Pension doing badly - where to move it to?

splodgebunny

Hi all

Having had my annual statements, one of my pensions is doing really badly and currently costing more in fees than it is making, whereas another (with less in it) is making far more

What's my best option here, to:

1. Consolidate them all into the best pension I can find?
2. Move the badly-performing pension into the better one?
3. Consolidate them into a SIPP?
4. Something else?

Apologies, the terminology on this confuses me, so simpler the better

dunstonh

one of my pensions is doing really badly

How is it doing badly?

and currently costing more in fees than it is making

Which was quite normal in 2018 as it was a loss year.

whereas another (with less in it) is making far more

And did that statement cover the exact same period?
Are the investments at the same risk level and comparable?

What's my best option here, to:

1. Consolidate them all into the best pension I can find?
2. Move the badly-performing pension into the better one?
3. Consolidate them into a SIPP?
4. Something else?

Any of those could be the correct answer.
There is insufficient information to go on to say which. There are other options as well (such as switch investments within the exisitng scheme).

I would strongly suggest you look at the investments as you may be misunderstanding what has happened (such as one pension statement covering the loss period in 2018 but not the recovery period and the other including the recovery period.)

[Deleted User]

The key question is how you evaluated performance. The correct way of doing it is by comparing against a benchmark over a reasonable period of time (at least 5 years).

The second question: what are the charges?

The third question: do you have an IPS (investment policy statement)?