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Time to change pension plan?

6 replies 512 views
Dear all,

Some thoughts and guidance from those far more savvy than I would be appreciated.

I have got approximately £60k invested in a Standard Life pension plan, which so far hasn’t performed disastrously in the past few weeks. There have been fluctuations granted, but it is currently performing +/-0% over the past 3 months. 

Given to date it had held up fairly well in comparison to other investments, I’m mindful that this could be an opportunity to reinvest in plans which haven’t fared so well, but are none the less likely to recover somewhat in the months ahead when hopefully normality starts to return.

The SL website seems very poor in
that I can only seem to get data for plans I specify, where as I would love to be able to just view all their pension plans and their associated portfolios and performance. However I can’t seem to find that.

Therefore I’m looking for guidance firstly that I am possibly correct in seeing this as a moment of opportunity, and secondly are there any particular areas of investments where historic trends might indicate are more akin to quicker recovery than others?

Any general input would be very much appreciated.

H2K

Replies

  • DoxDox Forumite
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    How old are you? At what age do you plan to start taking your benefits from this plan?
  • ThrugelmirThrugelmir Forumite
    71.4K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Compared to the 7 major events that have impacted the markets previously since the end of WW2. This is going to the worst of the lot. The markets will recover but when and how long will it take. Buy a crystal ball as there's no trends to follow. As yet we don't even know how long there'll be econoimc impact for. This is a truly global crisis .
    “An investor who has all the answers doesn’t even understand all the questions.” - John Templeton
  • hissy2khissy2k Forumite
    2 posts
    First Post
    MoneySaving Newbie
    Dox said:
    How old are you? At what age do you plan to start taking your benefits from this plan?

    Still very much in the investment phase. I’m 48 so won’t be looking to draw from it any time soon. 
  • AlbermarleAlbermarle Forumite
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    The SL website seems very poor in
    that I can only seem to get data for plans I specify, where as I would love to be able to just view all their pension plans and their associated portfolios and performance. However I can’t seem to find that.

    https://www.standardlife.co.uk/c1/funds/do-it-yourself-investment.page

    Go to the drop down box ' Product Type ' and put in 'pensions' - then select the name of your pension and 'check funds' 

    You have to do it this way , as not all SL funds are available in all SL products.

  • dunstonhdunstonh Forumite
    101.2K posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
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    I’m mindful that this could be an opportunity to reinvest in plans which haven’t fared so well,

    Plans do not perform.  It is the investments within the plan that give you the performance.  Most modern quality pensions are whole of market offering the same investment funds as each other.  So, they would all perform the same way if they held the same investments.


    where as I would love to be able to just view all their pension plans and their associated portfolios and performance. However I can’t seem to find that.

    This is where I think you are going wrong. As above, its not the plan that matters.  Its where you invest that matters.


    Therefore I’m looking for guidance firstly that I am possibly correct in seeing this as a moment of opportunity, and secondly are there any particular areas of investments where historic trends might indicate are more akin to quicker recovery than others?

    Your investment strategy should not change because of this (providing it is a sound strategy in the first place).  The most common method is asset/sector allocation.  i.e. x% in US, y% in UK etc.   Multi-asset funds do this for you but if you have a portfolio of single sector funds then you weightings are always fluid over an economic cycle.   This event doesn't change that.  However, the weightings themselves may change to reflect where they stand now and the risks/rewards available.

    Running a portfolio like that takes more knowledge and understanding. If you don't have that knowledge then stick with a multi-asset fund that matches your risk profile.

    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.
  • georgeheregeorgehere Forumite
    73 posts
    Part of the Furniture 10 Posts Combo Breaker
    Try this
    https://www.standardlife.co.uk/c1/funds/how-are-my-funds-doing.page

    Then as others suggest, think about exactly what your money is invested in as a first step. Who knows, the fund you are in at present may have 'held up well' because the underlying investments of the fund are very low risk .. which is also likely to mean that their potential for growth once the economy is faring better will be lower.
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