aviva versus aegon versus other

hilarykl

Thank you

Ther reason for staying with AVIVA Designer Pension is that we have been relatively happy with it and its performance, and it seems a safe bet for us. We assume less charges to move into one we have already set up. We have been with Aegon since 2003 but not sure how well it is performing, hence the query. We dont want to be tied into an IFA if we dont need to becuase our experIience hasn't been universally positive and we dont want to continue paying every time we make a change or take our pension. We are not adverse to one off payments for expertise. The AVIVA was set up through work scheme originally and we continued it after my husbands redundancy

So we risk averse, not particulary experienced and with no spare money after this for my husbands pension, having maxed on tax free ISA for him etc. Does this make sense

any thoughts welcome

dunstonh

We assume less charges to move into one we have already set up.

That is not a correct assumption. It can be right but modern plans are frequently cheaper and offer the same investments.

We dont want to be tied into an IFA if we dont need to becuase our experIience hasn't been universally positive and we dont want to continue paying every time we make a change or take our pension.

It is illogical to take that position on the basis of a past issue. Especially if it was long ago. IFAs have an excellent reputation and if its better and cheaper, it seems silly not to follow through. (especially when half of people seeing an FA think they actually saw an IFA. FAs have been where the main historical issues were)

hilarykl

Thank you

we will ask for the costs up front to move from Aegon and then perhaps armed with that information may seek adavice from an IFA. best wishes

jem16

hilarykl wrote: »

Thank you

we will ask for the costs up front to move from Aegon and then perhaps armed with that information may seek adavice from an IFA. best wishes

You're going about this in the wrong way. You need to see an IFA first as he/she will be able to do a cost analysis against what you have now compared with what is available. You are unlikely to be able to do this on your own.

hilarykl

what do you think about the ones that offer this on the internet?

any thoughts gratefully recived

dunstonh

what do you think about the ones that offer this on the internet?

You mean IFAs with a website? In theory it shouldnt be any different to local IFAs that you can pick and see face to face other than the fact one you can see, the other you cannot.

However, you do need to make sure that it is the same service. Some internet sites dont give advice. They let you make the decisions and pick the providers and do your own research. So, you need to decide if you are up to that or not.

hilarykl

thank you for advice

hilarykl

With ther latest news on AVIVA our appetite fro moving our aegon pension over has decreased anyway

My concern about new ones is the upfront starter costs and fees whereas once we have saved for a few years presume these are covered, and just regular savings cost, hence our reluctance to seach the market or even hire new IFA's

Again this may be a rather naive question and the fees in transfer and early years are covered?

welcoem thoughts

bigadaj

hilarykl wrote: »

With ther latest news on AVIVA our appetite fro moving our aegon pension over has decreased anyway

My concern about new ones is the upfront starter costs and fees whereas once we have saved for a few years presume these are covered, and just regular savings cost, hence our reluctance to seach the market or even hire new IFA's

Again this may be a rather naive question and the fees in transfer and early years are covered?

welcoem thoughts

That's generally not the case, newer products in financial services are frequently better value. Do your own research whether you use an ifa or not, knowledge is power after all.

hilarykl

Many thanks I think we will do soemr esearch as you say

The advice from this site has been very helpful

Best wishses

hilary