To think that Standard Life should be embarrassed about this

[OhamIreally]

Just had a pension statement from Standard Life. I've screenshotted the part where it forecasts what the pot might be if you pay in extra - see below. Given that my retirement is in 11-12 years, are they genuinely saying that if I pay an additional £13-£14,000 over the next twelve years they will turn it into .....£12,000?

Are their management fees high?

Presumably they think interest rates are going to drop over the next 10 years.

Wow, that's not good. I think I have a small pension with Standard Life, maybe I should move it!

It's done on assumed growth rates and that will be a negative rate that the FCA and the, to apply. It's all hypothetical rubbish and for illustration only.

So no, Standard Life shouldn't be ashamed of themselves.

Sorry embarrassed not ashamed

I think it's that this particular section is entitled "How to give yourself more money in retirement" . This isn't more money, it's less. Would be better to stuff it in the mattress.
Management fees not particularly high.

I had the exact same with my pension projection. I've got 20 plus years to retirement and they said if you pay an extra £100 a month you could get an extra £50 a month in your pension. Um, I'll pass thanks.

So you understand how an annuity works, not that you're likely to buy one because it's unusual now?

It's an income for life....

The figures will be adjusted for inflation (so makes it look lower) Plus limited growth rates. What you’ll actually end up with depends entirely on the performance of the fund.