Nest pension

[Bullionaire]

I've never really paid much attention to this, but I decided to have a look last night.

I didn't even realise you can pick what fund you're invested in. Turns out the sharia compliant fund is doing better than all the other funds so far. Go figure!

Not a big fan of the fees you pay (1.8% on money going in then .3% annually), but it's the only was for me to claw a bit of extra money from my employer.

[Michal]

They don't inform you about that at all. Just automatically enroll and deduct. You would be shocked how many people argued with me that PP is mandatory and you can't opt out. 😀

It is acceptable when you get 2x or more money which you pay in to PP and it sits in decent fund, but not if they taking more and more and give less and less. When you do the math you ll see that it is in general very bad investment locked up for 40 years. But cash is flowing to the market and everybody is happy.

Edit

But I have to admit it could be life saving for most of people, coz they have no idea what saving and investing is. So in that case anything is better than nothing.

[Bullionaire]

I've just switched mine to the sharia funds. This appears to be the only fund that is 100% equity (I guess bonds aren't allowed for muslims). I'd rather not have 30% of my pension sat in bonds (as it is in their 'high risk fund') when I've still got 30 odd years to retirement.

[MancunianStacker]

37 minutes ago, Bullionaire said:

I've just switched mine to the sharia funds. This appears to be the only fund that is 100% equity (I guess bonds aren't allowed for muslims). I'd rather not have 30% of my pension sat in bonds (as it is in their 'high risk fund') when I've still got 30 odd years to retirement.

Yup, Muslims can’t pay interest. Probably some old world knowledge about interest and bad money that got engrained into Islam (a very good thing imho). They can pay rent and capital payments so that’s how you get Sharia compliant mortgages. 

[blackadder]

I've had nothing but trouble with these clowns,missing money,sending stuff to the wrong address even after being told twenty million times enrolling me with two accounts then taking 6 months do sort it out.

and far more,goodluck getting your money from them whatever you put it in lol.Or opting out if you're new etc,as i'm sure they'd **** that up too.