Utmost Performance and advice on how to save my Pension Pot.

dunstonh

I have no idea.  If I find it I'll let you know.  But by 2022 the fund was down £2,796.48 and that was after a £10.78 profit for that year. So, Im guessing the 2021 statement showed a £2,807.26 loss.

2020 and 2021 were positive years.   Nov 2021 was the peak of market.   So an April 2021 statement would not be lower than the March/April 2020 statement. 
2018 was the only negative year in recent times prior to that.

The main thing is that over the period since Utmost took over my fund it has consistently lost value and i don;t know whether to cut my losses or not..

Irrelevant what logo is in the corner.  Replace it with any logo and invest in a similar risk level and you would have had similar losses.

Why would you pull out after a negative period in 2022 when you have been through worse negative periods and all the growth years in between?   The only difference is you didn't see them before as you were not looking.   So, the answer is to stop looking now.

Sarahspangles

MrDidz said:

Albermarle said:

I have reread the thread and nobody accused you of making bad investments.

The point is that at the moment I have no control at all over where my money is invested.  In fact, at the moment I don;t even know how it has been inversed.  So, I'm not sure how I can be blamed for making poor investments.

I had a pension pot that Legal & General were looking after and my perception is that it went down significantly from the point that the pandemic started. It was in their ‘default’ fund because i hadn’t time or headspace when it was first set up to do anything else. There may have been some periods of recovery along the way, but the war in Ukraine then started.

So if it’s any consolation lots of people must be in the same boat - that’s if you mainly look at the timeframe 2019 to now. I know a lot of us are focussing on that timeframe because the pandemic resulted in people having job changes, periods when they spent savings etc.

I just had a look at Utmost’s website. I didn’t know they used to be Reliance Life (I had heard of them). I think you do have control over where your money is invested, do your statements have details of how to set up access or log in? At the point you have access, what you do next depends on whether you want to upskill yourself about investments - which involves an investment of time. This page has the fund options.

https://www.utmost.co.uk/investment-funds/fund-information-heritage-equitable-life-joining-utmost-1-january-2020/ 

I think you need to find out whether you have the option of moving your pot out of Utmost - maybe you give up some protection if you move it to another platform? It would give you more choice and maybe reduce fees.

I do think taking it out as cash may be a daft idea, you just lock in the losses and end up paying tax on a big chunk of it. But I understand that anyone who went through the Equitable Life disaster must have little faith in financial organisations