Pension advise please



Seek. Financial. Advice.

(From somewhere other than the SMB)

Problem is no IFA will give him advice which is worth it compared to the value of his fund.

I work in financial services with an IFA division and we wouldn’t even take the call.

Pension Wise as suggested but remember it’s only guidance they won’t tell you what to do.

Edit - lives abroad as well so advice would be even more expensive!
 
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Problem is no IFA will give him advice which is worth it compared to the value of his fund.

I work in financial services with an IFA division and we wouldn’t even take the call.

Pension Wise as suggested but remember it’s only guidance they won’t tell you what to do.

Edit - lives abroad as well so advice would be even more expensive!

Piss off Ross.
 
Nice one. Guessing it was a final salary one.
No. I will be cashing it on when I can to buy a house here or back in UK.
If I work here for 15 years I also qualify for the local government pension. 15 years gives you about €500 euro a month plus my UK government pension.
I'm wishing my life away here 😳
 
Problem is no IFA will give him advice which is worth it compared to the value of his fund.

I work in financial services with an IFA division and we wouldn’t even take the call.

Pension Wise as suggested but remember it’s only guidance they won’t tell you what to do.

Edit - lives abroad as well so advice would be even more expensive!

Independent financial advisor. Like mine. Who I consulted today. To rescue significant portions of my pension fund from crashing any further with only 6 months left before I retire. f***ing Coronavirus panic. Bloody markets.
 
No. I will be cashing it on when I can to buy a house here or back in UK.
If I work here for 15 years I also qualify for the local government pension. 15 years gives you about €500 euro a month plus my UK government pension.
I'm wishing my life away here 😳
You can get two state pensions? Was that the master plan.
 
Independent financial advisor. Like mine. Who I consulted today. To rescue significant portions of my pension fund from crashing any further with only 6 months left before I retire. f***ing Coronavirus panic. Bloody markets.

It'll probably be recovered in 4 months
 
Problem is no IFA will give him advice which is worth it compared to the value of his fund.

I work in financial services with an IFA division and we wouldn’t even take the call.

Pension Wise as suggested but remember it’s only guidance they won’t tell you what to do.

Edit - lives abroad as well so advice would be even more expensive!

I’m a financial consultant and sadly this is true. I think pension wise is probably your safest bet.
Independent financial advisor. Like mine. Who I consulted today. To rescue significant portions of my pension fund from crashing any further with only 6 months left before I retire. f***ing Coronavirus panic. Bloody markets.

The biggest upsides in the market normally follow the biggest sell offs so hopefully things improve for you quickly. Does your pension fund not automatically de risk your holdings as you get closer to retirement (it’s called lifestyling)?
 
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People of various ages on the pension treadmill should consider in a lifetime of working say 6 companies/ takeovers plus a couple of house moves will result in trying to keep count via the pension tracing service of where the pension pots are. I suppose cashing them in simplifies the filing system but not necessarily the best return, nevertheless a minefield.
 
It'll probably be recovered in 4 months

I understand

But ‘Probable’ is a risky concept a month after you’ve given notice. Maybe if I had the option of waiting for recovery... but this is the rest of my life with no prospect of rescue to previous levels if ‘probable’ takes a bit longer.
I’m a financial consultant and sadly this is true. I think pension wise is probably your safest bet.


The biggest upsides in the market normally follow the biggest sell offs so hopefully things improve for you quickly. Does your pension fund not automatically de risk your holdings as you get closer to retirement (it’s called lifestyling)?

I have 4 funds. Two are ‘final salary’. So no problem. One is an automated managed risk - which will probably rebalance. But the major source of funds is a larger consolidated fund that’s currently awaiting transfer to a pension account. There was a rather alarming difference in the amounts between a phone quote and then the previous balance from a couple of days arriving in the post the next day. The trend was evident. I could have waited. And risk another drop that I wouldn’t have time to recover, deferring retirement until thins settle, or transferring to a cash ‘pension desposit’ safer place. I chose the latter. After advice.
 
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People of various ages on the pension treadmill should consider in a lifetime of working say 6 companies/ takeovers plus a couple of house moves will result in trying to keep count via the pension tracing service of where the pension pots are. I suppose cashing them in simplifies the filing system but not necessarily the best return, nevertheless a minefield.
In my youth I must have worked for at least 10 different construction companies and tracking them down now is almost impossible. There's only one still trading and of the others there's only a couple I know the names of. The rest I could only guess at, one company was called Crawfords but was it Crawfords, Crawfords Construction or Crawford Brothers? All three "Crawfords" building companies were operating in Sunderland at the same time.
I know when my father died before pension age my mother had terrible trouble tracking down his pensions because he spent a lifetime in construction. She just couldn't remember every company he worked for.
 
In my youth I must have worked for at least 10 different construction companies and tracking them down now is almost impossible. There's only one still trading and of the others there's only a couple I know the names of. The rest I could only guess at, one company was called Crawfords but was it Crawfords, Crawfords Construction or Crawford Brothers? All three "Crawfords" building companies were operating in Sunderland at the same time.
I know when my father died before pension age my mother had terrible trouble tracking down his pensions because he spent a lifetime in construction. She just couldn't remember every company he worked for.
This may help.
 
I looked into that before. They require name and address of the company you worked for and as I said I don't remember the correct names never mind the addresses of half the builders I worked for. It was 35-45 years ago after all.
I also seem to remember we had to pay into a holiday scheme every week and this also included a small retirement and death benefit element which went into a retirement pot. I think the construction industry scheme was called Batic or something similar.
 
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I also seem to remember we had to pay into a holiday scheme every week and this also included a small retirement and death benefit element which went into a retirement pot. I think the construction industry scheme was called Batic or something similar.
That would be the B&CE scheme.
 
Batic (spelling) was closed down or bought out by another company years ago as far as I'm aware. I know it doesn't exist anymore.
Found it, it was called Batjic and I've got the grand sum of over £16 English pounds which was transferred over to another pension company when they ceased trading. Now what should I invest it in?
 
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