Seeking bit advice on my own pension

Pipthecat

Mick70 said:
if we should be looking to transfer all of this into a different vanguard fund (ie 60:40), unsure if you are actually able to do this

I can't comment on the choice of funds.  Personally I chose Lifestyle over Target as I was taking the view that I would be investing past the point of 'retirement'.  If you are on the Vanguard platform the process of swapping funds is straightforward. Under My Pension go to Investments and to the right of the one you want to swap (under Actions) is the option to switch some or all.

QrizB

Pipthecat said:

Mick70 said:
if we should be looking to transfer all of this into a different vanguard fund (ie 60:40), unsure if you are actually able to do this

I can't comment on the choice of funds.  Personally I chose Lifestyle over Target..

LifeStrategy over Target Retirement?

NlghtOwl

Surely the question is what are your projected expenses if you were both to stop working. Then you can add drawdown to current db pension to fill the gap before state pension and see if it all works out. Having a healthy amount in cash is fine if you’ll use that to drawdown from. Good luck 

Pipthecat

LifeStrategy over Target Retirement:

That's what I meant

Mick70

Pipthecat said:

Mick70 said:
if we should be looking to transfer all of this into a different vanguard fund (ie 60:40), unsure if you are actually able to do this

I can't comment on the choice of funds.  Personally I chose Lifestyle over Target as I was taking the view that I would be investing past the point of 'retirement'.  If you are on the Vanguard platform the process of swapping funds is straightforward. Under My Pension go to Investments and to the right of the one you want to swap (under Actions) is the option to switch some or all.

if you swap funds  ie from a target retirement to a life strategy fund , are you likely to immediately lose value , unsure how the process works and if it is a No No or something people do at times and no immediate impact in the overall fund value

Pat38493

Mick70 said:

Pipthecat said:

Mick70 said:
if we should be looking to transfer all of this into a different vanguard fund (ie 60:40), unsure if you are actually able to do this

I can't comment on the choice of funds.  Personally I chose Lifestyle over Target as I was taking the view that I would be investing past the point of 'retirement'.  If you are on the Vanguard platform the process of swapping funds is straightforward. Under My Pension go to Investments and to the right of the one you want to swap (under Actions) is the option to switch some or all.

if you swap funds  ie from a target retirement to a life strategy fund , are you likely to immediately lose value , unsure how the process works and if it is a No No or something people do at times and no immediate impact in the overall fund value

Not really.  The funds will be sold to cash, and then re-invested in the new fund, so there is a short time when they would be out of market.

Other than that, you mostly won’t lose value.  If the fund mix of the fund you are selling if very different from the one you are buying, and the one you are selling has lost a lot of value recently in the parts that are not in the new one, if you see what I mean, you are effectively locking in those losses.  However you may find that currently your target retirement and your lifestrategy are having roughly the same components - you would need to look at the portfolio information on Morningstar or another site to compare.

Example, - the Vanguard target retirement fund quoted in your OP has pretty much the same proportions of bonds/stocks right now, as the Lifestrategy 60, so it shouldn’t make any immediate or lasting difference - it’s just that your fund mix won’t be automatically moved in the future until you decide to do so.

Mick70

thanks for sharing this knowledge Pat , posters like yourself do help the likes of me and others who at times find pensions a bit of a minefield
cheers