Tesco Pension

redbuzzard

atush wrote: »

if you have 35K in Tesco shares, then that is too much in one company. I would think of selling some and investing in some collective funds/trusts.

I tend to agree on two counts.

If you didn't work there, would you have £35k of Tesco shares?

It concentrates your risk - your wife already has a hefty stake in Tesco who are paying here wages and guaranteeing her pension. I have never held more than a few shares in my employers.

On the face of it, Tesco doesn't look like anything to worry about, though I know of at least one bank employee who had £40,000 of shares when the crisis came and was just about wiped out - everybody forgets banks are highly geared by their nature.

atush

Nothing wrong with tesco (apart from the first loss in decades) and I own shares.

but only 1K, not 35 lol.

I was thinking of your example, I know someone who was wiped out in bank shares and another who was wiped out with enron (his pension too).

This is common with ex employees unfortuantely

Camdoon

Doing some pension tidying up with the wife and her Tesco pension in the last month. They are quite happy to quote a figure for maxing out with top up by AVC.

Happychappy

Camdoon wrote: »

Doing some pension tidying up with the wife and her Tesco pension in the last month. They are quite happy to quote a figure for maxing out with top up by AVC.

I have sent an enquiry as to maxing out the AVC, from looking at their site, they give three options for providers of the AVCs Is their much difference between the three providers, baring in mind it wil only be a possible four year plan, appreciate the tax free deductions from saary, but do you see any diffierence in performance from the different companies?

Camdoon

Still awaiting an amount before I make an investment decision. It's been a couple of weeks. The wife only works part time and is only hanging on until 55 to allow her to retire and keep her staff card. I was trying to see if I could merge her stakeholder pension but they would not transfer in but offered the quote (they actually said I could cash the stakeholder in and re-invest the money!). Like you we have a disproportionate amount of Tesco shares. Further complicated because the wife can get an enhanced annuity.

breaghboo

Hi, Re lump sums from AVC's, perhaps it would be worth checking. My company pension scheme advised me that you can only take a lump sum from AVC's, if you take the full lump sum from your pension!