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Scottish Widows or HL
redmalc
Posts: 1,436 Forumite
I have a personal pension with SW and currently have approx 180k invested,looking to retire in approx 4 years.
I have most of my S&S Isa,s with HL and am looking at moving my pension to HL does anyone know if the charges are similar or is one more expensive than the other,HL have quoted 0.45% for the platform plus the fund charges.
I have most of my S&S Isa,s with HL and am looking at moving my pension to HL does anyone know if the charges are similar or is one more expensive than the other,HL have quoted 0.45% for the platform plus the fund charges.
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Comments
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Depends what you are invested in and what plan you are with with Scottish widows, older plans will be more expensive.
New insurer plans with generic investments may well work out cheaper than hl, even excluding fund charges, but older plans could be charging up to 1% or more depending on the funds.0 -
I have most of my S&S Isa,s with HL and am looking at moving my pension to HL does anyone know if the charges are similar or is one more expensive than the other,HL have quoted 0.45% for the platform plus the fund charges.
Hard to say without comparing your particular plans. SW don't have a great current business product. Its not bad. Just not what I would consider that good but it can be cheap. Certainly cheaper than HL. However, there are cheaper.
HL is a SIPP. you probably have a SHP, PPP or S226 RAC. So, there are product differences and FSCS protection differences.
HL give you no benefit for holding ISA and pension on the same platform (unusual as most platforms do).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
The HL SIPP charge has a cap of £200 p.a. as long as you avoid "funds" and stick to Shares, investment trusts, ETFs, gilts & bonds. But then you may not wish to.Free the dunston one next time too.0
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