With Profit Pension statement

Pincher

ringer wrote: »

Yes agarnett it does sound like we have similar plans and I did indeed turn down the £400 offer.
I transferred £5400, 4k non protected rights and 1.4k protected rights.

Classic murder plot: Tontine members bumping each other off near the end. En Garde, Monsieur.

agarnett

Pincher wrote: »

Classic murder plot: Tontine members bumping each other off near the end. En Garde, Monsieur.

Ah oui, mais c'est every 5 years, monsieur, that nous avons besoin de watch our backs - that is the way that nos amis, Friends Life like eet ! So if you hear of FL Old WP Fund policyholders jumping off tall buildings in December, or doing themselves in with eight nails to ze head from a nailgun, then you must not believe it, monsieur, for it is I, LeClerc, optimising my asset share !

gadgetmind

I never really got With Profits. It sounded to me far too much like taking on a massive amount of single company risk with your entire pension, which I found too scary to contemplate.

Of course, these things were so opaque that even working out how afraid to be wasn't easy!

hyperhypo

i've just had a letter from Aviva re. my old NU contracted out SERPS policy (commenced 1989).

It had a 4% bonus guarantee and charges of 0.875 %, i never understood how it worked, only that nothing had been paid in since 2000 as had been in occupational schemes since then.

i had in past been intching to transfer it into a sipp and see if i could better it's performance. It's transfer value is 32k presently.

But i left it alone in the end after reading here....i see it now as a slow and steady element in my DC pots and not a bankroll for my (imaginary) starter SIPP.

The letter told me of good news that an additional 7.5 % bonus would be added to the final bonus.

So thanks to all here who have shed some light on the world of WP

atush

Yeah, we got one of these from one of our very old pensions.

tony4147

I have 2 With Profits 'paid up' pensions with Standard life taken out in the '90's, one an EPP and the other my contracted out contributions, can't say that I understand them.

What I do know is in 07/13 they had a combined transfer value of £81K and in 07/15 they had a combined transfer value you of £100K, this without any contributions being made.

I also know that the EPP will allow me a larger TFLS and both of the pensions have funds with guaranteed growth rates of 4%.
I thought for years about transferrring them as I can't make head nor tail if they are good or bad, so I've kept them as I think are a low risk 'safe bet'.

I'm also thinking that when I do retire (hopefully 64 ish) and probably go drawdown with another pension I have that I might keep these 2 pensions as the final ones to crystalize (@ maybe 70/75) because of the guarantee 4%