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    • noclaf
    • By noclaf 14th Jun 17, 11:19 PM
    • 61Posts
    • 17Thanks
    Pension/SIPP query
    • #1
    • 14th Jun 17, 11:19 PM
    Pension/SIPP query 14th Jun 17 at 11:19 PM
    Hi guys,

    I recently changed jobs so this got me thinking about my pension situation. I am 36, don't own a property and am saving for one.

    previous employer pension value - ~£20k and will continue to be managed by the same provider/fund.
    my new employers pension scheme is quite generous and I am maxing it out so contributing 8% of monthly salary (before tax) and employer will match with 12% so 20% net per month.

    now the bit I need your advice on - I had another pension from a job many years was managed by standard life and being rather inexperienced after I left the job, decided to transfer it out to my hargreaves SIPP and then sell and reinvest it all in a vanguard lifestrategy 80% acc tracker...its 49% up in value at present, Ive not made any contributions since transferring it. I still regret ever doing the transfer since am likely paying higher annual fee's to hl and it would of been fine leaving it with standard life.

    given I am saving up for a property deposit and already contribute via my employer pension I don't see any point in adding funds to this one.

    my questions are :
    - should I just leave this pension as it is on the vanguard tracker
    - OR is there any reason the tracker I am using is not ideal for a pension fund and would you change for a different product?
    - any other advice or options to consider?

    sorry for the long post, its just bugging me!
    Last edited by noclaf; 14-06-2017 at 11:22 PM.
Page 1
    • Kynthia
    • By Kynthia 15th Jun 17, 1:30 AM
    • 5,074 Posts
    • 7,067 Thanks
    • #2
    • 15th Jun 17, 1:30 AM
    • #2
    • 15th Jun 17, 1:30 AM
    Is transferring it to your new employers scheme a possibility?
    Don't listen to me, I'm no expert!
    • LHW99
    • By LHW99 15th Jun 17, 9:43 AM
    • 1,147 Posts
    • 1,023 Thanks
    • #3
    • 15th Jun 17, 9:43 AM
    • #3
    • 15th Jun 17, 9:43 AM
    HL can be poor value for larger pots, and there are other providers that can do it cheaper. I think the point at which it can be worth considering a change is around the 30k - 40k mark, depending on what you invest in.
    Look for Snowman's spreadsheet on this site, and you can compare investment costs.
    Vanguard LS funds are not bad, if you are happy with what (geographies, euqity / bond split etc) they are invested in.
    • BLB53
    • By BLB53 15th Jun 17, 10:21 AM
    • 1,207 Posts
    • 995 Thanks
    • #4
    • 15th Jun 17, 10:21 AM
    • #4
    • 15th Jun 17, 10:21 AM
    Personally I would stick with the VLS fund - low cost and globally diverse. As you say, HL can be more expensive for funds - Vanguard will be launching their own SIPP platform later this year so see what they would be charging (their ISA platform is 0.15%) and consider a transfer.
    If you choose index funds you can never outperform the market.
    If you choose managed funds there's a high probability you will underperform index funds.
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