Pensions

[yeo]

Spend your pension money on fags and beer,you will have fun and die before you need a pension

[Simon Pieman]

I've decided pensions are too lame and I'd be better off putting money in high interest accounts instead. Unfortunately that involves putting money in high interest accounts, which I haven't done to date.

I started paying back my student loan this month. They took a whole £1 out of my pay. I wasn't happy.

[Samdy Gray]

SIPPS are the way to go.

[Simon Pieman]

Oh yeah, what I can invest in largely depends which firm I work for. Mega gayness.

[Barry Scott]

Can you invest within JP Morgan Investment Trust ISAs and OEICS?

They've got some fucking superb funds.

[Fred Elliot]

Speak to OrangeJock (or whatever his name is...........cant be bothered to search for it now).................he works for JPM in Luxembourg and will have the inside track

[Barry Scott]

Bob's Orange?

Yeah, my mate does as well, they kinda know each other. 2 town fans meeting at the same job in another country? Strange. :?

I wondered whether Si Pi could invest with JP Morgan, what with his restrictions and all.

[Fred Elliot]

Thats him Barry

I can draw my pension in another 6 years, Going to get as much as I can out and going to buy a place in Brittany

End of

[manc red]

I believe its run by Legal and General Investment Management.  Is that a good or bad thing?

[STFC Village]

Got all my pension money back off the NHS yesterday, after opting out.

Mega bonus

[Fred Elliot]

That is who mine is with, they change structures sometimes, but have been fair with mine mate. I have had mine since I was 20, and have paid AVC's and everything and in all honesty, I would have been better taking out a second mortgage, securing it on the equity of my existing property and getting someone like Ash to manage the situation for me.

It's difficult really though, I was brought up at a time when personal investment, apart from a building society account and a mortgage was all that was on the cards, and Mum and Dad gave it the big "oh you have to have a pension, you need to look after your future and that of you family's"

However, times have changed, and it all depends on the contributions that your employers are willing to make, and whether it is a stakeholder (lip service to His Royal Tonyness) of final salary (highly unlikely---------as in Rocking Horse Shit)

To me (9 times out of 10 a misguided fool), I look at the return on my pension, then compare it to my investment and possible return if I had invested in bricks and mortar and there is no competition.

If your employer is prepared to contribute the same amount as you do monthly then by all means make a judgement call on the amount you contribute, because that makes sense.

Just be open minded enough to take a clear view on your investment opportunities

[Barry Scott]

I believe its run by Legal and General Investment Management.  Is that a good or bad thing?

I know nothing of Legal & General, but this is the fund fact sheet for the 70:30. It appears to be a pretty good fund, with decent past performance (No FSA past performance blurb!), there are better performing funds with similar investments, but some funds include charges, some are excluding charges. This always distorts the real picture.

http://www-05.ibm.com/employment/uk/pensions/GlobalEqty7030Index.pdf

This is the 15 year Gilt fund.

http://www-05.ibm.com/employment/uk/pensions/Over15YearGiltsIndex.pdf

The other gilts fund i cannot find, but then i found them on an IBM site anyway!

This appears to be the cash fund

http://www-05.ibm.com/employment/uk/pensions/CashFund.pdf

Nothing to do with any of the funds is extraordinary, they're just your normal bog standard long term investment type funds. It really comes down to the potential growth, the security you're after and whether you consider pensions a viable investment vehicle.

Speak to an Adviser at work. Listen to the blurb, check the charges and go from there.

[neville w]

I've decided pensions are too lame and I'd be better off putting money in high interest accounts instead. Unfortunately that involves putting money in high interest accounts, which I haven't done to date.

You are joking, right ?.

[Samdy Gray]

I've decided pensions are too lame and I'd be better off putting money in high interest accounts instead. Unfortunately that involves putting money in high interest accounts, which I haven't done to date.

You are joking, right ?.

He's an accountant so you'd hope he was, but I don't think he is.

[Barry Scott]

I've decided pensions are too lame and I'd be better off putting money in high interest accounts instead. Unfortunately that involves putting money in high interest accounts, which I haven't done to date.

You are joking, right ?.

I think he's serious. Bar the tax benefits i think pensions are a complete waste of time, even with the new legislation.

Far too many restrictions on your money, you get excessively charged throughout the term of a plan, then purchase a wank annuity which only enables the seller of which to profit. I see pensions as lose, lose.

On the other hand, you get a maxi ISA, 7k tax free investment per year and run that for 20+ years. The charges on most ISAs i have experience with have annual charges at less than stakeholder, although you will pay stamp, and you have the same funds, plus extras. At any time you can surrender the plan in full with no tax issues and do with the money as you see fit.

With pensions you could reach 47, you're short of cash, you can't have your pension, you're fucked basically.

You then wait till you're 50, to be told the government has moved the goal posts and you have to wait to 55 to get the pension. Then when you do get it, depending on the value, you can only get a small percentage of the find value per annum plus a lump sum. No comparison in my eyes.