Pension Help Needed

Cotta

Hi All,

I have an old work pension with Legal and General that I no longer pay into, the current value of this pension is £7000.

I've never fully understood pensions and I've only logged onto this pension for the first time ever today and it really confuses me.

My pension seems to be within the following fund which I've no idea what it is or how much it's making or losing - can anyone help me with this please?

Global Eqty Fixed Weights 50:50 Indx (PMC) 3 £7000.32

sleepless_saver

This one?

http://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=AMFD8&univ=P

Cotta

That's it - I've no idea what it relates to but I assume it's not a good idea to have all of my pension tied up in this.

FatherAbraham

Cotta wrote: »

That's it - I've no idea what it relates to but I assume it's not a good idea to have all of my pension tied up in this.

It looks like a good, cheap, well-diversified equity fund for a UK-based investor. What charges are you paying? (The fact sheet says 0.20%, but maybe your pension arrangement charges more).

You haven't said how old you are, but however young or old you are, you probably ought to have some non-equity assets in your pension portfolio too. If you're 25, mayybe you should have 10% in long-dated bonds; if you're 55, maybe quite a bit more.

Try reading up on "asset allocation". Don't rush into making hasty changes.

Warmest regards,
FA

Cotta

I seem to be paying £1.50 per month on management charges. I'm 29 and I've requested a statement from L+G to advise how much I've made or lost since the pension was taken out with them in November 2011.

Wilkins

Cotta wrote: »

I seem to be paying £1.50 per month on management charges. I'm 29 and I've requested a statement from L+G to advise how much I've made or lost since the pension was taken out with them in November 2011.

The fund itself will have done well. The issue is how will the charges have affected the return? As FA says, this looks like a good fund and, if the charges stay fixed in nominal terms, the overall return should be excellent when you are of pensionable age.

You will have plenty of opportunities to diversify with other pensions, so I would be inclined to leave well alone unless you find out something to the contrary concerning the charges.

Cotta

The fund charges are 0.23%.