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stakeholder pension
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skaterboy10
Posts: 5 Forumite
i dont have much spare money at end off each month so have been paying £80 per month into an Aviva stakeholder pension.with all the recent bad news on pensions am I wasting my time and money as its only a small amount off money I'm paying in each month but cant afford too pay in anymore.would I be better off inesting in some other scheme and if so could you give some advise on what best way too invest small amounts off money as iam paying as investing in savings accounts doesn't seem any good with such low interest rates.
thanks
thanks
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Comments
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Does your employer offer a pension scheme?
How old are you?
Do you have emergency savings that are easily accessible?0 -
Please share this bad news !0
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with all the recent bad news on pensions
What bad news?
Pensions have never been more attractive. The pension freedom options introduced in 2015 have improved pensions significantly.am I wasting my time and money as its only a small amount off money I'm paying in each month but cant afford too pay in anymore.
What would you do with that money if you were not paying it into the pension?
If you didnt save towards your retirement, what do you think your living standards would be like on £155 per week?
It would help to know what this bad news you have mentioned is. Someone or something seems to have spooked you and maybe we could correct you on this so you understand it better.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 -
hi,im self-employed and the bad news is refering too annuitys and all the charges and fees, and how much off your pension you loose through all these charges,
thanks.0 -
In view of the modest amount you are able to contribute, the stakeholder option may be the best option for you.
You will not be compelled to buy an annuity at retirement.
Have you obtained a new state pension statement?
https://www.gov.uk/check-state-pension0 -
the bad news is refering too annuitys
An option that is only taken by a minority of people now.and all the charges and fees
Which are typically lower than the charges paid on a savings account. The only difference being one is explicit and the other implicit.and how much off your pension you loose through all these charges,
Or how much you gain because they are explicit rather than implicit.
You are paying less in charges in the pension than if you put the same amount in a bank savings account.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 -
also how your money is invested by the company running your pension seems to be a bit off a rollercoaster in how your pension funds can go down as well as up,are some pension companies better than others in how they invest your money.where would aviva rate with other companies?0
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also how your money is invested by the company running your pension seems to be a bit off a rollercoaster in how your pension funds can go down as well as up
It will only be a rollercoaster if you invest at the highest end of the risk scale. Most people are in the middle and that is more wavy line on an upward trend (although in most cases, the rollercoaster ride would actually give the higher returns over the long term)also how your money is invested by the company running your pension seems to be a bit off a rollercoaster in how your pension funds can go down as well as up
There are thousands of funds. Most with different objectives. Some are designed to be held by themselves. Others in a portfolio. Lots of differences.where would aviva rate with other companies?
An experienced investor wouldnt use an Aviva stakeholder. However, they are very good for an inexperienced investor. There is little to get wrong if you stick to their multi-asset funds (such as the 40-85% fund.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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