|
| If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|||||||
| UK Finance (uk.finance) Discussion about Finance issues in the UK. |
|
|
Thread Tools | Display Modes |
|
#1
February 25th 10, 01:00 PM
posted to uk.finance
|
|||
|
|||
Pension fund figure v.s amount paid in
Hi,
when I started working at my present firm two years ago I signed up for their pension scheme with Fidelity - I contribute 5% of my salary to the scheme and my firm matches it. I got a statement of my pension options this month and was surprised to see that although total contributions by me and my firm have been £7010, my retirement fund is £5050. Is this level of fees , comission, call it what you will, normal? Regards, |P 
|
| Ads |
|
#2
February 25th 10, 02:33 PM
posted to uk.finance
|
|||
|
|||
|
Pension fund figure v.s amount paid in
On Feb 25, 1:00*pm, goodolpete wrote:
Hi, *when I started working at my present firm two years ago I signed up for their pension scheme with Fidelity - I contribute 5% of my salary to the scheme and my firm matches it. I got a statement of my pension options this month and was surprised to see that although total contributions by me and my firm have been £7010, my retirement fund is £5050. * Is this level of fees , comission, call it what you will, normal? It is daft isn't it? presumably also their investments have not done very well. But when you think about it, if they take 1 or 2% 'management fee' every year for the whole period you are paying in (say 40 years) then they will have taken about half the pot by the time you get your pension. Robert
|
|
#3
February 25th 10, 11:17 PM
posted to uk.finance
|
|||
|
|||
|
Pension fund figure v.s amount paid in
goodolpete wrote:
contributions by me and my firm have been £7010, my retirement fund is £5050. Is this level of fees , comission, call it what you will, normal? Regards, You are quite likely to find a lot of the first year goes in commission, Also the stock market did crash.
|
|
#4
February 26th 10, 08:47 AM
posted to uk.finance
|
|||
|
|||
|
Pension fund figure v.s amount paid in
On 25/02/2010 13:00, goodolpete wrote:
Hi, when I started working at my present firm two years ago I signed up for their pension scheme with Fidelity - I contribute 5% of my salary to the scheme and my firm matches it. I got a statement of my pension options this month and was surprised to see that although total contributions by me and my firm have been £7010, my retirement fund is £5050. Is this level of fees , comission, call it what you will, normal? Regards, |P If you look at the illustration Fidelity will have given you at outset you will see what the charges are and also how much you could expect in the fund at the end of 1, 2, 3, 4 years - regardless of any commission. I expect the charges are less than 1% but you can find out. The illustration will be based on a certain fund growth rate (6%). Did your fund make this? Have the values of units actually gone down during this period? Do you know what fund you are in? Why did you choose that fund? Would you be better in another fund? How have these funds done against their peers over the last 10 years? These are questions that I suggest anyone who has more than a passing interest in their own pensions should be asking. Rob Graham
|
|
#5
February 26th 10, 12:23 PM
posted to uk.finance
|
|||
|
|||
|
Pension fund figure v.s amount paid in
On Fri, 26 Feb 2010 08:47:12 +0000, Rob Graham
wrote: On 25/02/2010 13:00, goodolpete wrote: Hi, when I started working at my present firm two years ago I signed up for their pension scheme with Fidelity - I contribute 5% of my salary to the scheme and my firm matches it. I got a statement of my pension options this month and was surprised to see that although total contributions by me and my firm have been £7010, my retirement fund is £5050. Is this level of fees , comission, call it what you will, normal? Regards, |P If you look at the illustration Fidelity will have given you at outset you will see what the charges are and also how much you could expect in the fund at the end of 1, 2, 3, 4 years - regardless of any commission. I expect the charges are less than 1% but you can find out. The illustration will be based on a certain fund growth rate (6%). Did your fund make this? Have the values of units actually gone down during this period? Do you know what fund you are in? Why did you choose that fund? Would you be better in another fund? How have these funds done against their peers over the last 10 years? These are questions that I suggest anyone who has more than a passing interest in their own pensions should be asking. I know which funds I'm in. I don't know which funds I should be in  -- AnthonyL
|
|
#6
February 26th 10, 12:35 PM
posted to uk.finance
|
|||
|
|||
|
Pension fund figure v.s amount paid in
On 26/02/2010 12:23, AnthonyL wrote:
On Fri, 26 Feb 2010 08:47:12 +0000, Rob Graham wrote: On 25/02/2010 13:00, goodolpete wrote: Hi, when I started working at my present firm two years ago I signed up for their pension scheme with Fidelity - I contribute 5% of my salary to the scheme and my firm matches it. I got a statement of my pension options this month and was surprised to see that although total contributions by me and my firm have been £7010, my retirement fund is £5050. Is this level of fees , comission, call it what you will, normal? Regards, |P If you look at the illustration Fidelity will have given you at outset you will see what the charges are and also how much you could expect in the fund at the end of 1, 2, 3, 4 years - regardless of any commission. I expect the charges are less than 1% but you can find out. The illustration will be based on a certain fund growth rate (6%). Did your fund make this? Have the values of units actually gone down during this period? Do you know what fund you are in? Why did you choose that fund? Would you be better in another fund? How have these funds done against their peers over the last 10 years? These are questions that I suggest anyone who has more than a passing interest in their own pensions should be asking. I know which funds I'm in. I don't know which funds I should be in In which case you need to do some research or take some advice. Rob
|
|
#7
February 26th 10, 10:04 PM
posted to uk.finance
|
|||
|
|||
|
Pension fund figure v.s amount paid in
Rob Graham wrote:
On 26/02/2010 12:23, AnthonyL wrote: I know which funds I'm in. I don't know which funds I should be in In which case you need to do some research or take some advice. I think he means that he will only know that after the fact, and no-one, without a time machine, can give him the right answer, other than by luck.
|
|
#8
February 27th 10, 08:54 AM
posted to uk.finance
|
|||
|
|||
|
Pension fund figure v.s amount paid in
On 26/02/2010 22:04, David Woolley wrote:
Rob Graham wrote: On 26/02/2010 12:23, AnthonyL wrote: I know which funds I'm in. I don't know which funds I should be in In which case you need to do some research or take some advice. I think he means that he will only know that after the fact, and no-one, without a time machine, can give him the right answer, other than by luck. While that's very true, the OP hasn't said whether the charges (which will have been explained to him) are causing the problem or is it just the way the bit of the stockmarket that applies to him has behaved. Rob
|
| Thread Tools | |
| Display Modes | |
|
|
Linear Mode
