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pension review

PAC_3
Posts: 4 Newbie
Hi
I am 35 and am a member of my companies final salery pension .
Before I joined my company a couple of years ago I was paying into a scottish widows series 1 personal pension , AMC 0.875. Invested in 50% mixed 50% With Profits .
I would like comments on whether to switch out of the WP fund ( MVR now off ) or do you think it will continue to recover .
I also have access to an FP stakeholder pension AMC 0.5 that I could transfer to but another factor is units over 15 years old have no AMC and i will start to benefit from this in 7 years ( plan started 1999)
Thanks
I am 35 and am a member of my companies final salery pension .
Before I joined my company a couple of years ago I was paying into a scottish widows series 1 personal pension , AMC 0.875. Invested in 50% mixed 50% With Profits .
I would like comments on whether to switch out of the WP fund ( MVR now off ) or do you think it will continue to recover .
I also have access to an FP stakeholder pension AMC 0.5 that I could transfer to but another factor is units over 15 years old have no AMC and i will start to benefit from this in 7 years ( plan started 1999)
Thanks
0
Comments
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What is your risk tolerance - how much of a drop would you accept in one year? If you'll accept more than say 30% you're likely to end up doing better than the with profits plan, by enough that the difference in fees won't matter.
The current Scottish Widows personal pension with a hundred or so options is available for I think 0.87% AMC for internal funds, from Hargreaves Lansdown, or from one NMA IFA for about a hundred Pounds up front and about 0.67% AMC for the internal funds. Both on execution only basis, no advice. Their new one with more fund options might be more approprate for you, as might another option.
It looks as though it's worthwhile for you to have a word with a local IFA.0
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