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When to Draw Down the Pension???

  • 24-07-2010 2:47pm
    #1
    Goodgolfer
    Registered Users, Registered Users 2 Posts: 35 ✭Goodgolfer


    I have a couple of defined contribution pension schemes both of which give me the choice as to when I draw down the pensions.

    I am not in need of the pension money at the moment but am still considering when is the best time to do it.

    The fund values are generally linked to the rise and fall of the stock markets. So the question really revolves on how world stock markets are going to behave over the next few years.

    If I had done it three years ago I would be now on the pigs back!!:pac:

    I seem to remember reading that in 2011 the ARF process will be made available to all?

    So is there anybody out there in the same situation or is there anybody out there who has examined the entrails of a chicken to see which way the stock markets will move over the coming months/years??

    My financial adviser is getting splinters from sitting on the fence:D

    Ta..:)


Comments

  • #2
    Jeremy Young Vent
    Posts: 0 CMod ✭✭✭✭ Jeremy Young Vent


    If you were considering drawing down the pensions shortly your adviser must have told you to start switching over to cash/bonds :confused:
    I'd be sitting on the fence too now tbh, normally I'd say look at cash but given the recent crash you might want to think about trying to get some money up again. Think they haven't been doing too badly over the last month or so but a bit touch and go :confused:


  • #3
    Goodgolfer
    Registered Users, Registered Users 2 Posts: 35 ✭Goodgolfer


    Thanks bluewolf...yes that is the dilemma - hence sitting on the fence. I would like to get back some of my losses. If I switch to cash any growth potential will be lost and I will end up feeling sick as a parrot.

    Fund values today are about at Jan 2010 levels. The year so far has had its ups and downs. Provided the infamous double dip does not occur I suppose we should see growth through the autumn and winter...but who knows???:confused:


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