Pension investment charges

bolzano

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.

Your_Hero

bolzano wrote: »

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.

So why do you want to transfer it to BestInvest then? You don't even know what you want to invest in.

For a small fund of £4,500 you are best served by keeping your portfolio simple with a single fund.