Pension pot

alan693

I am cashing in my pension pot, which matures in july 2015, can anybody give me some advice on how i know when it's best to take, my problem is that the value of my pension has gone down £1,000 since April 2015, which i find strange just before maturity,(hidden fees??) Thanks in advance

kidmugsy

alan693 wrote: »

my problem is that the value of my pension has gone down £1,000 since April 2015, which i find strange just before maturity,(hidden fees??)

Why would a pension decline in value when the stock market has a minor set back? It's a mystery and no mistake! It must be hidden fees; that'll be it.

Why use rationality if you can blame conspiracy?

xylophone

https://www.pensionwise.gov.uk/ might be worth a look.

dunstonh

can anybody give me some advice on how i know when it's best to take

When you need it is usually best. Not before. not later.

I am cashing in my pension pot, which matures in july 2015

So, that would make you 75 in July. If not, then the pension does not actually mature on that date unless you want it to.

my problem is that the value of my pension has gone down £1,000 since April 2015, which i find strange just before maturity,(hidden fees??)

There are no hidden fees. If you followed the news you would know why its gone down. You had Greece teetering on the edge (again) and the Chinese stockmarkets suffering a major decline and other global markets down 10-15% on recent highs.

It is normal for people to reduce their investment risk in the lead up to retirement (where annuity purchase or large withdrawals are planned. Perhaps you didnt do this?

atush

If you knew you wanted to take your entire pension out, you should have switched to cash ages ago.

No conspiracy or hidden fees, just you taking your eye off the ball?