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

atush

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' ?

ours is

Secret2ndAccount

Anthony Scaramucci’s SkyBridge Capital - a well known US based asset management company filed with the SEC yesterday to create a bitcoin fund. This would be listed on the popular exchanges, aim to to track closely the value of bitcoin, and have an annual charge of 0.5%. It's not open yet, but it's quite possible you could buy that in a SIPP in due course.

(There is a fund which already exists. It's call Grayscale Bitcoin Trust. However, it is only listed on a secondary exchange, is currently closed to new buyers, deviates too much from the underlying value of bitcoin, and charges an extortionate 2% annual fee)

So, no.

magpie1962

barnstar2077 said:

magpie1962 said:

Thrugelmir said:

magpie1962 said:

Before we start and I really want to keep this short and to the point, yes I know it's volatile, yes I am mad(though I am not), it's not a real thing, too risky, yes I have heard all the downsides before  and yet done all my own research since 2015 and all I need to know is there a way of doing this.
I am now in my 50's and have a substantial pension pot with Aegon pension and am looking at using a sizable portion of my pot to invest in Bitcoin as part of my pension fund, is there anyway I can do this.

If it's that profitable. Start to liquidate the pension pot as soon as you are able and use the funds to invest in Bitcoin. Outside of the regulated wrapper you'll be fine. 

Thank you so much for your help and at least a possible route I can take with what I was asking. I know very little about pensions and post very little on MSE's  website I thought had a reputation on giving financial help with those lacking knowledge in certain areas. I have just found a few obnoxious trolls who have tried to tell me everything but what I was asking. I never wanted to hear what I wanted to hear, just was it possible, what did I do so wrong?
I am also using another site that is more helpful and has given a similar answer and suggested I could take 25% out tax free, more than I was wanting, so at the end of the day there was a way.
Somebody also mention Sipps, but looks like that's not needed now given this option.
That really has put me off from coming back here and thanks again for being civil and helping me

People have tried to help you.  They answered your question, and also tried to sort out your existing pension to make it profitable again.  Because it really is very unusual to have lost money in a pension in the last ten years.  You only seem interested in hearing what you want to hear however.  Which is also why you didn't read any sarcasm in Thrugelmir's post I guess.

You really are quite odd
Yes I wanted to hear an answer to a question I asked, not one invented for me.
Simply can I in some way invest in Bitcoin(more actually as I have several already over last 5 years) using my useless pension fund which is irrelevant to this discussion because to put it bluntly I am not asking for anyones opinion or advice on that.
I have asked on a few discussion boards and the answer is YES I CAN.
It looks like I can take 25% out of my pot tax free, perfect and yes just what I wanted to hear, my problem solved by a couple of individuals other the ones who oddly just wanted to troll me and with some claiming there was no way I could do this when I can

westv

atush said:

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' ?

ours is

Hopefully not 10% a year!

Thrugelmir

Secret2ndAccount said:

Anthony Scaramucci’s SkyBridge Capital - a well known US based asset management company filed with the SEC yesterday to create a bitcoin fund. This would be listed on the popular exchanges, aim to to track closely the value of bitcoin, and have an annual charge of 0.5%. It's not open yet, but it's quite possible you could buy that in a SIPP in due course.

(There is a fund which already exists. It's call Grayscale Bitcoin Trust. However, it is only listed on a secondary exchange, is currently closed to new buyers, deviates too much from the underlying value of bitcoin, and charges an extortionate 2% annual fee)

So, no.

Appears as if the SEC is going to push regulatory responsibilities onto platforms, i.e. verification of ownership of the funds. Might reduce the appeal somewhat. 

dunstonh

magpie1962 said:

barnstar2077 said:

magpie1962 said:

Thrugelmir said:

magpie1962 said:

Before we start and I really want to keep this short and to the point, yes I know it's volatile, yes I am mad(though I am not), it's not a real thing, too risky, yes I have heard all the downsides before  and yet done all my own research since 2015 and all I need to know is there a way of doing this.
I am now in my 50's and have a substantial pension pot with Aegon pension and am looking at using a sizable portion of my pot to invest in Bitcoin as part of my pension fund, is there anyway I can do this.

If it's that profitable. Start to liquidate the pension pot as soon as you are able and use the funds to invest in Bitcoin. Outside of the regulated wrapper you'll be fine. 

Thank you so much for your help and at least a possible route I can take with what I was asking. I know very little about pensions and post very little on MSE's  website I thought had a reputation on giving financial help with those lacking knowledge in certain areas. I have just found a few obnoxious trolls who have tried to tell me everything but what I was asking. I never wanted to hear what I wanted to hear, just was it possible, what did I do so wrong?
I am also using another site that is more helpful and has given a similar answer and suggested I could take 25% out tax free, more than I was wanting, so at the end of the day there was a way.
Somebody also mention Sipps, but looks like that's not needed now given this option.
That really has put me off from coming back here and thanks again for being civil and helping me

People have tried to help you.  They answered your question, and also tried to sort out your existing pension to make it profitable again.  Because it really is very unusual to have lost money in a pension in the last ten years.  You only seem interested in hearing what you want to hear however.  Which is also why you didn't read any sarcasm in Thrugelmir's post I guess.

