Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 23rd Jul 12, 8:36 AM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: Pension funds warned over high fees
    • #1
    • 23rd Jul 12, 8:36 AM
    MSE News: Pension funds warned over high fees 23rd Jul 12 at 8:36 AM
    "Pensions Minister Steve Webb has urged companies that charge excessive fees to offer members fairer terms..."

Page 1
    • Pincher
    • By Pincher 23rd Jul 12, 10:50 AM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    • #2
    • 23rd Jul 12, 10:50 AM
    • #2
    • 23rd Jul 12, 10:50 AM
    When was the last time you heard someone saying: "I'm going into Accountancy to protect shareholder rights. I am going to preserve pension fund asset values with my life."? If so, are they still working?

    It's like the Catholic Church, !!!!!philes can smell the choir boys.
    Now that they are having scandals with the Vatican Bank, the corruption of the House of God by Mammon is complete.

    Honeypots are just too tempting for any one human.

    Funding for my artificially intelligent robots financial advisers and fund managers, please.
    Last edited by Pincher; 23-07-2012 at 10:54 AM.
    • bigbloke45
    • By bigbloke45 23rd Jul 12, 11:40 AM
    • 2,023 Posts
    • 35,555 Thanks
    bigbloke45
    • #3
    • 23rd Jul 12, 11:40 AM
    • #3
    • 23rd Jul 12, 11:40 AM
    Most of the charges went to pay fat commissions to salesmen, both direct and "independent".

    Most Insurance companies tried to dress up these costs by using compound interest devices to hide the true scale e.g. "capital" or "initial" units being levied ovet the first one or two yeas, in the main. Those that didn't lost market share e.g. CU Life, who opted for reduced allocation in the first two years.

    So, why should Insurance companies pay back the commission to policyholders?

    It's just another bit of politicking by people who obviously don't understand the first thing about the subject i.e how capital units really work.
  • Dellybear
    • #4
    • 23rd Jul 12, 11:55 AM
    advise greatly appreciated - PENSION
    • #4
    • 23rd Jul 12, 11:55 AM
    I started a pension for myself relatively late in life (40's). Now approaching mid fifties, I find the money which I have invested for over 10 years to be worth very little, compared to what I had hoped for. The future looks as bleak as ever and I can expect my actual retirement amount accrued to be extremely low (Low enough to ensure that I can't retire, anyway). The fund managers living very well on my hard earned only makes matters worse and I feel desperately let down my the whole thing.

    Should I say "sod it" and put the monthly pension amount into paying off the mortgage as quickly as possible instead?

    I really can't stand the thought of sitting on my hands simply hoping something will improve. I nearly dumped the pension 2 years ago, but my I F A talked me round and advised me not to do anything hasty as things are sure to improve. well that certainly didn't happen!! Shall I go for it and cancel my standing order and redirect it to the mortgage account?

    please help with any advise you may have - thanks
    • Pincher
    • By Pincher 23rd Jul 12, 12:25 PM
    • 6,516 Posts
    • 2,491 Thanks
    Pincher
    • #5
    • 23rd Jul 12, 12:25 PM
    • #5
    • 23rd Jul 12, 12:25 PM
    Shall I go for it and cancel my standing order and redirect it to the mortgage account?

    please help with any advise you may have - thanks
    Originally posted by Dellybear
    Option I
    _______

    Listen to professional advisers. They ripped you off.

    Option II
    _______

    Listen to total strangers on the Internet. Oh dear.

    Option III
    ________

    Learn, study, understand. Make you own decisions.

    Yes, I know, it takes intelligence, hard work, spare time
    and LOTS of luck. I studied, invested and LOST quite a bit: Equitable Life I would definitely have more money now if I just put it in a deposit account.

    I think I have more chance of winning with option III.
    Not a lot, but better than these professional weasels in suits.
    • gadgetmind
    • By gadgetmind 23rd Jul 12, 12:43 PM
    • 10,908 Posts
    • 8,900 Thanks
    gadgetmind
    • #6
    • 23rd Jul 12, 12:43 PM
    • #6
    • 23rd Jul 12, 12:43 PM
    please help with any advise you may have - thanks
    Originally posted by Dellybear
    Returns are low right now so don't let fees eat you alive. However, avoiding fees means that you need to do the leg work so that you can take charge of your own investments and not make a complete hash of it.
    I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.

    Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

331Posts Today

4,234Users online

Martin's Twitter