Standard Life Pension & scottish ammicable now pru fund ?

Fast_Muchly

Hi
Im 47 nearly 48 and have a transfer value of nearly £85'000 over two separate standard life policies.They are with profit policies that the then financial advisor of the NatWest told me to go in.These seem to be putting on in past two years about £7000 eveytime even though I have had to cut back on investing into the funds and have only just started again with a tiny £50 a month ( hoping to put more in soon ).


The question is this I have an old Scottish amicable policy again with profits that was taken over by the pru.I also stopped saving into this as standard life was my main policy I was going to use this as top up after taking my main pension out after a few years.


Looking at the yearly updates about 5 years ago it was worth £14'500 transfer value now in 2013 the value has steadly gone down to £9584.82.


Am I better to transfer this and gamble ( seeing as standard life is main policy ) and put it all in a high risk policy.....hoping for good returns.If the worst came and I lost most of it,at least I know I tried but I would still have the main standard life pot there.


I was thinking of transferring it to standard life in one of the high risk funds,what do people think.I have had this Scottish amicable policy now pru for years prob around 20ish years.


Thanks

dunstonh

Looking at the yearly updates about 5 years ago it was worth £14'500 transfer value now in 2013 the value has steadly gone down to £9584.82.

Its 2014 now. Not 2013. What is the value now?

5 years prior to 2013 was before the credit crunch and the markets fell over 40%. They have since recovered which is why up-to-date figures are needed.

I was thinking of transferring it to standard life in one of the high risk funds,what do people think.

An old Std life plan retailed via Natwest is likely to be expensive compared to modern options.

Your_Hero

Fast_Muchly wrote: »

The question is this I have an old Scottish amicable policy again with profits that was taken over by the pru.I also stopped saving into this as standard life was my main policy I was going to use this as top up after taking my main pension out after a few years.

Looking at the yearly updates about 5 years ago it was worth £14'500 transfer value now in 2013 the value has steadly gone down to £9584.82.

Am I better to transfer this and gamble ( seeing as standard life is main policy ) and put it all in a high risk policy.....hoping for good returns.If the worst came and I lost most of it,at least I know I tried but I would still have the main standard life pot there.

I was thinking of transferring it to standard life in one of the high risk funds,what do people think.I have had this Scottish amicable policy now pru for years prob around 20ish years.

Thanks

With-profit pension plans can have guaranteed fund values at retirement age and also guaranteed annuity rates (GARs). Do you have either with this policy and what are they?

Remember with-profits pensions do not "go down" in value as such. You may have an MVR on the plan, i.e. a penalty for transferring before retirement age at this moment in time, in which case it would seem very costly to transfer and very unlikely to be a good idea.

Fast_Muchly

Your_Hero wrote: »

With-profit pension plans can have guaranteed fund values at retirement age and also guaranteed annuity rates (GARs). Do you have either with this policy and what are they?

Remember with-profits pensions do not "go down" in value as such. You may have an MVR on the plan, i.e. a penalty for transferring before retirement age at this moment in time, in which case it would seem very costly to transfer and very unlikely to be a good idea.

Hi I know that both my personal pension plans have a guaranteed bonus of at least 4% yearly.
But I cant seem to find out if there are any guaranteed annuity rates in place I will have to ring them and find out.


Thanks