Pensionbee decimates my pension pot.

Rtayl306

Before you financial advisors start, people like me who entrusted there pension with pensionbee to only see as I would say a fortune robbed from my pension.  Some people are getting very rich of swindling poor people like me out of there hard earned savings.  Something should be done by the government to stop these so called useless pension money managers who still get there percentage (don't you) no matter what happens to our pensions.  Pensionbee in my eyes are an abysmal company, who fob you off with market volity excuses all the time.  [Text removed by Forum Team]

Dh6

Must be a wind up!

Prism

It is all down to market volatility. Doesn't matter who you are with, pensions and investments rise and fall. As examples...

Vanguard Lifestrategy 40, typically a relatively safe choice, is down over 10% this year.
Pension Bees balanced plan is down 15%.
Baillie Giffords managed fund is down 22%

DoublePolaroid

This is a bit like complaining about getting wet in a thunderstorm.

turnitround

But did you read what you signed up to?

davidr1964

Don't feed the troll.

Prism

I think to need to calm down and read up on how the markets work - they go both up and down. It happens all the time. I don't work for a pension company - my pension is down considerably more than yours is and its not a problem. Its entirely expected and normal.

p00hsticks

davidr1964 said:

Don't feed the troll.

I'm not sure the OP is a troll - but more likely someone who isn't particularly au fait with the ups and downs of investing and has  seen what is probably a relatively small pension pot drop what to them represents a considerable amount of money and is now angry and panicking.

indiasign

OP, if you genuinely want advice (rather then just having a rant), you probably need to provide more information.

How much, in percentage terms, has your pension pot dropped? As Prism has said, most funds are down.

Who chose the fund your pension is invested in?

What is it you think Pension Bee should have done, but hasn’t, or has done, but shouldn’t have, that has caused the loss?

And why do you think you have been “robbed”?

indiasign

So less than any of the funds referred to by Prism?

And you haven’t been robbed, it’s simply that the value of your, and millions of other people’s investments, have fallen, because of the (perfectly valid) market volatility reasons Pension Bee have given you.

Like you, I know nothing about investing, but 2 minutes searching this forum will show you dozens of threads on this subject

Rtayl306

Emmia said:

Rtayl306 said:

9 percent of my investment in PensionBee which evaluates to a lot of money to me, so I think I have the right to rant, seeing I'm close to retirement & I trusted these clowns.  So who's robbed my 9 percent, the idiots that invested it at PensionBee, simple.  

Markets (into which your pension is invested) are down, so your pension is down... they've not robbed you directly - they picked stocks/funds that haven't performed better than the market (and even if they had, you might still be down, but by less) 

How long have you been with PensionBee?

Since Dec 21.  To see my hard saved pension be decimated isn't nice.  I will now have to put of my retirement which I was hoping to take in two years time  so I think I have the right to have my say on pension company's, especially pensionbee as they are the one who have lost fourteen grand of my pension.