I have a zombie fund pension is it worth transfering into a SIPP?

mistercovert

Hi I contracted out of SERPs many years ago into a Britannic assurance personal pension fund(now Phoenix). It is now worth £7.2K and has a transfer value of £6.7K. The pension has been performing poorly with the Phoenix zombie funds, and I have been considering transferring it into a SIPP. I would like to invest in funds from South America, India and far east so I don't mind some risky investments as I also pay into a local authority works pension scheme. I am 41 years old, married, my wife pays into the NHS superann scheme and she also has a personal pension as well.

The H & L sipp deal appeals to me, will having only 6.8k to transfer in be seen as being no enough, I can happily commit a monthly amount as well to increase the fund.

Should I transfer or should I stick with the zombie fund and 3% growth?

Rob H

dunstonh

Should I transfer or should I stick with the zombie fund and 3% growth?

You are never going to get much more of a return than a savings account with a zombie fund. Although if there are unit linked funds available to you then these could be a valid alternative.

That said, you have shown interest in what the better personal pensions and a SIPP are best at and that is range of investment choice. The areas you mention are obviously very high risk so if you plan to enter into those 100% then it is a a bit of a gamble and you may want to read up more on portfolio building and diversification. You could easily find you sky rocket past the performance of the Phoenix pension or completely bomb out and lose most of the fund value.

EdInvestor

Might as well give it a go, you have little to lose.