How has your scheme performed?

scrooge2008

There is absolutely no grounds for complaint.   You shouldnt give the OP false information as its clear they are already low on knowledge.  Giving them duff info doesnt help them.

I don't agree that there is no grounds for complaint.  These funds are often sold as very low risk and for people nearing retirement and there was never any indication that there could be a 20% drop in the fund value at the crucial stage of the investment cycle.

bostonerimus

scrooge2008 said:

There is absolutely no grounds for complaint.   You shouldnt give the OP false information as its clear they are already low on knowledge.  Giving them duff info doesnt help them.

I don't agree that there is no grounds for complaint.  These funds are often sold as very low risk and for people nearing retirement and there was never any indication that there could be a 20% drop in the fund value at the crucial stage of the investment cycle.

I’m a bleeding heart liberal, but when it comes to personal finances unless there is an obvious scam I think people should take responsibility for their decisions. 

scrooge2008

bostonerimus said:

scrooge2008 said:

There is absolutely no grounds for complaint.   You shouldnt give the OP false information as its clear they are already low on knowledge.  Giving them duff info doesnt help them.

I don't agree that there is no grounds for complaint.  These funds are often sold as very low risk and for people nearing retirement and there was never any indication that there could be a 20% drop in the fund value at the crucial stage of the investment cycle.

I’m a bleeding heart liberal, but when it comes to personal finances unless there is an obvious scam I think people should take responsibility for their decisions. 

Yes, but where do they get the correct information to make these decisions? 

bostonerimus

scrooge2008 said:

bostonerimus said:

scrooge2008 said:

There is absolutely no grounds for complaint.   You shouldnt give the OP false information as its clear they are already low on knowledge.  Giving them duff info doesnt help them.

I don't agree that there is no grounds for complaint.  These funds are often sold as very low risk and for people nearing retirement and there was never any indication that there could be a 20% drop in the fund value at the crucial stage of the investment cycle.

I’m a bleeding heart liberal, but when it comes to personal finances unless there is an obvious scam I think people should take responsibility for their decisions. 

Yes, but where do they get the correct information to make these decisions? 

There is plenty of information freely available in fund literature, investment company websites and generally on the web. People are too willing to stick their their in the sands and don't do the small amount of research and take the simple steps to succeed.  However, I cut them, and the funds, some slack if they were invested in funds with high bonds allocations which have seen significant falls. Now the funds should have done better at factoring in duration risk as well as credit risk, but the people to blame are Liz Truss, BoE, Putin...and anyone else who you think might have contributed to inflation and rising interest rates, take your pick.

garyelder

My pension pot started at 520k in June 21 reached 540k then bang went to 470k now at 505k and steadily rising for now 
May take 15k next April 24 I’m 61 at present 

bostonerimus

garyelder said:

My pension pot started at 520k in June 21 reached 540k then bang went to 470k now at 505k and steadily rising for now 
May take 15k next April 24 I’m 61 at present 

You need to have a withdrawal plan to work in all market eventualities and combine that with a budget and spending plan. Part of my retirement plan involves steps to minimize the income aid need to live on, for example I had paid off my mortgage and max e sure the house was in good repair.

Malthusian

scrooge2008 said:

There is absolutely no grounds for complaint.   You shouldnt give the OP false information as its clear they are already low on knowledge.  Giving them duff info doesnt help them.

I don't agree that there is no grounds for complaint.  These funds are often sold as very low risk and for people nearing retirement and there was never any indication that there could be a 20% drop in the fund value at the crucial stage of the investment cycle.

If you can find anywhere where Scottish Widows claimed the Fixed Interest fund was "very low risk" it might be worth chancing your arm. (Others may disagree but to me that would be in the same category as the "cautious managed" scandal of 2009.) I strongly suspect there won't be.
The original assertion was that there is grounds for complaint if your fund manager has underperformed the index, which is nonsense. Poor performance is not grounds for a complaint. It is the risk you take by investing in an actively managed fund.

Albermarle

scrooge2008 said:

bostonerimus said:

scrooge2008 said:

There is absolutely no grounds for complaint.   You shouldnt give the OP false information as its clear they are already low on knowledge.  Giving them duff info doesnt help them.

I don't agree that there is no grounds for complaint.  These funds are often sold as very low risk and for people nearing retirement and there was never any indication that there could be a 20% drop in the fund value at the crucial stage of the investment cycle.

I’m a bleeding heart liberal, but when it comes to personal finances unless there is an obvious scam I think people should take responsibility for their decisions. 

Yes, but where do they get the correct information to make these decisions? 

The same way you get information for making any important decisions. By spending some time researching/googling/discussing with someone with knowledge of the area.