Having 3 pensions?

[longers]

As of next week I'll have three, I'm not sure whether to pay a third of available funds into each and hedge my bets on them performing well or what I should be looking for from each to help me decide if any are worth favouring more than the others.
Hopefully I've only got twenty years before I can retire so think I ought to get the best advice I can now. I think that it's all a bit of a gamble how any product will perform - hence wondering whether spreading the risk of good/poor performance is sound but could be wrong about that!

Any ideas on how to make a best guess on what to do would be very much appreciated.

 

[Fnaar]

Shoe box under the bed

 

[Leodis]

Buy shares in Royal Mail

 

[threebikesmcginty]

Spend it on beer and just waste the rest.

 

[Smurfy]

Shoe box under the bed

Gold bullion (but make sure it's not gold filled with tungsten)

 

[ColinJ]

Hopefully I've only got twenty years before I can retire ...

Blimey, you must be a lot older than you look ... I would have thought that it would be more like 35 years!

(It is 9 years before I get to my retirement age (66), but your retirement age will probably be 67 or 68, or even higher by the time you get there.)

 

[ComedyPilot]

Move to Greece - pick olives for a living - swim naked in the warm waters of the med, make love on the beach, dine on fesh sea food and dance with the locals, be at peace with a laidback life......

or.....

 

[dan_bo]

Getting old mate!

 

[swee'pea99]

What is this 'pension' of which you speak...?

 

[Booyaa]

Having three pensions means three sets of charge as mentioned above so quite an expensive way of doing it. What you should do, depending on what type of pensions they are is to alter the investment funds the pensions are invested in and this will make the biggest difference. However seeking an IFA out to look at it for you will be the best course of action, or just stop paying and invest in something else via a SIPP, property is your best bet.

 

[YIMan]

If the charges are simply a percentage of the fund, then it doesn't matter if you have one, three or thirty.

 

[ayceejay]

A shoe box under the bed like the man says or for small change a china pig preferably in green .
My pension was slowly growing at 1% or 3% a year and then one year it lost 18% which worked out at less than the contents of the shoe box would be had I used that method. The interest gathers tax free and my fund is slowly going back up at around 1.25% but now I discover that when it is paid out it is taxed at 21% ! Both shoe box and pension plan would be worth about the same except the contents of the shoe box would be tax free - so worth 21% more. Are you convinced?

 

[colly]

Have a word with my Nigerian financial advisor..............he e-mails me every week to tell me just how well all that money I send him is being invested.

 

[MarkF]

My dad had 4 pensions Longerz, 2 vocational plus an Irish and UK state pension. He died very shortly after starting to reap the payments. Just saying.

 

[longers]

I would have thought that it would be more like 35 years!

It probably should be 30 but I don't fancy waiting that long!

Having written the first post and thought about it some more, I'm less happy to gamble on it and will try and find an IFA.

Or stick it under the bed.

Ta very much.