Legal and General fund advice

Scot4Moneysaving

I have an old workplace pension with around £37k in it. I'm 35 and am no longer contributing to it because i have a workplace pension with my current employer (scheme administered by AVIVA).

I've left it with L&G as i felt it meant i don't have all my eggs in one basket, and, given the amount of time before i'll be retiring (at least 23 years) I wondered if i should change the investment.

It's currently in Legal and Generals (PMC) multi-asset fund. I wondered if anyone could give me some advice about a better fund. When I say better, I do realise it's to do with risk profile etc. so i'd consider myself to be relatively cautious, but, because this pot is separate and won't be having more money added, i'm a bit more comfortable in taking some risk with it.

I've tried looking through the info on the L&G site, and have read the forums here but a number of the funds being described (vanguard, black rock etc.) are not available through l&g.

I would also be willing to considering transferring it to another provider if that was important. I would also be looking for a managed fund as I don't want to be continually having to track how different funds are doing and switching manually.

Any and all advice gratefully received!

CBX1985

Does your current employer allow you to transfer this deferred pension to them?

The problem with just moving your pension/fund is you need to know where and what you are going, and what you plan to achieve. The fund you mention is well diversified, so you aren't necessarily protecting yourself from eggs and baskets - generic funds like this are designed as a cookie cutter to keep costs low; but diversified from within.

Most people on here are not allowed, and certainly not competent, to just say take x fund - as it might not suit you and your individual circumstances.

Speak to a financial adviser, or leave alone would be my guidance.

Brynsam

Find out which funds are available to members of your old scheme. Could be there is little or no choice if this was an occupational arrangement run by trustees, rather than a personal pension where you contract direct with L&G. Please then come back and update the thread accordingly and I'm sure someone will be able to comment helpfully.

Scot4Moneysaving

There are a large number of funds to choose from.

Under my pension account it says Legal and General Worksave Pension Scheme A.

When I then click into it, as I say it's invested in multi-asset fund PMC

When I click into what funds are available to me, there are 147 of them - do you want me to list them all, or will it just be the case that I have access to all of the funds that L&G do?

There's a list of 25 fund managers from Aberdeen, Aviva, Blackrock, HSBC through to Standard life and under fund types, I appear to only have the choice of governed, lifestyle or pathway.

Thanks again.

dunstonh

You need to decide whether you have the knowledge and understanding to build your own portfolio (to DIY) or to use an IFA to do it for you or to stick to using a multi-asset fund.