Can you transfer part of a DC pension

gandw69

i have a work DC pension with Scottish widows valued about 85k.  I don’t think it is a great Scheme but my work do contribute alongside my contribution so I want to keep it going.  I am planning on opening a new SIPP with Vanguard to invest my surplus income.
my question is can I transfer part of my Scottish Widows pension across to Vanguard whilst still keep contributing through my salary to Scottish widows?

dunstonh

Some providers/plans allow it.  Some do not.  You will need to ask SW.

Prism

We have done a partial transfer from Scottish Widows into a SIPP. And since we did the transfer the SW pension has performed better than the the SIPP which is slightly annoying.

Brynsam

Prism said:

We have done a partial transfer from Scottish Widows into a SIPP. And since we did the transfer the SW pension has performed better than the the SIPP which is slightly annoying.

Doesn't mean all SW plans offer a partial transfer facility. As already suggested, ask SW.

Albermarle

Brynsam said:

Prism said:

We have done a partial transfer from Scottish Widows into a SIPP. And since we did the transfer the SW pension has performed better than the the SIPP which is slightly annoying.

Doesn't mean all SW plans offer a partial transfer facility. As already suggested, ask SW.

I have also done a partial transfer from a SW pension to a SIPP. If I remember correctly I did not contact them but found the relevant clause in the T's & C's of my particular scheme.

Albermarle

Prism said:

We have done a partial transfer from Scottish Widows into a SIPP. And since we did the transfer the SW pension has performed better than the the SIPP which is slightly annoying.

It is not quite the same but the SIPP + Fund charges are higher in my SIPP than in my SW pension , but there is more choice .
It seems a widely held view that moving to a SIPP means lower charges, and better performance , but that is not always the case. 

Prism

Albermarle said:

Prism said:

We have done a partial transfer from Scottish Widows into a SIPP. And since we did the transfer the SW pension has performed better than the the SIPP which is slightly annoying.

It is not quite the same but the SIPP + Fund charges are higher in my SIPP than in my SW pension , but there is more choice .
It seems a widely held view that moving to a SIPP means lower charges, and better performance , but that is not always the case. 

Yes, in our case the total charge for the multi asset fund in the SW workplace pension is 0.69% and in the SIPP it would be 0.67%. The SIPP costs £1.50 per transaction and the SW pension has free transactions. 

It is about the choices like you say.

gandw69

Thanks all for comments got confirmation from SW that I can transfer part of my pension and also confirmed that the annual charge for my workplace pension is currently 0.65%. So now time for me to do the math and start comparisons.