What can I do...?

phatman

Many year ago, I was sold a pension through a freind on my employer, who I no longer work for... My parents asked the chap selling me the pension key questions such as "could the pension be used to help with a mortgage etc", they where told yes, it know turns out that this is not the case... Can anything be done, as the pension has turned out to be pretty poor...?

dunstonh

Can anything be done, as the pension has turned out to be pretty poor...?

Pensions dont tend to be poor. Its the investments within them that perform and if you are only looking at the last 10 years, which includes a stockmarket crash, performance may appear to be poor when it isnt. You may just have the wrong funds and the pension is fine.

Choosing the wrong funds, with hindight, is not something you can complain about. Joining a pension for retirement, especially a works one, is not something you can complain about.

My parents asked the chap selling me the pension key questions such as "could the pension be used to help with a mortgage etc",

Technically, that is correct. Nowadays you wouldnt but in the early days when tax rates were much higher it was something that was considered by some.