pension move from AVIVA to vanguard 2030 fund

bubblybabe

hello !
In the next few days I plan to move my 190k Aviva personal pension to Vanguard.

My query is  will it be more cost effective to do the transfer to my existing i web platform rather than to Vanguard directly 
I will not be adding anymore money to the fund 
If anyone has any experience on this I would be very grateful

best wishes
Caro

MX5huggy

Vanguard no Transfer Fee then 0.15% per year (max £375, on £250k plus). 

IWeb Transfer fee £60 (per plan) then £45 per quarter (as over £50k) so £180 per year. 

So iWeb is better on £160k or more in year 1 and £120k or more in subsequent years.

You’ll also pay the fund fee 0.24% with both.

howard3844

Personally I would go with Vanguard and put in a life strategy fund ... 60 or 80 depending on your risk tolerance and age !. well diversified and I like the UK allocation as I believe the UK will be continue to be positive in the future now we have our destiny in our hands.  

bubblybabe

Thanks both , that’s really helpful 

best wishes 

Caro 

sheslookinhot

howard3844 said:

Personally I would go with Vanguard and put in a life strategy fund ... 60 or 80 depending on your risk tolerance and age !. well diversified and I like the UK allocation as I believe the UK will be continue to be positive in the future now we have our destiny in our hands.  

Equally the opposite could be true. 

Albermarle

 now we have our destiny in our hands.  

If you refer to Brexit , then we no/litlle more have our destiny in our hands now than we did a few years ago.

A small country like ours is at the mercy of global forces, like growth of China, globalisation, march of technology  etc 

[Deleted User]

Size does not matter.  Returns for the UK may under- or outperform in the short to medium term regardless  of what all of you hold in your hands.

Being a little overweight in the home market makes sense and has nothing to do with your expectations for beating the world. 

bubblybabe

Hi 

So grateful for all the contributions, thank you 


Practically how do the logistics work please?

I already have the i-web share account open , so would I transfer my existing Aviva pension to IWEB and then switch the full AVIVA pension to Vanguard life strategy ?

Any simple guidance appreciated

Than you !

Albermarle

You need to ask iweb to start the transfer process and they will handle it from there .
The transfer will have to be in cash ( as presumably your current investment in the Aviva pension is not Vanguard 2030)
When the cash arrives in your I web Sipp, then you need to then buy the Vanguard fund with it.

Pension cash transfer can be as quick as less than one week , or can take a few weeks , depending on the parties involved. Aviva are usually quick , Iweb not so quick I think .

bubblybabe

Albermarle

thank you! 

Yes, you are right Aviva not invested in vanguard at the moment 

I will start the process with iWeb and hopefully will go smoothly, then chose which life strategy fund to chose , I won’t be drawing for at least 4 years and thereafter spread withdrawals over 10 years 

Thankyou🙂🙂🙂. I have realised this forum is so friendly and the expertise here is fantastic . Especially as answers cover things I had never thought about 


X

Albermarle

Vanguard Life strategy funds and the retirement funds are not the same ( you have mentioned both )

The retirement funds rebalance/derisk as you get closer to your chosen retirement date , whilst Life strategy funds have a fixed make up that does not change .