How long do you keep paperwork for Pensions?

missile

I am pleased to be of help. Your thinking is exactly why I compiled my listing. I use my spread sheet to calculate tax and compare returns and several other nerdy things. One does not like to think of dying, but it would be of help to my nearest and dearest and I would hate to think that my investments etc would go unclaimed.

If you are not so familiar with the PC, a simple list would serve the same function. Just take care where you store it. Might I suggest one list with accounts and a seperate list with passwords so that if one were stolen it would be of no use to the thief.

mae

Thanks again Missile, I'm not too bad with computers its just if I've not done something before I need to read up on it but I usually work it out when I set my mind to something. Funny you should mention the dying thing, I was buying files yeterday and I've been putting all papaerwork in order and I suddenly thought I hope this doesn't mean anything' :eek: Im only in my 30's so I hope I'm just being paranoid

To list what I have done:

Cancelled bank statements for all 3 accounts (I'm sick of all the paper this creates monthly and I use internet banking anyway so they are pointless clutter).

Bought a box file for household paperwork (metal so fire proof and in sale WHSmith £5.99 reduced from 19.99) I've made sections for pending, passports, receipts, insurances, car, etc and its now in order yay.

Bought a file and coloured dividers for pensions, endowment etc and its now all in order.

Bought a file for the rest of my college work that I kept piling up. Going to sort this today.

Also today I will list passwords and account numbers somewhere safe.

Its a nice feeling does that make me sad :rotfl:

missile

I think you are doing very well and have every right to feel proud. I guess you need to be organised for college, for me that is so long ago I can barely remember being there let alone what I learnt.

Newly_retired

Congratulations mae, you have made fantastic progress!
I've just retired and been really glad of all the paperwork I kept, so keep up the good work.

Errata

Mae, if you have space in your house to keep all your paperwork - keep it! It's amazing how many people post on MSE 'Help, I think I had a pension with Bloggs but I left 20 years ago - what can I do?'

mae

Thanks yes I've kept everything even piddly little pensions from years ago. I've just put everything in one large file and used coloured divediers for each seperate pension or endowment (Sounds like I've got loads but really they are just little things not worth much) I need to see a financial advisor next and show him the file and see if there is anything better I could be doing, like maybe merging the pensions, if there is such as thing

Thanks for the advice and encouragement. :A

EdInvestor

mae wrote: »

see if there is anything better I could be doing, like maybe merging the pensions, if there is such as thing

If I were you, I'd start by checking out the endowment.Many of them these days are not worth keeping, you'd be better to surrender them and use the money to pay off some of the mortgage.Post some info about yours and we can see if it's a duff one or not.

Provider
Guaranteed sum assured
Declared bonuses
Surrender value
Monthly payment
maturity date
Maturity forecasts
Interest rate paid on mortgage

mae

Thanks Ed Investor I have posted the Endowment details yesterday on the Endowments forum coz as you say some are useless and I want to get everything sorted. I would be grateful if you would take at look at it there?