Comparing workplace pensions or SIPPs

SSTJCKel

I have a number of workplace pensions which I want to combine to save admin charges. I am also paying off some high interest debt which should be sorted within the month. I want to use the payments that were allocated to the high interest debt to make additional contributions to the pension where I will combine all the other pensions or put it into a SIPP or maybe an ETF with Vanguard or similar. I'm 62 by the way and dont expect to be retiring any time soon. My total pension pot so far is slightly over £100k so I guess i'm looking for rapid growth to increase the income available when I do retire. So questions:-
Is it possible to find a performance table for my current pensions so I can combine them all into the highest performing one?
Or what should I be looking at to judge which one to combine the others into?
If I decide to go for a SIPP what should I be looking at to compare SIPPs?
Is there a performance table for SIPPs?
At the moment i'm erring toward an ETF like Vanguard although I think they do a SIPP as well but don't know if this would be a good choice.
My current employer will not increase their contribution if I increase mine which is why i'm looking elsewhere.
I've now looked at so much information on the above my head is spinning so any advice on how to break down my choices would be welcome .

Marcon

If you head stops spinning long enough(!), try reading this before going any further: https://www.thisismoney.co.uk/money/pensions/article-3550085/STEVE-WEBB-merge-small-pension-pots.html

Hopefully it will be helpful rather than just adding yet more info to an overloaded brain...

Albermarle

Is it possible to find a performance table for my current pensions so I can combine them all into the highest performing one?

The main point here is that a pension does not perform , it is the investments within it . The pension itself is just an administrative wrapper that organises your payments in and out ,  sorts out the tax relief etc .

So you could have a pension  A and in it is investment Z . Then Pension B with Investment Y .

If Y does better than Z it does not mean Pension B is better . If Pension A was invested in Y it would perform the same.

So to compare all your current pensions is quite a task as you investigate all the investments in each one.

A SIPP is just another pension , so same comments apply . Some might have slightly lower charges or a snazzier website but it is what to invest in within the SIPP that matters. ( A Vanguard ETF is an investment not a SIPP and there are quite a few different ones )

o I guess i'm looking for rapid growth

A quest for rapid growth will also bring more risk of the opposite happening 

To be blunt ,overall you seem pretty confused . I suggest you step back and learn more about pensions and investing before doing anything .Or go and see an IFA .

dunstonh

My total pension pot so far is slightly over £100k so I guess i'm looking for rapid growth to increase the income available when I do retire. 

Rapid growth can also result in rapid loss.  The more you move up the risk scale, the more extreme the zig zagging of the value will be.   Time dilutes risk but at 62, you probably dont have the luxury of time.

Is it possible to find a performance table for my current pensions so I can combine them all into the highest performing one?

Pensions do not perform.   Investments perform.  If you have the same investments in pension A as you do in pension B then returns would be the same.

Or what should I be looking at to judge which one to combine the others into?

Functionality, software, charges, investment availability (in case its not whole of market), financial strength.

If I decide to go for a SIPP what should I be looking at to compare SIPPs?

Same as above.

Is there a performance table for SIPPs?

No as SIPPs do not perform (as mentioned above).

At the moment i'm erring toward an ETF like Vanguard 

Vangaurd is not an ETF.  Vanguard is a fund house.  ETFs are an investment instrument.  Vanguard offer some ETFs as do many others.      Unless you are looking at a global ETF (inc UK) then you would be looking at multiple ETFs. Not just one.  Vanguard also offer OEICs (which are used by more people than ETFs).

although I think they do a SIPP as well but don't know if this would be a good choice.

They dont do a SIPP.    Although many refer to it as a SIPP (Vanguard also refer to it as a personal pension but its not one of those either.  My understanding is that it is a master trust scheme but I have never checked).  Don't be too hooked up on pension type.   Focus on what they offer and whether it meets your objective.

Vanguard do not offer the best trackers in every area.  So, if you go with a restricted option rather than a whole of market option then you need to be prepared to potentially compromise on your investments.

thickasabrick

SSTJCKel said:

I have a number of workplace pensions which I want to combine to save admin charges.
snip
Is it possible to find a performance table for my current pensions so I can combine them all into the highest performing one?
Or what should I be looking at to judge which one to combine the others into?
If I decide to go for a SIPP what should I be looking at to compare SIPPs?
Is there a performance table for SIPPs?
At the moment i'm erring toward an ETF like Vanguard although I think they do a SIPP as well but don't know if this would be a good choice.
snip

For each of the pensions you should be able to find out how many units of whatever fund it is invested in. The fund factsheet will have the name and an ISIN number or SEDOL number which can be used on the financial research websites  e.g. morningstar, trustnet, yahoo finance.
For example "Vanguard LifeStrategy 60% Equity Fund" ISIN GB00B4R2F348
On Morningstar https://www.morningstar.co.uk/uk/ enter the ISIN number GB00B4R2F348, select the fund from the list then select the "Perfomance" link. You should see annual returns for the last 5 years.

Monevator has an article "Compare the UK’s cheapest online brokers" scroll down past the tables to the section "more guidance" and select the article "Choosing the right investment platform"

SSTJCKel

thickasabrick said:

SSTJCKel said:

I have a number of workplace pensions which I want to combine to save admin charges.
snip
Is it possible to find a performance table for my current pensions so I can combine them all into the highest performing one?
Or what should I be looking at to judge which one to combine the others into?
If I decide to go for a SIPP what should I be looking at to compare SIPPs?
Is there a performance table for SIPPs?
At the moment i'm erring toward an ETF like Vanguard although I think they do a SIPP as well but don't know if this would be a good choice.
snip

For each of the pensions you should be able to find out how many units of whatever fund it is invested in. The fund factsheet will have the name and an ISIN number or SEDOL number which can be used on the financial research websites  e.g. morningstar, trustnet, yahoo finance.
For example "Vanguard LifeStrategy 60% Equity Fund" ISIN GB00B4R2F348
On Morningstar https://www.morningstar.co.uk/uk/ enter the ISIN number GB00B4R2F348, select the fund from the list then select the "Perfomance" link. You should see annual returns for the last 5 years.

Monevator has an article "Compare the UK’s cheapest online brokers" scroll down past the tables to the section "more guidance" and select the article "Choosing the right investment platform"

Thank you thickasabrick.... Your obviously not :-)
Thats exactly what I needed.