PGA
Correct. I withdrew all of my C fund several years ago to assist with a deposit for a property. This amount is still included in the total contributions however, my total value including what I sold exceeds the total valuation. Several points;
lospilotos
Firstly, Dropp is right in that any managed fund will have management fees. That's a given and these can vary hugely. If you want to avoid these, there are several vehicles to do so including tracker funds and ETF's. You will need to do your own research. You could also trade individual shares online but this requires knowledge and an interest in stocks and shares. If you can't even be bothered getting a free consultation, I certainly do not recommend this avenue.
The second point is that most of us have neither the time, knowledge or inclination to spend spare time researching these facts. Managed funds do that for us, we 'pay' for that privilege in fees. Yes, over many years they can add up. However, the provident fund offers entry into managed funds with reduced fees. Emirates bulk buys and receives discounted fees, given back to us in the form of rebates. These are visible in your statements. A & B fund choice is limited. It's designed to cover the EOS benefit and avoid the Company paying out on that. The C fund, whilst also limited, does offer considerably more choice and options regarding risk. Personally, I like it and invest into various funds, all apart from one which has done well. Which leads me to the third point.
Shares can go down as well as up! The timing of this post is ironic. The markets are down considerably over the last week or so, the FTSE alone having lost 15% in 7 days. Short term views are dangerous. Volatility is actually what you want if you invest in monthly contributions, i.e. dollar cost averaging. When units are cheap, you buy more of them. As the market recovers, which it inevitably will, the value of you funds rises exponentially. Brasil is heading for recession. Talk is that we may be heading for another crash over the next 6-12 months which could last 3-4 years. If so, hold what you have (unless you've made money) and buy more units while they're cheap. 3-4 years of buying cheap will bring healthy rewards later.
Finally, don't accept my advice or anyone else's on this forum as gospel. We all have our opinions and is often based on personal circumstances and personal goals. I can not over emphasise how important it is to arrange a visit with Mondial. There is no excuse. It's free, will take one hour and requires a phone call to initiate. They will discuss what assets you have, what your attitude to risk is and what your retirement plans are. They will offer options with a view to meeting those expectations or putting a touch of reality on those dreams. You may be shocked how much you need to maintain even a basic standard of living in retirement. They get paid a fixed fee by Emirates for each employee visit so they have no financial gain based on what funds they choose from within the PF. That, more than anything else, is why I use them and the C fund. It's also a great form of forced saving.
Don't put if off any longer. laziness and ignorance will not be an excuse in later life when you're stuck eating bread and jam!
Harry