Should I spend my pension?
Avontyrell – rules changed from jan 2013 and commission is now banned, so it’s all transparent pricing now that you agree with your adviser what they will be paid. This is usually split between a fee for the initial advice and an OPTIONAL ongoing adviser fee (usually a small annual percentage of the fund value expect around 0.5%).
Qualifications wise – all advisers had to sit exams to get them to a minimum of Diploma in financial services (actually quite onerous for many). However next step up is Chartered Financial planners. You’ll pay more for their advice perhaps but feel free to negotiate with them. You can check a website called unbiased for local advisers around you.
Iffoverload – the trustees of the pension scheme have a legal duty to invest the funds for the benefit of the members/beneficiaries. There are different ways of looking at ethical investment – green funds tend to be higher risk due to the narrow nature of the underlying assets. However you can choose to go with funds which operate negative screening, e.g. They wouldn’t invest in arms companies for example. A good way to do this is normally to ask your adviser about multi asset funds as these are well diversified across different asset classes ( different asset classes are affected by different factors so don’t all go down or up at the same time; an asset class is things like shares, gilts, government bonds, property, etc). These types of funds often operate negative screening and will provide lots of info about what they do invest in.Posted 3 years agoTrimixMember
Ethical pensions ! FFS. Its money we are talking about.
When you have been sat in your soiled nappy for most of the day in a badly run old peoples home wating for some foreign underpaid nurse to sort you out – your earlier decision to choose a pension because it was “nice” may then seem to be stupid.
I want my pension to make the most possible money it can. Drugs, guns and prostitues – I will be way too old and skint to care.
I want to have posh nappies while I dribble away the rest of my years in an old peoples home.Posted 3 years ago
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