Public Service Pension with SIPP: What % of VLS / HSBC would be best for my needs / timescale?

Sun-Is-Fun

I've got five years until I can retire (luckily 55 if all goes well). From doing my calculations, I will have approx 9-10K per annum from a Public Service pension from a previous life if I take it then. I also have a SIPP, with nearly 100K in at present value, which has a mixture of VLS 40%, 60% and HSBC Global Strategy Balanced and Conservative.

Initially, I was going to exhaust the SIPP, taking the full amount up to the tax threshold each year until I was 60, when I was going to take my Public Service pension with no reduction, but I have changed direction and have decided to take the public service pension at 55 and supplement it with 3-4K up to the tax threshold from my SIPP (or more if I need it that particular year). 

My question, to all those knowledgeable people on here, is what percentage of VLS and or HSBC should I go with over the next five years until 55 and then after that? I might be using this SIPP to withdraw from until approx state pension retirement age at 67 - so another 17 years or more from now.

I really appreciate your help on this and would be grateful to hear your viewpoints.

dunstonh

which has a mixture of VLS 40%, 60% and HSBC Global Strategy Balanced and Conservative.

That is a significant overlap.  What investment strategy are you following that requires you to segment your portfolio into different risk profiles?

but I have changed direction and have decided to take the public service pension at 55 and supplement it with 3-4K up to the tax threshold from my SIPP (or more if I need it that particular year). 

Are you able to take it at 55 without reduction or is a reduction applied?

Would taking the SIPP over several years and delaying the DB scheme be better?

My question, to all those knowledgeable people on here, is what percentage of VLS and or HSBC should I go with over the next five years until 55 and then after that? 

Up to you based on your investment and drawdown strategy.  

Sun-Is-Fun

That is a significant overlap.  What investment strategy are you following that requires you to segment your portfolio into different risk profiles?

I've tried to do a bit or reading around the subject and, rightly or wrongly, some suggest to have a Stocks & Shares allocation of about your age, hence mine is about 50% with the mixture of 60% and 40% portfolio. Whether this is the best approach, I don't know.

Are you able to take it at 55 without reduction or is a reduction applied?

Would taking the SIPP over several years and delaying the DB scheme be better?

It would be reduced if I take at 55 instead of 60. I did consider waiting until 60 but if I die, my children can access what is left of my SIPP (which would be more if I only pulled out a few thousand a year), compared to the public service pension would be halved to one nominated person.

Albermarle

I've tried to do a bit or reading around the subject and, rightly or wrongly, some suggest to have a Stocks & Shares allocation of about your age, hence mine is about 50% with the mixture of 60% and 40% portfolio. Whether this is the best approach, I don't know.

The more professional/experienced investors do not like to see a lot of similar funds overlapping in the same portfolio. However from a more simple point of view with the four together you have an approx 50% equity low cost multi  asset portfolio and the overlap will not result in more charges, so no big problem.  Some would argue for more equity at your age , some wouldn't .