LGPS / AVC / Prudential - At a loss!!

Albermarle

WhamBar1970 said:

Hi

I thought it was about time I addressed this issue.  I started paying additional contributions to an AVC with Prudential in 2016.  I invested at a Medium Risk with:  Prudential S3 Index-Linked Pen and  Prudential S3 Long-Term Bond Pen.  I was unsure I have to admit how to invest it and very little advice is given.  I have contributed a total of £13,500 to date.  Contributions were off and on due to personal circumstances at the time.  My balance to date is now £8,900.59!!!.  Every time I check it, it seems to go down.  What am I to do?  Should I get a financial advisor for this little amount.  I could lose the lot by the time I retire. 
Any advice is appreciated.

  

The sums involved are too small for a financial advisor to be interested, and/or the cost would be prohibitive.

Unfortunately many people like yourself are caught in the middle when it comes to financial products.
The pension providers will only ever offer you general guidance and not personal advice. Financial advisors are usually only interested in clients with a minimum £50K , often £100K minimum.

There are some modern provides such as robo advisors, where they will offer some very basic advice for an increased fee, but the Pru is not one of them.

The only real way out of the dilemma is to learn more about the subject yourself, at least enough not to make bad decisions.