clerical and medical

joydivisionforever

Hi,I have a clerical and medical stakeholder pension,are they any good as I have been paying in for almost 10 yrs is it worth carrying on with.
I pay £300 per mth,male mid 40s

JoeCrystal

Well, how much you got in the fund so far, what age you want to retire by and what kind of income you would like? How good the amount of contribution for your pension scheme are partly depends on these three factors. Have a play around with this calculator for better idea

It is always worth carrying on paying into pension scheme though you might be able to find better/cheaper pension schemes. The amount you are paying is above minimum requirement for most (?) private pension scheme which is £100 per month.

Cheers

Joe

Loughton_Monkey

Clerical & Medical are now part of Scottish Widows.

In the context of pensions, it is far less to do with whether "they" are any good. It's much more whether or no their funds give you the right choice and are performing to par.

I view it pretty much the same as, say, mobile phones. You want the latest Samsung-mega-million-app-33 million pixel -so-smart-it's-more-clever-than-Einstein-android-5G phone. Well you can get it from T-Mobile, O2, Talk-Talk........ All will have slightly different coverage, rates, deals, and service, but the performance of the phone is ultimately not really down to them.

No point having the Samsung if the HTC performs miles better!

Look hard at the funds into which you are invested, and ask yourself (and others) if they are right for your own objectives. This is where your pension will 'perform', or not as the case may be.