Pension

[Hopkirk]

I can check the value of my Legal and General pension at any time.

Every month another few hundred pounds goes in, but the total value seldom rises at all. Admittedly over the last year it has fluctuated wildly after the Ukraine invasion. However for the last few months it has hardly moved despite several thousand pounds of contributions.

Am I with the wrong company?

[Buenchico]

This, from the Grauniad just a couple of months ago, might go some way towards answering your question;
https://www.theguardian.com/money/2023/mar/11/pensions-retiring-losses-ftse-aviva-value

[Hymie]

Each year I receive a statement from my money purchase pension to which I contribute 3% of my salary and my employer contributes 5%. Despite the money paid in, some years the fund reduces in value – but other years it has done well.

The pension fund is invested in the FTSE100 with the pension provider taking 1% p.a. of the fund value for doing nothing.

[ToraToraTora]

no, you cannot judge by such a small window of time.

[Karamia]

I am not with same pension company as you Hopkirk, but I was thinking exactly same. I have been tracking my pension by going online regularly and noticed that it is currently at same value that it was this time in 2021. 2 years and still no further forward despite contributions.
It fluctuates constantly but never seems to be making any progress. Going to make much more from my savings accounts this year.
Looking at Chris's information, it sounds like it same situation for a lot of people.

[Maydup]

Is anyone managing the funds for you? Might be worth asking a Financial Adviser if your money is invested well and across a portfolio of funds for maximum growth.

I pay 0.75% for that service and my investments are moved around for me as as funds wax and wane.

[Zacs-Master]

Do none of you have a pensions advisor who does yearly checks and comes to see you?

[Hopkirk]

No Zacs, it's a company pension so I couldn't go elsewhere even if I wanted to.
Who pays for your pension advisor?

[Maydup]

It’s less about the pension company and more about the funds they are investing your money in. When I was at work we used to have an annual review with a pension advisor who explained what funds L&G in your case, invest in and which ones we could move our money in and out of. Eg Property, cash, global funds etc. depending on the performance of the stock market and our own risk profile.

Even if you have little choice as to what your money is invested in someone somewhere should be giving you more information and an annual review. Talk to HR.

[Maydup]

The advisor was paid for partly by the employer and partly by us from our funds. There are limits on charges set out by the government. You’ll be paying a fee from your pension pot to L&G but we also had the financial advisor too who recruited us to the scheme, gave us forecasts and reviews, and provided personalised advice.

[Zacs-Master]

I pay for my pensions advisor (0.75%) but at least he does things.

[Peter Pedant]

we are not qualified to give pension advice ( which might cost you dear) -I think they are all much or a muchness to be honest.

I think you are looking at the noiev ( short term fluc)
and this noise masks the signal ( the overall movement)

prob for us proles is that the star of yesterday goes bankrupt to day ( woodward at jupiter whom I WAS tempted to follow ) oor-er Hoppy

this fella ( name forgotten) says you should only look intermittently at your figures ( best way to iron out the noise and identify the trend

asking the usual suspects about stock market tips
you're a dumb one, innit?

[31 Abers go foo and ask themselves what dat about den]

[Peter Pedant]

Do none of you have a pensions advisor ?
yup - god are all of you under 65
he does a fee
and so the company - 0.75% both times per year

MY pensions advisor, said - 2005 - god it is lucky you ignored my advice ( put it in a bond, which hasnt done too badly but is taxable) but did what you wanted..... I stuck with her

[Peter Pedant]

Company pension you MUST partake
they match your con
( NHS Doctors and nurses pay 14% which is matched = big big pension and only paid for by the gubmint as they are an employer. )

so by and large.... your q is pointless. sorry about that. The only way you gonna change it, is rap on the company owners door, and scream "your babies are gonna STARVE! "
you cannot do anyuthing yourself you have to activate / motivate the ones who can