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RM pension advice
custardy
Posts: 38,365 Forumite
No,not for me
know someone at RM who now has access to the pension scheme
they are looking ot pay in 10% wages + 7% RM contribution (postie salary,so around £370 a week before deductions)
they have no other pension at 38-40 (around that,not sure exactly)
this is a Zurich/RM defined contribution fund
now the question
they have 2 options
lifecycle option,where the fund is managed
"do it yourself" option"
8 funds are available
now on the monies involved. is there any point/worthiness to DIY?
if so with what fund(s)
asked me but I really don't know this stuff
cheers
know someone at RM who now has access to the pension scheme
they are looking ot pay in 10% wages + 7% RM contribution (postie salary,so around £370 a week before deductions)
they have no other pension at 38-40 (around that,not sure exactly)
this is a Zurich/RM defined contribution fund
now the question
they have 2 options
lifecycle option,where the fund is managed
"do it yourself" option"
8 funds are available
- global equity fund
- diversified assets
- bonds fund
- cash fund
- inflation linked bonds
- shariah fund
- ethical fund
- active diversified fund
now on the monies involved. is there any point/worthiness to DIY?
if so with what fund(s)
asked me but I really don't know this stuff
cheers
0
Comments
-
Hi
Depends on a whole host of things e.g.:
Age
Length of time to retirement
Attitude to risk
Knowledge & experience
As a general rule the longer someone has to go until retirement the more they will / should invest in equities, as I say though this is only a general rule.
Diverstification is also key between different equity markets and also other asset classes, such as property and fixed interest.
The Canny SaverAlways looking for a good deal on my savings, generally risk averse, but always interested in new ideas and new ways of doing things.0 -
CannySaver wrote: »Hi
Depends on a whole host of things e.g.:
Age 38-40
Length of time to retirement well I would say no earlier than the 67 it is now
Attitude to risk mmmm,with little knowledge I don't know if they would even know TBH
Knowledge & experience as above,nil
As a general rule the longer someone has to go until retirement the more they will / should invest in equities, as I say though this is only a general rule.
Diverstification is also key between different equity markets and also other asset classes, such as property and fixed interest.
The Canny Saver
I don't really know about this stuff to advise them0 -
I think they need to come here and ask, as the attitude to risk (which you don't know)is the most important part. So maybe they shoud just stick with lifestyle option.0
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