Hi there
I want to take out a pension. I am a shareholding company director/employee. I asked my bank who suggested I take out a pension with them whereby I pay 5% of my contributions as a charge plus a 1% annual fund management charge. This sounds amazingly high to me. Is it?
Also, I don't believe that fund management works. (I don't believe that fund managers perform better than random share picking) so I don't want to pay for fund mangement- I just want a fund that is linked to a stock market index, or a group of indexes. Is this easy to obtain and if so, is it cheaper than a managed fund?
To what degree is a pension fund protected from the managing company going bust? If I invest in a pension for 30 years, I don't want the pension company to do an enron and sink with my savings.
Thanks,
Carolina
I want to take out a pension. I am a shareholding company director/employee. I asked my bank who suggested I take out a pension with them whereby I pay 5% of my contributions as a charge plus a 1% annual fund management charge. This sounds amazingly high to me. Is it?
Also, I don't believe that fund management works. (I don't believe that fund managers perform better than random share picking) so I don't want to pay for fund mangement- I just want a fund that is linked to a stock market index, or a group of indexes. Is this easy to obtain and if so, is it cheaper than a managed fund?
To what degree is a pension fund protected from the managing company going bust? If I invest in a pension for 30 years, I don't want the pension company to do an enron and sink with my savings.
Thanks,
Carolina