My Investment Strategy - novice here

Hi All

Following on from the very good discussion and comments received over the last couple of weeks, I have now prepared hubby's and mine pension/investment strategy. Would you learned folk be kind enough to look through it and PICK HOLES AND BLOW IT APART as you see fit as I really need to learn.

Objective: Hubby 60, me 54 - to make the most of our current pensions and provide a pot of money to dip into to supplement our state pensions when we retire (and keep us under the personal tax threshold) - him at 66 and me 67.

Him: Ex-Allied Dunbar pension plan current value £24500 and invested in the Zurich Managed AP 3/4 fund. Making no further contributions.

Me: A SIPP with HL, started last year, current value £3200 and invested in the Vanguard LS 60 fund. Currently adding £150 a month net to it but also making lump sum payments as and when possible. Also, Nest pension to take advantage of free money, minimum contribution by employer.

This is what I am thinking:

1. Withdraw his 25% tax free via UFLMPS and pay that into my pension to take advantage of tax relief.

2. Leave the remainder of hubby's pension in Zurich Managed AP fund for the time-being. This comprises 70% equities (roughly equities 30% UK, 15% European, 12% US, 10% Asia Pacific, 10% property, the rest fixed interest).

3. Work on growing my pension into the Vanguard LS 60 (equities 26% US, 15% UK, 7% European, 5% Global Emerging Markets, 5% Japanese, the rest Gilts and Fixed Interest).

I think that looks pretty well diversified?

In five years we will be mortgage free and will have a cash buffer of £18000. We plan to use this to withdraw from if the markets are down. We have a rather large house and it may be advantageous to downsize later but I don't want to rely on that at present.

We are realistic, these are not huge sums of money to have acquired at our time of life, but if we could drawdown £1500 a year that would work for us.

Foreversummer (novice)