Can I use part of my Aegon pension to invest in Bitcoin for my future pension?

Mutton_Geoff

https://www.fca.org.uk/news/press-releases/fca-bans-sale-crypto-derivatives-retail-consumers

dunstonh

 So next time I asked am brushed I will start getting a more  annoyed

Why?  They cannot magic up the availability of something that does not exist.

Aegon do not have a plan that they would make unregulated assets available on.    Assuming you are on one of their two platforms, both of them are closer to fund supermarket than a whole of market platform.  So, you are only going to get mainstream investments.   The rest of their plans have limited investment options or only use insured funds.  You wont see a bitcoin fund appear if your plan uses insured funds.

 

magpie1962

dunstonh said:

 So next time I asked am brushed I will start getting a more  annoyed

Why?  They cannot magic up the availability of something that does not exist.

Aegon do not have a plan that they would make unregulated assets available on.    Assuming you are on one of their two platforms, both of them are closer to fund supermarket than a whole of market platform.  So, you are only going to get mainstream investments.   The rest of their plans have limited investment options or only use insured funds.  You wont see a bitcoin fund appear if your plan uses insured funds.

 

I am rapidly coming to the conclusion that is probably the situation at this moment but it needs to rapidly change. We are getting far closer to the point where Crypto is being accepted, Bitcoin alone has near to half a Trillion market cap. Like many others I am now watching my pension pot being eaten away at, I might as well just burn 10% per year as I watch inflation eat away at it, please don't come back at me with the inflation argument because it all depends what inflation you see as relevant and not being measured.
I am not totally ruling out just taking a tax hit on removing it and putting it in a real store of value I trust, though I am sure there must be a better way or there will be soon

westv

Just because there is a lot of something doesn't make it good.

Malthusian

Like many others I am now watching my pension pot being eaten away at, I might as well just burn 10% per year as I watch inflation eat away at it, please don't come back at me with the inflation argument because it all depends what inflation you see as relevant and not being measured.

If your pension is currently dumped in cash (you haven't said explicitly but the above suggests it; a diversified mainstream investment portfolio would not be losing money to inflation in the long term) you should do something about that now rather than waiting for Bitcoin to become available to pensions.

I am not totally ruling out just taking a tax hit on removing it and putting it in a real store of value I trust, though I am sure there must be a better way or there will be soon

The last thing anyone who lost their business due to the pandemic should be doing is helping out the taxpayer by paying them a massive chunk of their pension fund (just so they can gamble what's left on trying to get rich quick). In this situation the taxpayer is supposed to be helping you.

[Deleted User]

I checked, Bitcoin has a market cap of about 330 billion GBP.  

Another point that did not get mentioned... Very expensive to buy and sell.

Albermarle

Like many others I am now watching my pension pot being eaten away at,

The last ten years have been very good to pension investors. Even a medium risk, middle of the road portfolio , has produced around 4 or 5% % a year above inflation . More aggressive investors  ( but still in mainstream regulated investments) have been getting up to 10 % pa above inflation . Even in this year nearly all pension pots are bigger now than they were on Jan 1st .

So not sure why yours is being 'eaten away' ?

magpie1962

westv said:

Just because there is a lot of something doesn't make it good.

??????

magpie1962

Please can some of you read my opening post, I have made it quite clear all I want to know is if what I ask can be done, nothing else. I not at all interested if anyone thinks it a good or bad idea. But should I want peoples views as to weather it is a good idea or not I will start a thread

magpie1962

Albermarle said:

Like many others I am now watching my pension pot being eaten away at,

The last ten years have been very good to pension investors. Even a medium risk, middle of the road portfolio , has produced around 4 or 5% % a year above inflation . More aggressive investors  ( but still in mainstream regulated investments) have been getting up to 10 % pa above inflation . Even in this year nearly all pension pots are bigger now than they were on Jan 1st .

So not sure why yours is being 'eaten away' ?

It's not relative at all to what I am asking, cash, pensions, bonds or stock market, its  all subjective as to whether it is a good store of value. I have done my research and know what I would like to do, so can people please respect that.
So again for anyone who might actually know of a way, can I use my One retirement pension with Aergon to somehow invest my pot  in Bitcoin?