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"get Out Of Sterling"

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Got a letter from Standard Life, who I have a pension with, which goes something like:

Dear Sir,

You have a ‘lifestyle’ pension with us that as you approach retirement will automatically reduce your exposure to the equities market by moving a proportion of your assets into our Sterling fund, we’d like to suggest you think about filing in the enclosed instruction form to request your money is placed into our world cash fund rather than the Sterling fund, we suggest you take independent financial advice when planning for your retirement.

Looks like they don’t rate the long term chances of sterling…

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Got a letter from Standard Life

SNIP

yeah great advice, it's not like they have a VI in systematically ripping you off on the FX rate applied to the "world cash fund" :rolleyes:

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Got a letter from Standard Life, who I have a pension with, which goes something like:

Looks like they don’t rate the long term chances of sterling…

You should add USD and EUR to that list as well.

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As VWYF points out, it seems rather likely that they will make less money off you if you simply hold your cash in sterling. Bear this in mind when judging the advice.

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This could be sensible. I have much of my pension in Standard Life Sterling fund whilst waiting for opportunities. I would prefer to hold a wider range of currencies to reduce risk (assuming the fund doesnt charge more).

VMR.

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Got a letter from Standard Life, who I have a pension with, which goes something like:

Looks like they don’t rate the long term chances of sterling…

This being the same Standard life who's "cash fund" was invested in mortgages and the like? I wouldn't touch their advice with yours.

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Got a letter from Standard Life, who I have a pension with, which goes something like:

Looks like they don’t rate the long term chances of sterling…

They might be just saying that it's better to get out of any one currency and spread your cash around several currencies. Nobody really knows which currency is going to crash next week, but if you've spread your cash around then it shouldn't matter.

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Really? Surely a ‘cash fund’ means they hold your wealth in cash and don’t invest it in anything, or I’m I being naïve?

This being the same Standard life who's "cash fund" was invested in mortgages and the like? I wouldn't touch their advice with yours.

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It's true no-one knows for sure. Everyone on here was saying this a couple of months ago. Imagine how much money you would have lost if you'd done that. Red Kharma gave good advice back then advising everyone not to as it was pure speculation. I'm pleased I heeded that advice now.

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Really? Surely a ‘cash fund’ means they hold your wealth in cash and don’t invest it in anything, or I’m I being naïve?

http://www.guardian.co.uk/business/2009/ja...toxic-mortgages

Here you go. The very fund under discussion. My take on this would be that SL are trying to get people out of this fund as it will continue to perform horribly due to exposure to bad debts.

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That's how I see it, I think I'll go for their suggestions but I'm aware they will make more commission on the mixed bag of currencies fund than the vanilla sterling fund..

If only there was a type of cash that could not be printed by desperate politicians, that would hold its value over millennia and that was so concentrated that you could carry a years worth of labour in your front pocket.. ( Sorry for the outburst, I’m getting annoyed with people devaluing my money..) :angry:

They might be just saying that it's better to get out of any one currency and spread your cash around several currencies. Nobody really knows which currency is going to crash next week, but if you've spread your cash around then it shouldn't matter.

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Really? Surely a ‘cash fund’ means they hold your wealth in cash and don’t invest it in anything, or I’m I being naïve?

You mean cash as in money in a vault ?

Come come it's nothing like that and even if they say it is they are gambling to some degree with it.

Pensions are the next thing to go bang i thinks and the sad thing is gov wil let them get away with it so long as MP's still get gold plated pensions.

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Pensions are the next thing to go bang i thinks and the sad thing is gov wil let them get away with it so long as MP's still get gold plated pensions.

Next thing to go bang? They've ALREADY gone bang!

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That’s a disgrace… Those city boys need to do some time, crooks…

Thanks for the link, I'm shocked..

http://www.guardian.co.uk/business/2009/ja...toxic-mortgages

Here you go. The very fund under discussion. My take on this would be that SL are trying to get people out of this fund as it will continue to perform horribly due to exposure to bad debts.

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Got a letter from Standard Life, who I have a pension with, which goes something like:

Looks like they don’t rate the long term chances of sterling…

wtf? stock markets tank and your pension is halved so get out of equities now? Surely the better advise would be to drip feed more into equities?

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If only there was a type of cash that could not be printed by desperate politicians, that would hold its value over millennia and that was so concentrated that you could carry a years worth of labour in your front pocket..

There is, only on this board it is the currency that dare not mention its name...

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Many companies like SL employ MPs (2nd, 3rd ....jobs etc) and we already know how crooked they are so if they aren't busy just cheating voters/taxpayers etc they are likely to be giving a similar level of "input" to those companies.

SL's comments could possibly turn out to be timely but they could just as easily turn out not and just another churning excercise for their commissions.

Edited by billybong

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Really? Surely a ‘cash fund’ means they hold your wealth in cash and don’t invest it in anything, or I’m I being naïve?

Cash = Wealth. Yes, very naive.

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