Seeking bit advice on my own pension

2»

Comments

  • Pipthecat
    Pipthecat Forumite Posts: 83
    10 Posts
    Forumite
    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
    QrizB Forumite Posts: 12,361
    10,000 Posts Second Anniversary Photogenic Name Dropper
    Forumite
    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?
    N. Hampshire, he/him. Octopus Go elec & Tracker gas / Shell BB / Lyca mobi. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 30MWh generated, long-term average 2.6 Os.
    Ofgem cap table, Ofgem cap explainer. Economy 7 cap explainer. Gas vs E7 vs peak elec heating costs.
  • NlghtOwl
    NlghtOwl Forumite Posts: 70
    10 Posts
    Forumite
    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
    Pipthecat Forumite Posts: 83
    10 Posts
    Forumite
    LifeStrategy over Target Retirement:
    That's what I meant :)
  • Mick70
    Mick70 Forumite Posts: 711
    Fourth Anniversary 500 Posts Name Dropper
    Forumite
    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
    Pat38493 Forumite Posts: 2,220
    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Forumite
    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
    Mick70 Forumite Posts: 711
    Fourth Anniversary 500 Posts Name Dropper
    Forumite
    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
Meet your Ambassadors

Categories

  • All Categories
  • 340.1K Banking & Borrowing
  • 249.1K Reduce Debt & Boost Income
  • 448.3K Spending & Discounts
  • 231.9K Work, Benefits & Business
  • 603.1K Mortgages, Homes & Bills
  • 171.6K Life & Family
  • 245.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards