Phased retirement plan - any suggestions

santamed

I have a Scot Equit phased retirement plan with a current value of around 185.000 which I intend to start drawing retirement money from. The current spread of investments within the plan are
Baillie Gifford Bal Man 12%
Lazard Euro Smaller Cos 14%
Tech 7%
North America 10%
UK Equity 42%
Uk Smaller Cos 17%
I know it does not add up to 100% because I have rounded up
Moving to another company is not an option because I will lose about 17% but can anyone offer any advice about the spread of investments and other options within Scot Equit. I will need to take about 10.000 for the first 3 years and then less when the state pension kicks in/
Many thanks as I have never taken any keen interest in investment portfolios and any suggestions will be gratefully received.

mrbadexample

Spam.....browntoa on the case.....

DavidLaGuardia

A tax efficient way of realising £10,000 would be to take a segment of the fund worth £40,000 and £10,000 would be released tax free and the remainder could be put into an income drawdown (unsecured pension) from which you take no income. This leaves the rest growing in the pension for you to decide an action plan in three years

Firtly you need to decided whether it says with Scot Eq or not, they would
not be my first choice

Secondly, (in my opinion) its a strange mix of funds, especially the use of a balanced managed fund among funds picked from individual sectors.

EdInvestor

santamed wrote: »

I have a Scot Equit phased retirement plan with a current value of around 185.000 which I intend to start drawing retirement money from.

Could you explain a bit more about the nature of the plan?Have you already taken tax free cash out of the pension?

Lazard Euro Smaller Cos 14%
Tech 7%
Uk Smaller Cos 17%

These investments fall into the high risk category.40% is a lot to have in high risk if you are about to retire.

Moving to another company is not an option because I will lose about 17%

Why is that?

DavidLaGuardia

santamed wrote: »

Moving to another company is not an option because I will lose about 17%

I suspect you have a plan that offered a very high allocation when you entered, with a declining penalty oif you retired early. I suspect you would suffer penalties if you took benefits early, even iif it were left with Scot Equitable (check this out though),

santamed

From what I can see there was an increased allocation of around 17% applicable to age 75 but decreasing annually from when I started the plan (7 years ago).
I agree it seems a strange mix now (on reflection) but that was how it was set up for me (on advice) and I was led to believe it was a good balance.
I need to take £10000 per annum from this plan to add to my other incomes.
I am a bit concerned that it looks to me to be a high risk mix and that is why I posted the question
Thanks

dunstonh

7 years ago is the key thing here. Products have moved on a long way in that time.

santamed

*Products have moved on a long way*

thats why I am looking for hept because I suspected this was the case.