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Adding to the noob questions.....

My pensions seems to fluctuate throughout the month...and is down a chunk this month.

Is that related to the pound struggling/economy going wild due to Coronavirus etc?
My fund took a hammering in February. Stock markets took a big tumble last week, concerns over global supply chains seizing up, loss of production in the economy etc.

When the $ takes a tumble it is usually quite a sizeable fall in value as a lot of your stocks will be pegged to that currency.

I just take my monthly statements with a passing interest. It's 20/25 years to go for me before it will be divested, so ups and downs will be inevitable. I try not to panic, too much.
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Guest bernardblack

Thanks for the answers. Wouldn’t normally notice but it’s on my banking app now so it’s tough to not look

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On 23/03/2017 at 15:19, Blootoon87 said:

What are the chances of reaching pension age anyway? 50/50?

I have 1 brother and we have 10 cousins. So far 8 of us have made it, my brother is on the cusp, another cousin has a long way to go yet, and 2 died well before pension age.

Edited by Jacksgranda
Can't count
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14 hours ago, Le Tout P'ti FC said:

My fund took a hammering in February. Stock markets took a big tumble last week, concerns over global supply chains seizing up, loss of production in the economy etc.

When the $ takes a tumble it is usually quite a sizeable fall in value as a lot of your stocks will be pegged to that currency.

I just take my monthly statements with a passing interest. It's 20/25 years to go for me before it will be divested, so ups and downs will be inevitable. I try not to panic, too much.

Exactly.

Month to month is a tiny snapshot. Ride the lows. The worst thing you can do when the markets drop is move money into cash. You are then turning a paper loss into a physical real monetary loss - and of course you are then going to miss the inevitable sharp up turn in the markets.

Best advice - Time in the market, not timing the market.

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I've been paying into my pension for 13 years now and I genuinely have no idea what plan I'm on or how it's doing. I've always thought I'm probably going to be working till I die anyway so whats the fucking point, but reading this thread I'm starting to think should maybe get a handle on things.

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Big question I'm asking myself now is whether to put spare money into the pension pot, or further overpay the mortgage (that I'm 7 years into) in order to bring the interest payments down. 

I could feasibly pay off the mortgage and save ~£30k in the long run if I put the monthly leftovers in the overpayment fund for the next 6 years, but there's conflicting thoughts about pension contributions being tax deductible etc etc.

A nice dilemma to have I suppose.

Edited by Hedgecutter
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I've been paying into my pension for 13 years now and I genuinely have no idea what plan I'm on or how it's doing. I've always thought I'm probably going to be working till I die anyway so whats the fucking point, but reading this thread I'm starting to think should maybe get a handle on things.

This is utter stupidity. Check it out.
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8 hours ago, Mallo_Madrid said:

Exactly.

Month to month is a tiny snapshot. Ride the lows. The worst thing you can do when the markets drop is move money into cash. You are then turning a paper loss into a physical real monetary loss - and of course you are then going to miss the inevitable sharp up turn in the markets.

Best advice - Time in the market, not timing the market.

Warren Buffet... ?

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1 hour ago, Hedgecutter said:

Big question I'm asking myself now is whether to put spare money into the pension pot, or further overpay the mortgage (that I'm 7 years into) in order to bring the interest payments down. 

I could feasibly pay off the mortgage and save ~£30k in the long run if I put the monthly leftovers in the overpayment fund for the next 6 years, but there's conflicting thoughts about pension contributions being tax deductible etc etc.

A nice dilemma to have I suppose.

As long as interest rates are below 5% your pension *should* earn more in the long run than you would save on the mortgage, as well as the free hit on tax.

Of course anything you put in the pension is locked in there, you can always free up equity from the house...

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Big question I'm asking myself now is whether to put spare money into the pension pot, or further overpay the mortgage (that I'm 7 years into) in order to bring the interest payments down. 
I could feasibly pay off the mortgage and save ~£30k in the long run if I put the monthly leftovers in the overpayment fund for the next 6 years, but there's conflicting thoughts about pension contributions being tax deductible etc etc.
A nice dilemma to have I suppose.
I've went with pensions. Tax relief and low interest rates for me plus I'll be mortgage free at 50.

Checked my pension funds yesterday off the back of this thread as well.
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Big question I'm asking myself now is whether to put spare money into the pension pot, or further overpay the mortgage (that I'm 7 years into) in order to bring the interest payments down. 
I could feasibly pay off the mortgage and save ~£30k in the long run if I put the monthly leftovers in the overpayment fund for the next 6 years, but there's conflicting thoughts about pension contributions being tax deductible etc etc.
A nice dilemma to have I suppose.
Just be careful, your annual allowance for payments into pension fund is £40k (you can carry forward from the last 3 tax years for additional as long as not over your current salary, burst the annual allowance and you get additional tax on it... Used to be £255k limit ) this amount includes company contribution too.

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52 minutes ago, weirdcal said:

Just be careful, your annual allowance for payments into pension fund is £40k (you can carry forward from the last 3 tax years for additional as long as not over your current salary, burst the annual allowance and you get additional tax on it... Used to be £255k limit ) this amount includes company contribution too.
 

I never earned £40,000 p/a, so I didn't have that problem.

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  • 4 weeks later...

Good grief man, we've been hit, we've been hit!

My monthly valuation made for pretty grim reading this morning. March had a fall in value big enough to take the fund back down to its October 2018 valuation, 17-months of savings wiped out.

Good time to buy, and a good time to cry.

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Good grief man, we've been hit, we've been hit!

My monthly valuation made for pretty grim reading this morning. March had a fall in value big enough to take the fund back down to its October 2018 valuation, 17-months of savings wiped out.

Good time to buy, and a good time to cry.
Fund prices can go down as well as up. A phrase I may have said about 40 times this week alone.

Some people are hilarious at the moment, apparently given the opportunity to pick your own funds mean I should personally be micromanaging it in order to stave off loses.

You wanna stick in equity when markets wobble, crack on.
You wanna invest it all in a cash fund (cash fund does not mean it's cashed and stays same value, see above about fund prices...) Crack on
Just don't come whining to me when it's dropped in value as if I can actually do something.


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Good grief man, we've been hit, we've been hit!

My monthly valuation made for pretty grim reading this morning. March had a fall in value big enough to take the fund back down to its October 2018 valuation, 17-months of savings wiped out.

Good time to buy, and a good time to cry.


Mine is similar, done a double take when I looked yesterday.
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  • 2 years later...

An older acquaintance of mine who's finally hit pension age has just swapped out his long-term partner for a richer retired dame following the realisation that he'll be forced to live in abject poverty for decades otherwise because he's built up no private pension savings.

Have any members of the P&B massive made this part of their long-term pension plan?  It certainly wasn't an option brought up in my recent meeting with the pensions advisor.

Edited by Hedgecutter
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15 minutes ago, Hedgecutter said:

An older acquaintance of mine who's finally hit pension age has just swapped out his long-term partner for a richer retired dame following the realisation that he'll be forced to live in abject poverty for decades otherwise because he's built up no private pension savings.

Have any members of the P&B massive made this part of their long-term pension plan?  It certainly wasn't an option brought up in my recent meeting with the pensions advisor.

Absolutely. I'll be a kept man...I am now when it comes to it.

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