Savings

[GornikDaze]

Anyone got pension with Aegon. Been checking mine for year and noticed no payment from employer in Oct/Nov. Shows as coming out on my payslip. Looks like Aegon made system update in August causing contributions to either not be collected or collected but not allocated.

I then decided to check last year's statement and that years investment lost almost 50%. Year before (2022) my investments decrease in value exceeded my investment for the 12 months. I get that it can increase/decrease but to me that seems a lot

Without being rude, how old are you? If you are approaching retirement you may be in a default lifestyle fund which automatically moves into lower risk assets as you get closer to your selected retirement age. Some of those lower risk funds have had a bumpy ride due to interest rate rises in the last couple of years. Makes the phrase ‘lower risk’ a bit counter intuitive I know.
Might be worth checking with your HR/payroll people about missing payments?

RBC Brewin Dolphin: Lifestyle funds blew a hole in people’s pensions | Trustnet

News archive including articles on Fund Managers, Fund Selection, Asset Allocation, Absolute Return, Offshore Investments, Tax Shelters, Insurance bonds. RBC Brewin Dolphin: Lifestyle funds blew a hole in people’s pensions | Trustnet

www.trustnet.com

 

[hampshireblue]

Anyone got pension with Aegon. Been checking mine for year and noticed no payment from employer in Oct/Nov. Shows as coming out on my payslip. Looks like Aegon made system update in August causing contributions to either not be collected or collected but not allocated.

I then decided to check last year's statement and that years investment lost almost 50%. Year before (2022) my investments decrease in value exceeded my investment for the 12 months. I get that it can increase/decrease but to me that seems a lot

2 different issues here:

Chasing up on the missed payments needs to be done ASAP.

Markets and therefore pensions can fall as well as rise. It's crucial that you know how and where YOUR money is invested. Two of the biggest considerations are how old you are and your attitude to risk. If you have a long time to go to retirement then you can afford to be a bit riskier with your investments and most may well be in funds which exposes you to the stock market. Diversification is also key, in that you are not too exposed to one sector of the market or indeed too heavily invested in a single country or region.

There is definitely something not right if you are suffering losses on the scale you mention and over a period of time.

 

[ob]

Without being rude, how old are you? If you are approaching retirement you may be in a default lifestyle fund which automatically moves into lower risk assets as you get closer to your selected retirement age. Some of those lower risk funds have had a bumpy ride due to interest rate rises in the last couple of years. Makes the phrase ‘lower risk’ a bit counter intuitive I know.
Might be worth checking with your HR/payroll people about missing payments?

RBC Brewin Dolphin: Lifestyle funds blew a hole in people’s pensions | Trustnet

News archive including articles on Fund Managers, Fund Selection, Asset Allocation, Absolute Return, Offshore Investments, Tax Shelters, Insurance bonds. RBC Brewin Dolphin: Lifestyle funds blew a hole in people’s pensions | Trustnet

www.trustnet.com

Thanks I'm 62 (63 in March) and have contacted Payroll who sent me a paragraph saying 'the company had implemented a technology update and experience some issues. It is being treated as urgent and isn't affecting regular pension contributions, investments or investment values so will not be disadvantaged by the current issues'.

Trying to set up online meeting with pension advisor from Aegon

 

[hampshireblue]

Thanks I'm 62 (63 in March) and have contacted Payroll who sent me a paragraph saying 'the company had implemented a technology update and experience some issues. It is being treated as urgent and isn't affecting regular pension contributions, investments or investment values so will not be disadvantaged by the current issues'.

Trying to set up online meeting with pension advisor from Aegon

Ask for a breakdown of where your pension is invested. It may be that due to your age quite a lot is in gilts and bonds which have not performed well over the last few years. Soething to consider regarding risk is when are you planning to take your pension. The longer in the future, the more time invested.