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DIY Pension Fund Management

  • 12-06-2009 1:37pm
    #1
    McSpud
    Registered Users Posts: 612 ✭✭✭


    Is it possible to manage your own pension fund (i.e. avoid paying management fees) & can that only be not outside company pension schemes?

    I have come to the conclusion pension funds are the greatest scam in the financial world & thats saying something. My 8-10 year old fund from previous employer is 60% below what was put into it & will take until 2020 to get back what was put into it based on 5% return a year.

    Almost every fund in this country is down over the last 10 years so surely it would be better to but long term cash bonds myself?


Comments

  • #2
    Dabko
    Closed Accounts Posts: 575 ✭✭✭Dabko


    Pensions are just gambling made sound safe. Since the world went tits up, the pension funds have collapsed, leaving poor joe soaps pennyless.

    Take your cash out of your pension fund and stick it in a matteres for a few years (unless you are an elderly lady from Isreal!), probally work better for you!

    Dabbk is not regulated by the financial regulator, terms and conditions apply (sort of..):D


  • #3
    McSpud
    Registered Users Posts: 612 ✭✭✭McSpud


    Dabko wrote: »
    Dabbk is not regulated by the financial regulator, terms and conditions apply (sort of..):D

    Not being regulated by the financial regulator gives me more confidence in your services. :pac:

    If tax savings were taken away from pensions or reduced you would see a big increase in the sale of shovels for cash storage in back gardens.


  • #4
    ferga_com
    Closed Accounts Posts: 159 ✭✭ferga_com


    You can choose to manage your own pension fund, but you'll still pay fees to the company that sets up the structure for you.

    Or you can switch to a bond fund or cash fund, if that's what you want to do.


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