Cash in pension bond?

A

Angie M

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My husband age 55 has a pension bond from a previous employment. It is invested with Canada Life/Setanta Managed Fund. The value of the bond has reduced by one third since August 2007. In light of the current economic climate and his age, should he cut his losses and cash in now?
 
Given that it looks like the US banks will have to be nationalised (and since our bank recapitalisation didn’t work so will ours) my gut feeling is that there’s another excrement storm on the way so I’m moving my pension to cash and adopting a wait and see approach. It’s about protecting what you have at the moment, not speculating on future gains (far, far in the future!).

That said my advice is to talk to a pensions advisor.
 
Thanks Purple. Was thinking the same myself. Better to protect what's left before its depleted further.
 
My pension is not running that long and I put in a lump sum last year as I will not be locking in much of a loss, rather protecting it from further losses.
 
Angie M said:
My husband age 55 has a pension bond from a previous employment. It is invested with Canada Life/Setanta Managed Fund. The value of the bond has reduced by one third since August 2007. In light of the current economic climate and his age, should he cut his losses and cash in now?
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Hi Angie,

Your not alone in your thinking, I refer to:



http://www.askaboutmoney.com/showthread.php?t=103302

General rule of thumb of investments is "what can I afford to lose" . .

Anybody that says anything else is an eternal optimist, somebody who doesnt accept or understand the dynamics of investments . . .

The reason people should invest in anything other then deposits is to either consolidate or improve the inflation value of their money.

Put it this way, if I buy a coka cola today for €1.00 , do you think I will get it for this price in 10 years time (just watch the commitements movie to see what you could get for £1 back then) . . .

We want to make sure we get more then a coke in 10 years time for our €1 today, which is why we invest. Hence the risk .
 
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