Retirement



I have a private pension and just hoyed a £5,000 lump sum in on Saturday, with the HMRC tax top up that takes it to £6250. Imagine my surprise when I checked today to see the overall value has dropped by about £4,000 since Saturday. I know it's a long term investment but it doesn't half knock your plug in seeing £4,000 disappear just like that when you've just hoyed it in.
Aye, I know the feeling. £ drops, USD drops, FTSE drops, Dow jones loses 0.1% and mine takes a good hiding, then one day I look and it’s jumped a few grand. I just shrug and check mine once or twice a month now as it’s going in the right direction overall and remind meself that it’s only lost money if I cashed in/sold holdings.
 
Have the amounts def cleared ? Can often take a few working days and depends on the provider if the hmrc tax is added straightaway or not
Not 100% sure but it does show up in contributions along with the HMRC top up. I'll give it a few days and check again.
 
I have a private pension and just hoyed a £5,000 lump sum in on Saturday, with the HMRC tax top up that takes it to £6250. Imagine my surprise when I checked today to see the overall value has dropped by about £4,000 since Saturday. I know it's a long term investment but it doesn't half knock your plug in seeing £4,000 disappear just like that when you've just hoyed it in.

The route to insanity is checking long term investments every day. My pension pit can go up or down by over a thousand in a single day. You just have to hope that there are more good days than bad ones.
 
Young Bresslaw is 20 and works at a large organisation but doesn't get any company pension yet. Is it right that if he starts paying into one his company have to make a contribution?
 
Young Bresslaw is 20 and works at a large organisation but doesn't get any company pension yet. Is it right that if he starts paying into one his company have to make a contribution?

He can start his own personal pension and pay into it (and then get tax relief). When he qualifies for a company pension then they will probably set him up with one in their own scheme. It can't hurt to ask if they will pay into his existing one but most employers won't as it's extra admin for them. Or he could perhaps transfer his personal pension into the company one.

Perfectly normal to have collected multiple pensions over a working career. I have my current one and have merged all of my previous ones, along with a personal pension I setup when self-employed into a single scheme to make it all easier to track. When you are 60 you don't want to have to remember what policies you have from 40 years ago.
 
He can start his own personal pension and pay into it (and then get tax relief). When he qualifies for a company pension then they will probably set him up with one in their own scheme. It can't hurt to ask if they will pay into his existing one but most employers won't as it's extra admin for them. Or he could perhaps transfer his personal pension into the company one.

Perfectly normal to have collected multiple pensions over a working career. I have my current one and have merged all of my previous ones, along with a personal pension I setup when self-employed into a single scheme to make it all easier to track. When you are 60 you don't want to have to remember what policies you have from 40 years ago.
Must have misheard that Martin Lewis on 5Live.
 
Maybe they want to check on those claiming pension credit. I know one woman who deposited her money with her children when she sold up in Spain and returned home so that she could claim pension credit.
Then surely they would just pass an amendment to look into the bank accounts of those claiming pension credit. I suspect that already exists though.
 
The route to insanity is checking long term investments every day. My pension pit can go up or down by over a thousand in a single day. You just have to hope that there are more good days than bad ones.
Right now we are buying cheap as chips units. Over the next 10 years investments will pick up and the growth will come through.
 
Right now we are buying cheap as chips units. Over the next 10 years investments will pick up and the growth will come through.

Yup as the old saying goes "it's time in the market which counts not timing the market"

Just lay back and trust in the miracle of compound growth.
 
I have 14 years on the old terms and left when TP’d Grade7 but guessing it will go on whatever my SEO salary was when I left x index linked. No idea what it will be worth now or in a few years but I’m guessing it will be decent.
14/80 the SEO salary when you left plus why ever increases it’s had since
 

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