Pensions for novices...

[Cyder]

Thought I'd sit down tonight and have a look at my pension information and I'm not afraid to say I don't really understand what I'm looking at...

I'm 25 and I've got a Stakeholder pension with Standard Life 100% invested with Global Equity 50:50 Pension Fund which I seem to recall was medium risk rated when I took the pension out last September.

What I can't seem to grasp is whether this is a good fund to be invested in or not.

I've been trying to find a way to compare different funds to decide whether I should split my investment and go for a higher risk fund as well or even move the whole lot to a better performing fund.

I guess this is where I should be talking to an IFA? Roughly how much would I be looking at to sit down with an IFA and look at the options?

I appreciate these are probably very basic questions but any advice would be most welcome.

Thanks!

[Aizle]

We had a pensions advisor come in and sit down with each employee, if they wanted.

He ran me through the options and explained the risks etc, granted it was only his opinion on where to invest but at least I understand what is happening!

Unless all that was done with you, go see an IFA.

[Cyder]

Hmmm we haven't had one visit here, or if we have I must have missed the announcement!

Any idea how much an IFA would cost and whether it would actually be worth it for cost vs potential increase in value?

O/T aizle, are you still Luton way? We've moved from Hitchin up towards Shefford but should have a catch up soon. (when you're back from Le Mans!)

[Aizle]

Cyder said:

Hmmm we haven't had one visit here, or if we have I must have missed the announcement!

Any idea how much an IFA would cost and whether it would actually be worth it for cost vs potential increase in value?

O/T aizle, are you still Luton way? We've moved from Hitchin up towards Shefford but should have a catch up soon. (when you're back from Le Mans!)

I have no idea to your first question.

We had a guy from the pensions/benefit company come in and effectively sell us the pension. Talked me through the risks and gearing of it. Could only take his advice on which fund to stick it in.

I am still here, yes. Now back home, you need a trip out in the new car.

[AnnuityAdviser]

Did the IFA conduct a full risk assessment questionnaire?

[audidoody]

Unless you can get Cameron and Milliband to give you a guarantee in writing that neither of their parties will change pension regulations for the next 30 years I'd use ISA's to save for my old age - until they are closed down.

[ringram]

AnnuityAdviser said:

Did the IFA conduct a full risk assessment questionnaire?

Is that what they call an applicaiton form for a fisting!?

[-Pete-]

Standard Life's website should have a list of funds you can invest in. Look at their performance, relative to each other, and relative to each sector's benchmark/average. Look over 3 months, 6, 1 year, 3 years... then make up your own mind.

In my scheme, cash is safe but much lower than inflation, gilts/bonds slightly better than inflation, equities/shares are unpredictable. I check more than once a month to see if anything's changed.

Nobody (even IFA's) know what's best, so make your own choices.