Huckenfell Posted January 19, 2021 Share Posted January 19, 2021 3 minutes ago, Huckenfell said: With that amount of money, go for it. But forget any ideas of business, you will get ripped off. Leave some of your money in the UK for a"rainy day" and do not get married. Link to comment Share on other sites More sharing options...
LeeUklondon Posted January 24, 2021 Share Posted January 24, 2021 (edited) II am in a similar boat in that I have a pension fund of £640k. I have had a few jobs, so I have had 5 different pension providers over 25 years. All bar one have achieved a return of 7% over the long term, even with covid and 2008. I believe they have earned the same as my property (5% price gains 2% rent) and I live in a property hotspot. So the return on shares/bonds is excellent. I would therefore, invest in the shares. You are losing money in the bank due to inflation, whereas shares should rise with inflation. Take no risk, loose money, take risk earn 42k per annum on average. I am not a financial advisor. Just started reseArching it. Edited January 24, 2021 by LeeUklondon 1 Link to comment Share on other sites More sharing options...
Tagged Posted January 24, 2021 Share Posted January 24, 2021 (edited) 35 minutes ago, LeeUklondon said: II am in a similar boat in that I have a pension fund of £640k. I have had a few jobs, so I have had 5 different pension providers over 25 years. All bar one have achieved a return of 7% over the long term, even with covid and 2008. I believe they have earned the same as my property (5% price gains 2% rent) and I live in a property hotspot. So the return on shares/bonds is excellent. I would therefore, invest in the shares. You are losing money in the bank due to inflation, whereas shares should rise with inflation. Take no risk, loose money, take risk earn 42k per annum on average. I am not a financial advisor. Just started reseArching it. The big question is: Will the pention fund survive the next couple of decades? Edited January 24, 2021 by Tagged Link to comment Share on other sites More sharing options...
LeeUklondon Posted January 24, 2021 Share Posted January 24, 2021 13 minutes ago, Tagged said: The big question is: Will the pention fund survive the next couple of decades? I have idea and I don’t think anyone knows, and I am invested in pensions, not because I am a genius, it is a no brainier to invest in pensions if your employer contributes and that is why I did it. Pure luck. maybe it is herd mentality because interest rates are so low, there is no where else to put it, like buy to let? Maybe be it is politics as all governments seem to bail out big companies/ stock markets. Link to comment Share on other sites More sharing options...
Mike Teavee Posted January 24, 2021 Share Posted January 24, 2021 11 hours ago, Tagged said: The big question is: Will the pention fund survive the next couple of decades? In the UK there are various safeguards in place to protect your pension should your company or pension provider go bust.... https://www.gov.uk/workplace-pensions/protection-for-your-pension#:~:text=Defined benefit pension schemes&text=You're usually protected by,below the scheme's pension age Protection for your pension How your pension is protected depends on the type of scheme. Defined contribution pension schemes If your employer goes bust Defined contribution pensions are usually run by pension providers, not employers. You will not lose your pension pot if your employer goes bust. If your pension provider goes bust If the pension provider was authorised by the Financial Conduct Authority and cannot pay you, you can get compensation from the Financial Services Compensation Scheme (FSCS). Trust-based schemes Some defined contribution schemes are run by a trust appointed by the employer. These are called ‘trust-based schemes’. You’ll still get your pension if your employer goes out of business. But you might not get as much because the scheme’s running costs will be paid by members’ pension pots instead of the employer. Defined benefit pension schemes Your employer is responsible for making sure there’s enough money in a defined benefit pension to pay each member the promised amount. Your employer cannot touch the money in your pension if they’re in financial trouble. You’re usually protected by the Pension Protection Fund if your employer goes bust and cannot pay your pension. The Pension Protection Fund usually pays: 100% compensation if you’ve reached the scheme’s pension age 90% compensation if you’re below the scheme’s pension age 2 Link to comment Share on other sites More sharing options...
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