I have one remaining pension pot left that I'm not drawing a pension from yet. I say one, but earlier in the year I amalgamated about half a dozen disparate pensions into a single pot with Aviva and drew down the tax free 25% to part fund the new static caravan we bought as a rental investment. I got a statement about the fund performance a few weeks ago.
In March it was worth £160,032 - by June it was worth £146,049. That's a drop of 8% in 3 months and needless to say, I won't be using it to draw an annuity anytime soon.
If this is a harbinger of the long term prospects, I'd have been better off cashing in the lot, paying the tax and buying some classic cars in need of a bit of TLC.
I saw an advert for some investment vehicle called Zopa last night which was making a big noise about getting a whopping 1.8% interest if you lock your money away forever. Remind me again what the inflation rate is?
If hedge funds can make a fortune from volatile markets, why can't my pension provider?
1 comment:
Just to cheer you up, I have lost £62,000 from my pension pot since November last year
Post a Comment