Aviva Wrap do I leave it be or move on ?

brucieboy

Hi

We were advised my our neighbour to look at this scheme as they were already in it

We transferred both our frozen pension pots (old jobs) at the time 2.5 years ago

It is on a medium to high risk ,it has returned 50% in 2.5 years so am very pleased about this

We are both 49 our combined pot is now £250,000

We are looking at possible semi retirement at 55,with a view to getting less stressful jobs

I know you can't guarantee market forces but if it carries on at the level it is now then the the total could be a ridiculous amount of money

So being sensible we will hopefully pay off the mortgage which will be approx £95000 at age 55 with the tax free sum leaving us £1000 a month better off if we stayed at our current jobs

Any advice given would be useful as at the moment the pot is going up like a rocket,so am getting delusions of grandeur!!


The sipp pension is calculated over 15 years with the risk being lowered near the end but with the gains I looking to retire a bit earlier

Is it best to leave it or look elsewhere?

Thanks Bruce

brucieboy

Just to add that of course we went through an IFA recommended by our neighbour

philwal_2

Your ifa should review your plan for you on a regular basis to ensure your funds are invested in line with your attitude to investment risk and that you are invested correctly for your needs. As part of this review you would need to mention your plans to your ifa

The pension portfolio on the aviva wrap is in the region of 0.3 per annum and then you would have the additional fund charges on top

If you are happy with the performance so far you would be moving for the sake of moving.

kidmugsy

Since you have a particular expenditure in mind (clearing the mortgage) and that is only six years away, it must be tempting to "lock in" some of your gains: your IFA should help with this. But it's all crystal ball territory - none of us knows what will happen.