changing from a stakeholder pension to another

elvis27

hello I don't know if this can be done but here goes.

i have a stakeholder pension with axa which hasn't preformed well over the last year and i want to transfer to another one with abit more of a risk to it in performance.will there be a cost to transferring from one company to another or is there just a fee when starting the fund up.any good funds you can recommend with a high risk to them.
thanks for any help forwarded

elvis

jem16

The stakeholder is just a tax wrapper - it doesn't make or lose money, the investments within it do.

You haven't mentioned what funds you are actually invested in within the stakeholder. If they are not doing well you could transfer to different funds still with the same provider.

You could of course transfer to a different provider if they had a better fund range.

elvis27

hi jem my funds are split between a retirement fund 2040 and 2035 and they don't offer much of an alternative in high risk funds

dunstonh

i have a stakeholder pension with axa which hasn't preformed well over the last year and i want to transfer to another one with abit more of a risk to it in performance

Do you have the axa saver stakeholder pension or the AXA investor stakeholder pension?

The saver version is quite poor as it only has one fund which has a 60% UK equity and 40% global equity spread (these are the lifestyle funds which it sounds like yours is. The investor version offers a range of AXA internal funds.

What I dont understand is why you think it hasnt performed well over the last year. A fund with a 60:40 split that like has done well.

they don't offer much of an alternative in high risk funds

The fund you have is medium/high risk already. They do have higher risk funds on the investor version.

elvis27

hi dunstoh yes the fund has done ok but i want something abit more risky. yes i'm in the saver stakeholder pension. would axa transfer from one fund to another without penalty or not.
some funds i was looking at were
axa japanese equity fund
axa european fund
glg continental europe fund
axa north america
any thoughts on these funds

Emmamumof2

As its a Stakeholder you wont be charged a penalty by Axa for moving it out of those funds to a new provider - you may be charged an initial charge by the new provider depending upon who it is and which contract you choose. There are some new Stakeholder contracts out there with competitive charges that offer links to externally managed funds from well respected investment houses and there are those who have a wider range of internal stakeholder funds - it all depends what you're looking for in terms of level of charges, how many funds you want to invest within in the medium - high risk arena and the size of the fund.....