for one, have a lot of different options.
    I have five stars! This doesn't mean that I know anything about any of the things I post. I could be a raving lunatic, or a brilliant genius, or just some guy on the internet. In fact, I could be all three at the same time.

    If anything I say makes sense, then do it. If not, don't. Don't blame me or my stars if you do something stupid because I suggested it. I'm responsible for my own stupidity only. You are responsible for yours.

    Why, I don't even have five stars anymore! Aren't you glad you aren't responsible for my stupidity?
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