Can I make my own decissions on my pension choices?

J

JCI

Guest
Hi, I have been in a company contribution pension scheme for approx 15 years now and the last 5 years i have been doing my own investments i.e. stocks. Overall in the last 4 years i have been doing better than my fund manager who ever that might be by approx 6-8% each year for the last 4 years, one year i did better by 18%. I was wondering because its my pension and my money can i somehow decide to choose exactly which company, stock, bond etc i can invest in. Or even better cash the pension in and take the pension and choose where i want to invest it i.e. basically i manage my own money. sorry if this sounds like a silly question but in the last 4 years i have been evaluating the different pension funds within my company scheme and the best one still didnt better my own personal investment choices. I feel it could be put to better use. And since its my money i thought i just ask the question. thanks JC.
 
Self directed pension funds and Small Self Administered Plans do exist if that's what you're looking for and if they apply to you. Google for info about them.

You can't cash in a pension other than in exceptional cirumstances.
 
JCI,

A few points to note here,

As you are in an occupational pension scheme, your scheme trustees will have given you or should have given you 2 choices - no choice of fund ie, one fund fits all at work or where they give employees a choice of a range of funds, normally within the full range of funds provided for by the life company who invest and manage the schemes contributions.

Pensions can only come into play and be cashed early in ill health circumstances, other than that the earliest is earlier retirement.

Finally, the self administered route is usually seeing as a tool for properitors, 5% directors etc or senior highly paid employees ( of which you might be one?) and also no decision can be made investment wise in a SAPP without the consent of an pensioneer trustee.

Hope this gives you some insight.
 
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