Scottish Widows Pension Portfolio 3

ian16527

I had several ex company DC pensions put together in 2019 by an IFA. He put them in to a SW Retirement Pension Account and invested in the Portfolio 3 fund. What risk rating is this fund, as my risk profile is 5/10 middle of the road. I said at the time it had nearly 70% equities as he had queried one of my old funds as being too risky. Just noticed that this fund has dropped by a bit more than my SIPP  (Vanguard LS60 mainly) and has not recovered as quickly. I wonder whether it would be better to move funds in a few months to Portfolio 4 which seems to have a better rating on Trustnet and a little less risky? Or even moving it all to Vanguard or HSBC type multi asset funds in the SIPP.
Also, I have noticed that reading some replies on here, Scottish Widows Retirement Account has not got a good reputation with the professionals , so I wondered why that it. The costs are fair at 0.4% all in.

kinger101

I think it would help others answer your question if you indicated your current age, your planned retirement age, and whether you intend to use drawdown or an annuity.  

SW Pension Porfolio 3 hasn't performed too badly for a fund with 70%-ish equities, but I wouldn't buy it as it's fall too overweighted in the UK.  There are IMO better multi-asset funds available from SW.  But I wouldn't get hung up on short-term performance. 

ian16527

Sorry, 55 now, 60 hopefully to finish and drawdown.

Albermarle

The costs are fair at 0.4% all in.

0.4% all in is very much on the low end , rather than just fair.

When you get to drawdown, not all providers offer the same flexibility . So probably worth checking that before you start changing providers.