Standard Life - MyFolio

Hal17

Hi this is my very first post and need some general advice please. I am looking to take my 25% from my pension pot but do not need to take any further income at this time. In order to take the 25% I understand that I need to move my fund from their current stakeholder pensions into a Drawdown pension via a SIPP.

I have been looking at the the Standard Life MyFolio range and am not sure of the differences between their Managed Funds and Market Funds. I am looking for some growth obviously but I want to be a little cautious as well.

I certainly do not have the experience to manage my pension if I had to make the investment choices, other than finding a suitable scheme for my pension investment.

jamesd

You do not need to use a SIPP for drawdown. Any personal pension that allows income drawdown is fine. A SIPP has as its main feature the ability to use investments like shares and investment trusts instead of just funds like unit trusts and OEICs.

Since you're apparently unfamiliar with managing investments, have you considered making lots of use of tracker funds, with the majority of the money in say a global tracker fund? Such funds are cheap, perform only a little less well than the market, and don't require you to pay much attention.

Hal17

Thanks James, I appreciate that. I will have a look at what is available. That idea appeals to me - thanks again.