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Under performance Pension
ian.h_5
Posts: 1 Newbie
Our Company (money purchase scheme) has changed providers this year and its performance is losing money, not growing. We all feel let down by this move. Can anyone help with what we need to do and is there any Pension Company who tells the truth of what their funds are acutally doing and not hidding behind the stautory 4,7,9 percent growth even if its not there!!
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Comments
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The failure to grow this year has probably got more to do with the stockmarket than the new provider.
What funds is your money invested in? Fund performance is public information, so you can look it up.
The projections are a regulatory requirement from the regulator,and the same for all schemes.Trying to keep it simple...
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If it is a money purchase scheme, you get to choose the funds. So, it is wrong to blame the pension scheme for the performance of the funds that you have chosen.
As Ed has said, this hasnt been a good year (whilst not being a bad year either) for growth. Although for monthly contributions, its probably been quite good in the long term scheme of things. Stockmarket, fixed interest and property have all been poor this year.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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