Pensions Tab to add to networth

This is a asset management fintech company with no section to add pension asset amounts……this is really annoying that this hasn’t been done yet.

Please add a section where I can enter my pensions which accumulate to with my net worth.

Thanks

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I just add mine as manual accounts under Investments and I just update the SIPP values at the start of each month. I don’t have visibility over the final salary pension so that’s a static valuation for me but it’s good enough for now.

I’m not sure if it is possible to show pensions here as most aren’t available through open banking to allow Emma to retrieve the data. Though I could be wrong :man_shrugging:t4:

The point is there should be separate sections in an asset management app.

3rd parties have to give permissions like HL and Freetrade. But do they really take the Emma app seriously when they are missing so many of the obvious fundamentals…

Why are LISAs not included as well?

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Offline accounts in Investments are the best way today.

I don’t think we have plans to add a specific sections called “Pensions” to add offline accounts.

Why not? This seems like such a weird and massive oversight for you app. This makes no common sense. Most of peoples investments should be and are in their SIPPS and or LISAs. What’s the point of an app calculating networth that ignores such an important factor of current and future networth?….This does not sound very smart.

To be fair to @edoardomoreni your original question was about having a separate ‘Pensions’ section which is not on the current roadmap. Essentially, a pension is a long term investment for which there is already a place in Emma for that. And a LISA is most definitely a long term investment. Perhaps, if enough people want it split, the Emma team will consider it. It makes no difference to me either way but I do like having it included in my overall net worth which some people say they prefer not to.

If you are talking about linking these investments to be updated in real-time, well then that’s an integration question and will depend on whether there’s an API available for which a lot still aren’t. Only for current and savings accounts.

I am not sure if we misunderstood each other. :sweat_smile:

If you are referring to an API connection, there is no way to do it.

If you are referring to having a Pension section, for now, Investments work in the same way.

I am replying to your comments. This is something surely essential to an asset management calculator. It is significant enough that there should be a separate area for this.

Surely this is essential to financial planning. No company is going to provide an API eg Freetrade or HL if you cant even seen the need to show pension pots properly.

Yes, for us, that is investments for simplicity.

We have plans to provide our own SIPP, so this might change in the future, but for now we are quite happy with the Investments section.

Some advice from a CTO to CEO….listen to your customers wants and needs….your happiness isn’t theirs.

Of course, that’s why we are here :slight_smile:

We try to listen to all the feedback. Pensions is part of our roadmap, but we are not there yet

I thought about this, we can actually add a Pension section in Networth (not overview) and then create a type for offline accounts. Makes sense?

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Please please do!

Okay, let me add a ticket in

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Thank you. This really is essential to financial planning. I bet nearly everyone will use this function.

You can then use that data/stats to market a sales pitch to other pension providers eg 91% have 4 or more pension pots of avg value - our customers might be interested in e.g Pension Bee consolidation providers. I imagine 3rd parties would be interested and bring in more revenue for Emma.

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Just to let you know, we have done the work on the backend. We just need to get someone to build this in 30mins and deploy it to prod.

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If you ever need a beta tester more than happy to help.

Pensions would be a good addition but without an API for updates, you need a minimal way to record contributions

Can I suggest that a smart rule to credit the pension with a fixed amount whenever payroll is detected would suffice. Pension contributions are usually predictable amounts every month.

Smart rule at present can only duplicate the original transaction value in its actions but this is of no use.

Use Case : User salary is £4000 per month but employer direct contribution another £500 to company pension.

When £4000 credit goes to current account, rule detects this to credit £500 to pension (amount set in the rule definition)

Another option - allow ‘subscription’ type function on offline accounts to auto populate with regular contributions

We’d still need to update the balance regularly to allow for investment gains, but the account balance would be broadly correct

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We are doing the work on the frontend.

I think you should see this next week.

We’ll have a Pension section under Investments in Networth and a new offline account type called Pension. :slight_smile:

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Excellent stuff!