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Pension investment charges
bolzano
Posts: 91 Forumite
I am trying to work out if I can/should be saving money on fees in my pension investments.
I currently have 4.5k in a Standard Life Personal Pension. It is invested in the SL BlackRock Managed (50:50) Global Equity Pension Fund - I have no particular attachment to this. There is a FMC of 1% and additional expenses of 0.016%. I no longer receive any employer contributions. I contribute 100 pounds a month.
I am a good 25+ years off retirement so am looking for long term growth and am fairly open to risk at this stage.
I have been looking at transferring it to a SIPP. BestInvest looks to be a good cheap option at 0.3%.
What I am not clear on is whether transferring would get me a better deal. 0.3% + 0.75% for a fund charge say, is more than I would be paying at the moment. I know I would have much more flexibility in what I can invest in, but I'm not too clued up on the various funds / strategies. I have looked at the BestInvest ready made portfolios but the charges are not clear.
Am I way off the mark with all of this? Any help / comment appreciated.
I currently have 4.5k in a Standard Life Personal Pension. It is invested in the SL BlackRock Managed (50:50) Global Equity Pension Fund - I have no particular attachment to this. There is a FMC of 1% and additional expenses of 0.016%. I no longer receive any employer contributions. I contribute 100 pounds a month.
I am a good 25+ years off retirement so am looking for long term growth and am fairly open to risk at this stage.
I have been looking at transferring it to a SIPP. BestInvest looks to be a good cheap option at 0.3%.
What I am not clear on is whether transferring would get me a better deal. 0.3% + 0.75% for a fund charge say, is more than I would be paying at the moment. I know I would have much more flexibility in what I can invest in, but I'm not too clued up on the various funds / strategies. I have looked at the BestInvest ready made portfolios but the charges are not clear.
Am I way off the mark with all of this? Any help / comment appreciated.
0
Comments
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So why do you want to transfer it to BestInvest then? You don't even know what you want to invest in.What I am not clear on is whether transferring would get me a better deal. 0.3% + 0.75% for a fund charge say, is more than I would be paying at the moment. I know I would have much more flexibility in what I can invest in, but I'm not too clued up on the various funds / strategies. I have looked at the BestInvest ready made portfolios but the charges are not clear.
For a small fund of £4,500 you are best served by keeping your portfolio simple with a single fund.Stephen Covey once said that "when you teach once, you learn twice". That is the primary reason for my participation on the forums as an IFA.
Although I strive to provide accurate information in my posts, there may be the odd time when I fail. Yes I know it's hard to believe but even Your Hero can make mistakes. Apologies in advance.0
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