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Scott Dixon, a 54-year-old who operates a complaints resolution website, has increased his pension pot by £11,000 in just eight months without upping his monthly contributions. Speaking to the i newspaper, Mr Dixon revealed that he only contributes £50 a month to his pension and has not raised this sum, reports the Express.
Instead, he consolidated his six pension pots accumulated from various past employments, with amounts ranging from as little as £30 to as much as £13,000. After deciding to merge these funds, he opted for a self-invested personal pension (SIPP) to gain greater control over his investments.
Mr Dixon then strategically allocated £27,400, which is 75 percent of his pension, into stocks. Despite the inherent risks, his "calculated" investment choices yielded a return of £10,680 within an eight-month period.
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