My workplace setup a Royal London pension - by default it is the "Balanced Lifestyle Strategy (drawdown)". I'm glad I only put in the bare minimum required for employer matching because:
1. Scammy fund administrators and investment managers - I noticed dozens of transactions per month, in and out of various of their ridiculously high cost funds. Some help you are, total POS.
2. Also, exorbitant fees for what is effectively a global equity index fund (minimum 100 bps or more per year) - shameful. How dare you.
Stay away from these scammers, invest in an index fund yourself. (Blackrock/vanguard should be <10 bps per year)
Reviewed on: 28th March 2023
