Pension fund value

amego

Hi all I was auto in rolled nearly 2 years ago I’ve worked out that I’ve payed iin about £1500
So can’t understand my pension fund value being £400

ffacoffipawb

amego wrote: »

Hi all I was auto in rolled nearly 2 years ago I’ve worked out that I’ve payed iin about £1500
So can’t understand my pension fund value being £400

Seems extremely unlikely to be honest.

Marcon

amego wrote: »

Hi all I was auto in rolled nearly 2 years ago I’ve worked out that I’ve payed iin about £1500
So can’t understand my pension fund value being £400

Have you asked your pension provider for an explanation? Assuming your employer has also contributed, this sort of drop is highly improbable. Sounds as if some contributions may have been allocated to the wrong person.

Zero_Sum

Is the £400 not just your annual pension?

JoeCrystal

amego wrote: »

Hi all I was auto in rolled nearly 2 years ago I’ve worked out that I’ve payed in about £1500
So can’t understand my pension fund value being £400

That makes no sense at all. What kind of scheme is it? Is it a DB pension scheme or a DC pension scheme? What is your and the employer's contribution rate? What is the fund your contribution get invested in?

We need more details about your pension. You are saying that your fund has suffered a 73% loss, which is statistically unlikely. I agreed with Zero Sum that it sounds more like a DB pension scheme and that £400 is an annual pension built up.

amego

Yes my boss is paying in I will past a picture but the now pension site is down

JoeCrystal

amego wrote: »

Yes my boss is paying in I will past a picture but the now pension site is down

Ah, that would be interesting to see as NOW:Pensions is a DC pension scheme. It might be worth checking your contribution history as well.

amego

Can’t post picture don’t know how

On-the-coast

Assuming it's a defined contribution scheme, the annual statement (which is often 6 months old when given to you) will have at least 3 figures on it - very simplistically
1) a plan valuation as of now (or a few months in the past) - sometimes called a TV or transfer value.
2) a plan valuation if you continuing paying into the plan at the current rate until you retirement date.
3) what yearly pension you will receive based on that future valuation.
For your purposes you need to find out what #1 is - in case you're confusing it with #3
if you have those 3 figures to hand - and can communicate them here (plus a few words about assumed inflation rates and growth) then all will be made clear.