Consolidate pensions to SIPP

JTT74

I’ve got a few pension pots from various sources.

I’m sure I can get a better fee structure by consolidating.

Total value initially will be about £150-170k

Growing to double or so over next few years.

How do I determine the best SIPP and fees.

Any calculators or general consensus on best / cheapest way forward.

I have the vanguard ISA and like the ready built portfolios.

Thx

tacpot12

Have a look at this thread:https://forums.moneysavingexpert.com/discussion/5583030/coolly-comparing-investment-platform-charges-snowmans-spreadsheet

Alexland

With FSCS protection at only £50k (growing to £85k next year) then we deliberately have 2 pensions each with unrelated providers to reduce the potential loss to an acceptable level. It costs a bit more in fees but its all pretty cheap anyway - the average total platform and fund management cost of my two pensions is now down to 0.29%.

An alternative would be to buy into an insured personal (or stakeholder) pension via an IFA or Cavendish which if you stay invested in insured funds would have 100% protection:

https://www.cavendishonline.co.uk/pensions/personal-pensions/

Alex.

dunstonh

I!!!8217;m sure I can get a better fee structure by consolidating.

Or potentially worse. Not all old plans are bad. Some modern options are overly expensive.

Growing to double or so over next few years.

I assume you mean through contributions as it wont be through growth.

How do I determine the best SIPP and fees.

Deciding on the features and options you want and researching the providers that meet those objectives and offer the features.

I have the vanguard ISA and like the ready built portfolios.

Vangaurd is great for small values.

AnotherJoe

If you like Vanguard, they have a SIPP coming in the Autumn.

JTT74

Why vanguard is only good for small amounts? Thx

Alexland

JTT74 wrote: »

Why vanguard is only good for small amounts? Thx

It's more of a comment on ready built portfolios. With larger pots any trade fees become less significant so it is possible to build a similar allocation from individual funds from multiple fund managers which may enable you to achieve a lower cost (and maybe the holy grail of outperformance). Still it's marginal and my view is that multi asset funds are fine for large pots too.

Alex

dunstonh

JTT74 wrote: »

Why vanguard is only good for small amounts? Thx

There is more to investing than VLS. Larger amounts make the running of bespoke portfolios more cost effective and the returns on those can be better. it is not cost effective to run bespoke portfolios on smaller amounts.