Mine is a defined contribution (not defined benefit), both I, and my employer contribute 5% of my gross salary including any overtime or bonus'. About a year and a half ago (my four year anniversary), my pension vested which means that no matter where my career takes me - the money in that account is all mine and cannot be clawed back by my employer.
I'm not particularly good (read knowledgeable) at investing, but I thought I would share what my pension is invested in (I can make changes to this anytime, but try to only look at it once or twice a year) and what my rate of return is for the different funds.
This is through Sunlife and I can choose any plan/fund that they have.
What do you think of my asset mix? Would you do anything different?
I would probably get rid of the money market and bond fund at your age. I'm not familiar with the specific other ones, only the asset classes.
ReplyDeleteHey ND Chic - thanks for stopping by! Why would you suggest getting rid of the money market one?
DeleteI agree with ND, you are still young and have lots of time to recover from market fluctuations, this portfolio is leaning too heavily on the income side and not enough on the equity side. Money market is just a fancier term for saving account but its even lower interest (0.6%!!!). I would suggest at least one dividend fund but I'm not familiar with Sunlife's offerings. Do you have a rep you can talk to about your investments?
ReplyDeleteI am in the same situation with my pension and it's super confusing picking... I have no idea how to divide it up. So I just roll with what it is now until I decide to do some research.
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