Consolidating previous employer pensions

Albermarle

lollynerd said:

Hi Sam,
Based on my experience with Aviva's withdrawal process, I wouldn't touch them with a bargepole.
They are cheap, but so are Vanguard and Fidelity and they offer a much better service (in my experience).

The modern retail SIPP providers ( Vanguard, Fidelity, II etc ) have generally modern software, and generally do not have all the legacy products going back 50 years and from numerous acquisitions etc 
The result is generally quicker response, although if you have a relatively new pension with Aviva, Standard Life etc it should not be so bad.

handful

SamDude said:

Thanks all.

As I look more towards moving the 3 pots to a Vanguard SIPP with Vanguard, I'm now looking to move to an ii SIPP with the same Vanguard target retirement fund.
The combined pensions are hovering at the £100k mark which is close to the £104k point where ii becomes more efficient for Vanguard investments, and I would also get £300 cashback (or £200 if it dips below £100k) from ii as a new investor.

Does anyone spot any warnings signs with what I'm about to do?

I have a SIPP with ii and have a similar sum ( about £130k) invested in one of the Vanguard Lifestyle products along with some other investments in the same SIPP. The app and portal isn't the most user friendly in my opinion but now I'm used to it I really like it. they have been good with assisting me with a particularly obstructive pension provider that I've been trying to transfer in.

SamDude

I'm getting my paperwork together to open an ii SIPP today.
Whilst I've already pivoted from Vanguard-TargetRetirement to ii-Vanguard(TargetRetirement), I'm now finding myself pivoting from ii-Vanguard(TargetRetirement) to ii-HSBC(FTSE All-World Index C).

The HSBC FTSE All-World Index Fund Acc C looks to be very similar to the Vanguard funds, but with lower charges - which is the one thing that I do have choice over.

The value of the three pots is at £101k which is looking positive on the cashback front (this is small fry, I know).

Albermarle

The HSBC FTSE All-World Index Fund Acc C looks to be very similar to the Vanguard funds, but with lower charges - which is the one thing that I do have choice over

The HSBC fund is 100% equity, with about 4% in UK .

Vanguard retirement funds have varying amounts of equity, which changes as you get nearer to the indicated retirement date. Also with a high(ish) UK %..

I would not call them similar at all ?

SamDude

Albermarle said:

The HSBC FTSE All-World Index Fund Acc C looks to be very similar to the Vanguard funds, but with lower charges - which is the one thing that I do have choice over

The HSBC fund is 100% equity, with about 4% in UK .

Vanguard retirement funds have varying amounts of equity, which changes as you get nearer to the indicated retirement date. Also with a high(ish) UK %..

I would not call them similar at all ?

Aplogies - I typo'd that.

My ISA with Vanguard is all in with the FTSE Global All Cap Index Fund Acc, so I should have stated I was comparing HSBC FTSE All-World Index Fund Acc C with this (and not the Vanguard Target Retirement funds).

Albermarle

SamDude said:

Albermarle said:

The HSBC FTSE All-World Index Fund Acc C looks to be very similar to the Vanguard funds, but with lower charges - which is the one thing that I do have choice over

The HSBC fund is 100% equity, with about 4% in UK .

Vanguard retirement funds have varying amounts of equity, which changes as you get nearer to the indicated retirement date. Also with a high(ish) UK %..

I would not call them similar at all ?

Aplogies - I typo'd that.

My ISA with Vanguard is all in with the FTSE Global All Cap Index Fund Acc, so I should have stated I was comparing HSBC FTSE All-World Index Fund Acc C with this (and not the Vanguard Target Retirement funds).

OK that makes sense. Those funds are very similar but not identical. If you check the fact sheets you will see some difference in the geographical allocations within the fund for example. Whether the differences are enough to make an appreciable difference to the end result is debatable though,

dunstonh

lollynerd said:

Hi Sam,
Based on my experience with Aviva's withdrawal process, I wouldn't touch them with a bargepole.
They are cheap, but so are Vanguard and Fidelity and they offer a much better service (in my experience).

Which Aviva are you referring to?  Aviva Life & pensions is not ideal.  Aviva Platform use the same software as Vanguard.