L&G private pension - allocations gone wrong, nearing retirement

gerrycan23

Thank you everyone for all your replies. Yes, I should have been on top of this and it is might fault for not doing this. My ex ticked boxes for me 20 odd years ago as he understood all of this and it baffles me. 

Regarding why I am in the UK equity fund vs a global one - I left this to my ex who sorted everything via an IFA   (yes, stupid in hindsight!). It's a private pension, not a workplace pension.  

I am undecided yet whether to buy an annuity, I am thinking of pushing my retirement age back a couple of years to allow things to settle in equity markets. 

I will try and do the maths but this is going to be very difficult. I don't have any of the original paperwork - do you think I should ask them for copies directly or open a complaint and let them do the digging and return back to me?

Thanks again 

Albermarle

do you think I should ask them for copies directly or open a complaint and let them do the digging and return back to me?

It seems quite possible that your ex ticked the wrong boxes, which by accident has probably benefitted you . So maybe not much scope for a complaint? You could of course ask for copies of paperwork ( or online access?) 

I am undecided yet whether to buy an annuity, I am thinking of pushing my retirement age back a couple of years to allow things to settle in equity markets. 

Yes probably better to concentrate on the future. Normally if you want to go down the annuity route, it is best to slowly derisk your portfolio in the years leading up to taking the annuity. This is to reduce the risk of a sudden drop in the time before you buy the annuity. In your case this is now too late to do this . So you are probably right to wait in the hope of an upturn . The question is whether you need to diversify away to some extent from the UK based funds and whether you want to stay 100% in equities.

Also worth looking at drawdown as a possible alternative to an annuity in the longer term .

Tealblue

gerrycan23 said:

I will try and do the maths but this is going to be very difficult. I don't have any of the original paperwork - do you think I should ask them for copies directly or open a complaint and let them do the digging and return back to me?

Why would they do any digging if they've done nothing wrong? They have followed the instructions you provided on the form.