Anyone get a revised Pension Statement

torrevieja

Just got mine I lost €5000 already on value including Administration plan fee etc

You might be in for a shock ouch

Jim2007

torrevieja wrote: »

Just got mine I lost €5000 already on value including Administration plan fee etc

You might be in for a shock ouch

Unless you are going to retire in the next 24 months or have been doing some funny self directed thingy, it does not amount to a hill of beans.

torrevieja

Jim2007 wrote: »

Unless you are going to retire in the next 24 months or have been doing some funny self directed thingy, it does not amount to a hill of beans.

Well €5000 Jimmy is a lot of beans for me, ""Ur funny self directed thingy"" are u alright there !

Jim2007

torrevieja wrote: »

Well €5000 Jimmy is a lot of beans for me, ""Ur funny self directed thingy"" are u alright there !

It would if you'd lost it, but you did not. It makes no difference to your current economic situation, whether it is up 20k or down 40k... it only matters when you get to cash out and in the years leading up to that, your pension would have been moved to cash in any case.

Anyone retiring in say the next 3 or 4 years, will have seen little change in the valuation because it will have been already moved to a defensive position.

The self directed thingy, is when people think they know better than the pension fund advisors and managers, and instead go ahead and make their own asset allocations.... that often ends badly.

Over my 35 years working life, I've been through 5 - 7 economic crisis and seen my pension down 47% at the lowest point, but in the end the annualised return was 9.81%.

You are going to live through at least a few recessions and there is nothing you can do about it, which is actually a good thing, so the best think is to just ignore it for a few years.

EverythingGood

torrevieja wrote: »

Well €5000 Jimmy is a lot of beans for me, ""Ur funny self directed thingy"" are u alright there !

unless you are retiring next year that 5k wont matter, pensions are long terms investment vehicles.

NIMAN

OP< lost 5k over what time span?
The last year?

Jim2007

EverythingGood wrote: »

unless you are retiring next year that 5k wont matter, pensions are long terms investment vehicles.

Even if you are retiring next year, at that point 5k should at least be only a single digit loss...

torrevieja

Jim2007 wrote: »

It would if you'd lost it, but you did not. It makes no difference to your current economic situation, whether it is up 20k or down 40k... it only matters when you get to cash out and in the years leading up to that, your pension would have been moved to cash in any case.

Anyone retiring in say the next 3 or 4 years, will have seen little change in the valuation because it will have been already moved to a defensive position.

The self directed thingy, is when people think they know better than the pension fund advisors and managers, and instead go ahead and make their own asset allocations.... that often ends badly.

Over my 35 years working life, I've been through 5 - 7 economic crisis and seen my pension down 47% at the lowest point, but in the end the annualised return was 9.81%.

You are going to live through at least a few recessions and there is nothing you can do about it, which is actually a good thing, so the best think is to just ignore it for a few years.

Jimmy you know and I know on hindside if I had put it under the bed all these many years of be better off,

torrevieja

NIMAN wrote: »

OP< lost 5k over what time span?
The last year?

Yes

Jim2007

torrevieja wrote: »

Jimmy you know and I know on hindside if I had put it under the bed all these many years of be better off, Ur obviously a pension adviser

Nope. But I did to performance and attribution reporting as required by Swiss law on pension funds and what I can say, is that based on this post and your other post on pensions, that it is highly likely that you will end up with a smaller pot on retirement than your peers.

adox

I’d guess that 5k is well below the average.

28064212

torrevieja wrote: »

Jimmy you know and I know on hindside if I had put it under the bed all these many years of be better off,

Really? Your pension is worth less than the net amount of your salary that you contributed?

NIMAN

NIMAN wrote: »

OP< lost 5k over what time span?
The last year?

Mine lost £25000 over a month when all this virus stuff started.

Macker1

I do keep a eye on my pension fund just to check that its going in the right direction so would logon from time to time on the Mercer Portal

Pension was flying high at +57% on 23Feb20

Covid-19 hits

Pension had dropped to +21% on 24Mar20

This represented a actual drop of around 33k in that spell.....:eek::eek::eek:

At that point I was no longer looking at the figures. What was the point of getting upset. Not as if I was going to be the only person affected

Thankfully it heading back in the right direction and I have another 15 years before retirement.

Another investment with Irish Life is down around 10% which equates to around 5k

Long Term it will bounce back

NIMAN

Macker1 wrote: »

I do keep a eye on my pension fund just to check that its going in the right direction so would logon from time to time on the Mercer Portal

Pension was flying high at +57% on 23Feb20

Covid-19 hits

Pension had dropped to +21% on 24Mar20

This represented a actual drop of around 33k in that spell.....:eek::eek::eek:

At that point I was no longer looking at the figures. What was the point of getting upset. Not as if I was going to be the only person affected

Thankfully it heading back in the right direction and I have another 15 years before retirement.

Another investment with Irish Life is down around 10% which equates to around 5k

Long Term it will bounce back

Decided to have another little look tonight at my pension online, I had taken fear of looking due to CV19:mad:
To recap : It had dropped approx £25k between the figures I had seen at the end of Jan 2020 and then at the end of March 2020, as CV19 kicked in.

So I got a pleasant surprise tonight to see that its back up £35k since then, so actually £10k higher than where it was at the end of January.

Just goes to show that its best not to be scared by short term losses on a pension?

(of course that isn't to say if the world is hit by a deep recession I may see heavy losses again)

hurikane

NIMAN wrote: »

Decided to have another little look tonight at my pension online, I had taken fear of looking due to CV19:mad:
To recap : It had dropped approx £25k between the figures I had seen at the end of Jan 2020 and then at the end of March 2020, as CV19 kicked in.

So I got a pleasant surprise tonight to see that its back up £35k since then, so actually £10k higher than where it was at the end of January.

Just goes to show that its best not to be scared by short term losses on a pension?

(of course that isn't to say if the world is hit by a deep recession I may see heavy losses again)

What funds are you in?

NIMAN

hurikane wrote: »

What funds are you in?

I am not too knowledgeable about the ins and outs of pensions, but it's all with Baillie Gifford fund management thru Aviva UK.