Personal Pension Dilema

[Deleted User]

Hello,


Currently looking at what to do with a pension from an old employer...


Aviva Personal pension Plan (98 Series) (UK). Transfer value as at yesterday was £37,278.67. Annual management charge is 0.875%


Just for info I am currently in the Civil Service Premium scheme which I also buy added pension for. Also have about 12 years in RBS final salary scheme.


Anyway back to the Aviva scheme... is the AMC expensive as looking at Cavendish online I could change to an Aviva Personal Pension with an AMC of 0.45% Worth the hassle of changing?


I guess this came about as considering restarting contributions. My age is mid 40s and a basic rate tax payer.


Thoughts welcome?


Cheers

atush

Do the AMCs quoted incl fund fees or are they just platform fees? Are the funds you want available on both platforms?

With 2 DB pensions, which would be reduced if taken early and reduced if you opt for an optional LS, I would sort this and add more to it. AS this PP will help you retire early w/o reducing your DB pensions.

kidmugsy

jeepjunkie wrote: »

Just for info I am currently in the Civil Service Premium scheme which I also buy added pension for. Also have about 12 years in RBS final salary scheme.

What are the Normal Retirement Ages of those two schemes?

[Deleted User]

The same fund would appear not to be available on both platforms. Well... the fund name on the current personal pension plan is similar "Series 4 Av Mixed 45-85% Shares S4" whereas on the new Aviva proposed pension there is "Aviva Mixed Investment 40-85% Series 2 & 6" but from reading the Aviva website they are not the same fund.


It would appear that the underlying fund, Series 4 Av Mixed 45-85% Shares S4 or Aviva Mixed Investment 40-85% Series 2 & 6, do not attract additional fess.


Thanks

[Deleted User]

kidmugsy wrote: »

What are the Normal Retirement Ages of those two schemes?

Hi,


Normal retirement age is 60.


Cheers

atush

If both are AVIVA pensions, and niether charges for the same fund, move to the lower platform.

then increase contributions if you want to retire before 60, or want to retire at 60 with a lump sum- better it comes from your PP than your DB pensions.

[Deleted User]

Update - Proceeding with the Aviva Personal Pension transfer to take advantage of the much lower AMC whilst staying in the same fund plus restarting contributions.

As a side note also starting an Aviva Stakeholder Pension for daughter. Overall this will represent a very small part of her portfolio and is being funded out of "free" money I make out of Quidco, Money I make form opening accounts, Money doing the round robin to earn 5% interest etc.

Cheers for your help