Workplace Pension - Opt Out

JoeCrystal

dunstonh wrote: »

I have a pension on my desk that is showing a mid rate projection of 1.4%. That is 1.4% before charges (not after). When you look at investments, the returns are shown after charges. So, that 1.4% has to have the charges deducted from it. Then it has 2.5% deducted for inflation. So, even though it has a very small growth rate figure, it is actually calculating an annual loss.

Heh, one of my pension schemes default fund has -0.4% as low, 2.6% as mid and 5.5% as high. The other one has -1.71% as low, 1.22% as mid and 4.16% as high. Needless to say, the former fund performance as 7.84% annual growth over the last five years and the latter fund has 3.3% annual growth. So it is pretty pessimistic!

mojoscotland

So many great replies and has changed my pessimistic view on the pension completely.

I shall remain in the scheme, find out my previous employer pensions from years ago & determine whether to group all those together.

Going to review the fund invested in also.

You all have probably stopped me making a huge mistake.

Thank You

Craig