You really are quite odd
Yes I wanted to hear an answer to a question I asked, not one invented for me.
Simply can I in some way invest in Bitcoin(more actually as I have several already over last 5 years) using my useless pension fund which is irrelevant to this discussion because to put it bluntly I am not asking for anyones opinion or advice on that.
I have asked on a few discussion boards and the answer is YES I CAN.
It looks like I can take 25% out of my pot tax free, perfect and yes just what I wanted to hear, my problem solved by a couple of individuals other the ones who oddly just wanted to troll me and with some claiming there was no way I could do this when I can

Complete and utter madness.   It is clear you do not know what you are doing and you dont want to know.   It is the wrong decision but it is your right to make it as much as it is our right to tell you that you are bonkers.

NottinghamKnight

magpie1962 said:

barnstar2077 said:

magpie1962 said:

Thrugelmir said:

magpie1962 said:

Before we start and I really want to keep this short and to the point, yes I know it's volatile, yes I am mad(though I am not), it's not a real thing, too risky, yes I have heard all the downsides before  and yet done all my own research since 2015 and all I need to know is there a way of doing this.
I am now in my 50's and have a substantial pension pot with Aegon pension and am looking at using a sizable portion of my pot to invest in Bitcoin as part of my pension fund, is there anyway I can do this.

If it's that profitable. Start to liquidate the pension pot as soon as you are able and use the funds to invest in Bitcoin. Outside of the regulated wrapper you'll be fine. 

Thank you so much for your help and at least a possible route I can take with what I was asking. I know very little about pensions and post very little on MSE's  website I thought had a reputation on giving financial help with those lacking knowledge in certain areas. I have just found a few obnoxious trolls who have tried to tell me everything but what I was asking. I never wanted to hear what I wanted to hear, just was it possible, what did I do so wrong?
I am also using another site that is more helpful and has given a similar answer and suggested I could take 25% out tax free, more than I was wanting, so at the end of the day there was a way.
Somebody also mention Sipps, but looks like that's not needed now given this option.
That really has put me off from coming back here and thanks again for being civil and helping me

People have tried to help you.  They answered your question, and also tried to sort out your existing pension to make it profitable again.  Because it really is very unusual to have lost money in a pension in the last ten years.  You only seem interested in hearing what you want to hear however.  Which is also why you didn't read any sarcasm in Thrugelmir's post I guess.

You really are quite odd
Yes I wanted to hear an answer to a question I asked, not one invented for me.
Simply can I in some way invest in Bitcoin(more actually as I have several already over last 5 years) using my useless pension fund which is irrelevant to this discussion because to put it bluntly I am not asking for anyones opinion or advice on that.
I have asked on a few discussion boards and the answer is YES I CAN.
It looks like I can take 25% out of my pot tax free, perfect and yes just what I wanted to hear, my problem solved by a couple of individuals other the ones who oddly just wanted to troll me and with some claiming there was no way I could do this when I can

Which discussion boards have said you can?
You can withdraw your pensions, give the money away or to scammers and actually then be charged hmrc penalties for doing this against the law, so you can actually lose significantly more than the pension, just so you know.

Prism

magpie1962 said:

barnstar2077 said:

magpie1962 said:

Thrugelmir said:

magpie1962 said:

Before we start and I really want to keep this short and to the point, yes I know it's volatile, yes I am mad(though I am not), it's not a real thing, too risky, yes I have heard all the downsides before  and yet done all my own research since 2015 and all I need to know is there a way of doing this.
I am now in my 50's and have a substantial pension pot with Aegon pension and am looking at using a sizable portion of my pot to invest in Bitcoin as part of my pension fund, is there anyway I can do this.

If it's that profitable. Start to liquidate the pension pot as soon as you are able and use the funds to invest in Bitcoin. Outside of the regulated wrapper you'll be fine. 

Thank you so much for your help and at least a possible route I can take with what I was asking. I know very little about pensions and post very little on MSE's  website I thought had a reputation on giving financial help with those lacking knowledge in certain areas. I have just found a few obnoxious trolls who have tried to tell me everything but what I was asking. I never wanted to hear what I wanted to hear, just was it possible, what did I do so wrong?
I am also using another site that is more helpful and has given a similar answer and suggested I could take 25% out tax free, more than I was wanting, so at the end of the day there was a way.
Somebody also mention Sipps, but looks like that's not needed now given this option.
That really has put me off from coming back here and thanks again for being civil and helping me

People have tried to help you.  They answered your question, and also tried to sort out your existing pension to make it profitable again.  Because it really is very unusual to have lost money in a pension in the last ten years.  You only seem interested in hearing what you want to hear however.  Which is also why you didn't read any sarcasm in Thrugelmir's post I guess.

You really are quite odd
Yes I wanted to hear an answer to a question I asked, not one invented for me.
Simply can I in some way invest in Bitcoin(more actually as I have several already over last 5 years) using my useless pension fund which is irrelevant to this discussion because to put it bluntly I am not asking for anyones opinion or advice on that.
I have asked on a few discussion boards and the answer is YES I CAN.
It looks like I can take 25% out of my pot tax free, perfect and yes just what I wanted to hear, my problem solved by a couple of individuals other the ones who oddly just wanted to troll me and with some claiming there was no way I could do this when I can

If you are 55 or over yes you can take out 25% and invest in bitcoin. I would also suggest sorting out the other 75% of your pension so it is not useless. I have had a return of over 15% per year for many years now.

big_saver_5

The head of a bitcoin company MTI has fled this morning and taken all the money with him. Some people have lost everything. There is a reason these schemes are not used for pensions as one wrong move and you lose the lot. 

Peter314

A Bitcoin tracker can be held in a SIPP. Don't know if Aegon offers it but op could transfer to a platform that does...

https://www.hl.co.uk/shares/shares-search-results/x/xbt-provider-bitcoin-tracker-one