Aviva - over 2 years my pension fund (100% in Deposit S2) loses £4,000 + inflation.

Earthling42

Jem6 – a silly stereotype which only goes to show that you have a very limited experience of people.

Dunstonh – I don’t agree with anything you say + I did not know nor was it explained to me that I had transferred into a money market. Please don’t feel the need to add any further comments as I’m starting to think that you are in some way connected to aviva. It seems many companies are now employing / paying people to write positive reviews or to bully negative comments from the forums. I’m not suggesting aviva is doing this but your commentary feels a little too sycophantic for my taste. If you have no useful suggestions please go away.

Joecrystal – I’m overcome with joy for you but how does that help me.

Bigfreddiel – I don’t want to start learning about finance as I have other things to do with my life. Thanks for the facetious comments about freeing up some time but again, not helpful and in any case I would prefer to find a trustworthy organisation to do it for me. Perhaps you lack the imagination to understand a life that does not revolve around money.

If there are no useful suggestions then please don't post any more fatuous responses, I can go to aviva for that.

dunstonh

I did not know nor was it explained to me that I had transferred into a money market.

That is because you didnt use someone who was there to explain it to you. You chose to do it.

Please don’t feel the need to add any further comments as I’m starting to think that you are in some way connected to aviva.

Oh please. Just because you dont like the fact it has been pointed out that it is your fault, you take to making silly comments like that.

It seems many companies are now employing / paying people to write positive reviews or to bully negative comments from the forums. I’m not suggesting aviva is doing this but your commentary feels a little too sycophantic for my taste. If you have no useful suggestions please go away.

To be told you are wrong is not bullying. It is pointing out a fact.

I don’t want to start learning about finance as I have other things to do with my life.

Yet you seem intent on making your own decisions without any knowledge and then want to blame others for your decisions.

If there are no useful suggestions then please don't post any more fatuous responses, I can go to aviva for that.

No need to throw your toys out of the pram.

jem16

Earthling42 wrote: »

Jem6 – a silly stereotype which only goes to show that you have a very limited experience of people.

Ah I see - silly me.

You didn't really want help - you just wanted replies that agreed with your way of thinking.

JuicyJesus

How I read the OP's posts:

"Hello, I take pride in my ignorance about finance and am happy for this state of affairs to continue. However I will still insist on making my own decisions about everything while not looking too far into what I am actually doing or reading any literature. When it naturally goes pear-shaped I will then start blaming other people if those decisions, which I freely admit were made while completely ignorant as to what I was doing, turn out to have negative consequences."

Actually I think I just summed up MSE in general with that.

As an aside, I don't think I've ever seen an occasion where dunstonh expressed regret that he was perhaps too blunt.

fairleads

Earthling42 wrote: »

dunstonh I like blunt ... but what you're saying is not helpful in that most of us are ignorant about finance. A 'safe' on-deposit fund I took to imply would produce at least an equivelent performance to a standard deposit account. I would be more than happy with a deposit account as opposed to some financially savvy way of losing money via the money markets - it's hardly a competent performance is it.

A sterling defence of Aviva but to what point ....... you're in the financial sector & you may well be fed up with all the criticism but you are living off the commissions & bonuses generated from people like me putting their trust in organisations like aviva & occasionally in supposed qualified advisers. The only competence I've seen from people in the finance business is how to maximise your piece of the action.

I bet we would see better results from these money making machines (mostly for themselves) if their fees / commissions were based on the benefit they provided to their poor customers (or are we 'clients' in this modern age).

squeeks - I'm about to be 62 and it was my intention to take this pension at 60 but because of annuity rates are so low have postponed until 65 - something I now regret. I was advised / browbeaten into moving from equities by aviva as I was within months of my original retirement date. This was probably sensible advice (if it had been delivered a couple of years prior to my retirement it would have been excellent advice) but what aviva meant by 'safe' and my understanding of what that means seem to be 2 different things. I'm irritated that aviva are making considerably more out of my pension pot than I am and that they don't suffer any penalty when they lose my pension money. My benefit for 2011-12 was 0.28% whilst aviva make 1% does not seem equitable (pun intended).

If its any consolation to you I sympathise with your situation and after one yr posting here on MSE i'm still astounded by the arrogance of Dh and his supporters.

Earthling42

dunstonh - as I said I don't agree with you nor do I find your comments remotely helpful.
You & your buddies have turned this forum into a sterile area for finance sector sycophants only. Why are you responding if you have nothing relevant to say ... you are now bullying & harassing ... well done you. You whole approach smells of the self-important. Whose interests are you serving by your contribution to this post ... I suspect that aviva will be pleased with you.

squeeks

Earthling42 wrote: »

squeeks - I'm about to be 62 and it was my intention to take this pension at 60 but because of annuity rates are so low have postponed until 65 - something I now regret. I was advised / browbeaten into moving from equities by aviva as I was within months of my original retirement date. This was probably sensible advice (if it had been delivered a couple of years prior to my retirement it would have been excellent advice) but what aviva meant by 'safe' and my understanding of what that means seem to be 2 different things. I'm irritated that aviva are making considerably more out of my pension pot than I am and that they don't suffer any penalty when they lose my pension money. My benefit for 2011-12 was 0.28% whilst aviva make 1% does not seem equitable (pun intended).

Thanks for that. Take that information to an IFA (or three) the first session is normally free and see what advice they come up with and if you want them to help you.

Financial markets aren't for everyone, but you do get exposed to them more than you might be comfortable with, with most pension provisions.

Earthling42

Thx squeeks - best advice so far ... didn't realise you could get a freebie ...... like most people these days, I don't have money to fritter away so I may give an IFA or two a try.

Daniel_Elkington

Wow, I thought I was the only one to come across as an !!!!!

Fund names are a massive bugbear of mine in general. A deposit fund should be on deposit. The real question is why did they charge you for a fund switch and why on earth are you invested in cash? Are you retiring in the next year or so.

Aviva, like most companies, do not have advisers, they are not regulated for retail financial advice.

I do sympathise with your problems but that is what you get for investing your money in a rubbish fund in an insurance company and not an investment company.

You cannot complain I'm afraid, the ombudsman would simply laugh at you.

It is very unfortunate and I meet loads of people like you but the only thing you can do is move forward.

If you are waiting for annuity rates to increase, don't. They won't whilst QE is going on.

dunstonh

dunstonh - as I said I don't agree with you nor do I find your comments remotely helpful.

You wont find them helpful because you have already made your mind up. You posted as you wanted people to agree with you. That hasnt happened and instead of understanding where you went wrong, you chose to lash out at those that dont agree with you.

You & your buddies have turned this forum into a sterile area for finance sector sycophants only. Why are you responding if you have nothing relevant to say

The fact you feel there is nothing relevant means you are just going to make the same mistakes again.

well done you. You whole approach smells of the self-important.

I would rather be that than a compensation chasing blundering fool who does not learn from mistakes.