Confused and Disillusioned!

[Learner]

I've got a couple of frozen pensions from previous employment. In Feb. 1995 the value of one of my pensions was 1,526.40 Irish Punts with an estimated value of 6,448IR on retirement. Today, more than 10 years later they tell me the plan is worth 1,695.22 euro! I'm looking into a PRSA as soon as my SSIA matures but based on the statements I'm receiving I've absolutely no confidence in the world of pensions - anyone got any advise?

 

[Learner]

Disillusioned

I've got a couple of frozen pensions from previous employment. I've been thinking about opening a PRSA once my SSIA has matured. I requested statements from the pension companies and to my horror I find that in one case where I was quoted a value of 1,526.40 Irish Punts back in Feb 1995 it now is valued at 1,695.22 euro more than 10 years later! And, the other statement is not much better. Although, I'm told I should have a plan for retirement, I've absolutely no confidence in the world of pensions -based on the above I would have been better off putting the money under my mattress!

 

[ClubMan]

Re: Disillusioned

You need to clarify:

What charges applied on each of these pensions?
What were they invested in?

If the charges were high and the funds were not appropriate for a long term investment then the seemingly poor returns may not be as susprising or as damning of pensions in general as you seem to think.