Full time Mum pension advice needed

Decision_Time

Something like the

LifeStrategy® 60% Equity Fund - Accumulation

might be suitable for you (sorry I've not been around long enough to post links)  - it's not too risky and it's not too safe and is generally considered a reasonable fund to invest in, so could be what you're looking for.

Alexland

Decision_Time said:

LifeStrategy® 60% Equity Fund - Accumulation

it's not too risky and it's not too safe

With 40% bonds which seem likely to go nowhere good for the near future then I would argue it's too safe for a 42 year old. For a new account then the OP can afford to take more stock market exposure, at least 80%, because they have at least one full market cycle (probably more) until they are likely to draw the money. If stock markets crash it will good for them to be buying a greater number of units with their regular contribution. They may wish to consider a Vanguard Target Retirement fund which would start off more adventurous and derisk as they approach their target date.

Secret2ndAccount

I encourage OP to go one step further: 100% equity.  LifeStrategy100 or Vanguard FTSE All-World.
Husband is making decent contributions to his pension, so there's no need to be overly conservative - you already have diversified sources of pension. The only thing you have to do is hold your nerve if the stock-market tumbles. Your contributions will buy you extra units at sale prices during that time, and recovery will come. You have time to wait. The alternative - some of your money in bonds - is not good right now, and nobody knows when or if bonds will come back.
I prefer the FTSE All-World fund because the way it distributes investments around the world is more reflective of the world's stock-markets than the LifeStrategy funds. It's not likely to be a night and day difference in the end.
There is nothing inherently wrong with the Target Retirement funds, but they can end up moving your investments from riskier (faster growing) to safer (slower growing) at the wrong time in your life. It depends on how you plan to use the money. Therefore, you very occasionally need to cast an eye over them and make sure they are doing the right thing for you. If you're going to do that, might as well just be in the LifeStrategy or FTSE All-World, and switch it yourself when you want to protect your money more than grow it.

badmemory

From the point of view of tax to be paid in retirement - if your pensions are going to be less than your personal allowance it would be better if your husband helped you to contribute to your personal pension & paid less into his own.  As far as I am aware if you go first he will inherit your SIPP anyway

Albermarle

badmemory said:

From the point of view of tax to be paid in retirement - if your pensions are going to be less than your personal allowance it would be better if your husband helped you to contribute to your personal pension & paid less into his own.  As far as I am aware if you go first he will inherit your SIPP anyway

It depends on who is named as beneficiary of the pension . If nobody is named ( not a good idea and it only takes 5 minutes)then presumably it would go the the spouse unless there were some special circumstances.