Hi,
I would appreciate some advice on moving my pension investment out of cash.
I recently bought a Buy Out Bond (with Eagle Star) after the pension in my previous employer was wound up. We were very lucky that the pension trustees moved all the pension fund to cash last year because the company had closed their major site in Ireland and closure of the DB pension scheme seemed inevitable. So we didn't lose a lot in the recent market crash.
I initially set up my Eagle Star Buy Out Bond with 90% of the investment in cash (Deposit Plus) and 10% in "Balanced Pension & Investment" fund.
Now that the transfer has finally gone through and market conditions seem to be improving, I am wondering whether / how much / how quickly to change this investment mix, to move from cash.
I am 47 years old, hoping to retire at age 65, averse to risk, but I'm far too lazy to lose sleep about the value of my pension or to put much effort into managing it actively.
I guess that I should probably move gradually from cash to a Balanced fund, say moving 10% at a time, maybe monthly, at least to a 50:50 split.
This is a lot of money (to me, over 15 years of pension contributions) and I would be sorry (and killed by my wife) if I wasted my recent good fortune now, but it seems like the worst is over and it is time to get back into a balanced investment and hopefully benefit from market recovery over the next period (up to 17 years to go). I suppose this is the usual greed vs. fear trade-off.
Thanks for any thoughts and advice.
I would appreciate some advice on moving my pension investment out of cash.
I recently bought a Buy Out Bond (with Eagle Star) after the pension in my previous employer was wound up. We were very lucky that the pension trustees moved all the pension fund to cash last year because the company had closed their major site in Ireland and closure of the DB pension scheme seemed inevitable. So we didn't lose a lot in the recent market crash.
I initially set up my Eagle Star Buy Out Bond with 90% of the investment in cash (Deposit Plus) and 10% in "Balanced Pension & Investment" fund.
Now that the transfer has finally gone through and market conditions seem to be improving, I am wondering whether / how much / how quickly to change this investment mix, to move from cash.
I am 47 years old, hoping to retire at age 65, averse to risk, but I'm far too lazy to lose sleep about the value of my pension or to put much effort into managing it actively.
I guess that I should probably move gradually from cash to a Balanced fund, say moving 10% at a time, maybe monthly, at least to a 50:50 split.
This is a lot of money (to me, over 15 years of pension contributions) and I would be sorry (and killed by my wife) if I wasted my recent good fortune now, but it seems like the worst is over and it is time to get back into a balanced investment and hopefully benefit from market recovery over the next period (up to 17 years to go). I suppose this is the usual greed vs. fear trade-off.
Thanks for any thoughts and advice.