Pension planning

[Re-sign Carl Dale]

Nice one....hopefully. "value of the investment can go up and down."
Best thing I did was to get into cash after Brexit. Yes, stockmarket went up more afterwards, but now...still not back where it was.

Thanks so much for all the advice, discussion and personal experiences.

Shows just how much of a situation this is and how important it is.

Can I ask about Pension Bee. I'd never noticed their ads until my ears pricked up today when they came on the TV. Seems to be an all in one app based pension solution. I guess going forward this will be a regular thing. Transfer all pensions into an app?

PensionBee are a relatively new player and there is no advice - the investment selection is what’s known as robo-advice. Pretty low costs, however other companies have tried it before and ended up going bust as the Model wasn’t profitable.

Should be fine for smaller pension pots ( values of 20-30k where it wouldn’t be viable to pay for advice) or where no at-retirement advice is needed. For anything larger (or anyone with more compex needs) then an experienced DIY investor or a half-decent IFA should be able to do a better job.

I tend to get concerned when the likes of PensionBee or Hargreaves advertise promoting transferring pensions without advice - you need to be confident of what you are giving up, and that there are no valuable guarantees or really well performing funds that you are giving up.