Aegon Retireready

outofoakes

Last year, at my 60th birthday, Aegon moved my pension in the Retireready scheme. I was told I could opt to move it back to the original plan but I didn't fully understand and thought I would leave it as they suggested. I am not contributing into the scheme which has a value today of just over 49k but haven't any plans as yet to draw any of it as I am still working part time but I was concerned to see that in the last 6 months the value has decreased by £470.23 (£197.85 in charges and £272.48 investment return). Its invested in Scot Eq Cautious Lifestyle PN 2021 ARC, I appreciate that investments can go down but wondered if this seemed a lot to anyone else?

westv

0.95% loss is hardly anything.

IanSt

If it were me then the question I would be asking myself is whether this particular fund meets the needs that I have. If it does then a small percentage loss might be okay, however if it doesn't then I would look to see what other funds are available that better meets my specific set of requirements.

The biggest question would be when I thought I would need the money, what other finances I had, and what kind of amounts I would be taking from the pension over what timeframe.

outofoakes

Thanks for the replies but just had another look at this and my statement now says in the last 6 months there have been £197.69 deducted for charges which I am aware apply to all pensions but investment losses of £1606.02 is worrying me.
I am hoping to retire in two years time and I am worried that losses at this rate will leave me with a lot less in this pension pot.
I understand that investments go down as well as up but wondering if I should look at moving this to something else, I would have to take financial advice as I have zero knowledge.

dunstonh

but investment losses of £1606.02 is worrying me.

And do you worry about the gains during positive periods? (noting your later comment about knowing they go down as well as up)

I am hoping to retire in two years time and I am worried that losses at this rate will leave me with a lot less in this pension pot.

What method of retirement income are you going to be using?

I understand that investments go down as well as up but wondering if I should look at moving this to something else, I would have to take financial advice as I have zero knowledge.

It may be that is the right option. It could also be a very bad move as well. It all depends on what your plans are.