Moving pension from Standard Life to Sipp.

stulaunch

I'm pretty sure I'd be best moving A Standard life pension into my AJ Bell SIPP.
Just wondered how I go about it. It's an old contracted out Pension. It's split into 2 investments. 1 is with profits fund and the other is SL managed pension fund. Only around £20k in all.

Would  I have to tell SL to move investments into cash 1st? then ask AJ Bell to do the rest?

BoxerfanUK

My wife just moved a Standard Life with profits workplace pension into her Interactive Investor SIPP and all went very smoothly.  From instructing ii to effect the transfer on 22nd March monies arrived into her ii SIPP today.

She just instructed ii and they arranged everything.  They will automatically transfer into cash unless the investment holdings can be transferred from one provider to the other, which in her case with SL they could not.

dunstonh

I'm pretty sure I'd be best moving A Standard life pension into my AJ Bell SIPP.
Just wondered how I go about it. It's an old contracted out Pension. It's split into 2 investments. 1 is with profits fund and the other is SL managed pension fund. Only around £20k in all.

Is the SL WP fund the default WP fund or the Millenium WP fund?       One has a guaranteed minimum growth rate, and the other doesn't.

Would  I have to tell SL to move investments into cash 1st? then ask AJ Bell to do the rest?

There is no cash option with insured pensions with SL.

stulaunch

dunstonh said:

I'm pretty sure I'd be best moving A Standard life pension into my AJ Bell SIPP.
Just wondered how I go about it. It's an old contracted out Pension. It's split into 2 investments. 1 is with profits fund and the other is SL managed pension fund. Only around £20k in all.

Is the SL WP fund the default WP fund or the Millenium WP fund?       One has a guaranteed minimum growth rate, and the other doesn't.

Would  I have to tell SL to move investments into cash 1st? then ask AJ Bell to do the rest?

There is no cash option with insured pensions with SL.

Only £8k is in WP fund, has a minimum 4% guaranteed growth. Feeling my SIPP which is invested in HSBC GS Balanced will better that anyway and has lower fees.

dunstonh

Only £8k is in WP fund, has a minimum 4% guaranteed growth. Feeling my SIPP which is invested in HSBC GS Balanced will better that anyway and has lower fees.

Overall, possibly yes.  However, the bonds element of the HSBC GS Balanced would have performed less than the SL WP fund over the last 7 years.    So, creating your own HSBC GS Balanced in the SL plan would have been better (i.e. keep the WP fund for the bonds element and put the rest in a global tracker).

stulaunch

dunstonh said:

Only £8k is in WP fund, has a minimum 4% guaranteed growth. Feeling my SIPP which is invested in HSBC GS Balanced will better that anyway and has lower fees.

Overall, possibly yes.  However, the bonds element of the HSBC GS Balanced would have performed less than the SL WP fund over the last 7 years.    So, creating your own HSBC GS Balanced in the SL plan would have been better (i.e. keep the WP fund for the bonds element and put the rest in a global tracker).

Hi dunstonh, Not sure how to go about this. Logged into my SL pension, I see I can sell the SL managed pension fund part, but I don't understand the bit where you said " create your own HSBC GS Balanced" part? 
The only 2 HSBC funds I see being offered are the Islamic Global equity index pension fund & the HSBC World selection balanced portfolio.

dunstonh

 I don't understand the bit where you said " create your own HSBC GS Balanced" part? 

HSBC GS Balanced is a mixture of bonds and equities.   It bundles all the elements into a single fund.

The SL With-Profits fund has a guaranteed minimum growth rate.   So, that could be used as your bond element.   You just need a global tracker for the other part.  Not from HSBC but whoever SL offer (often Vanguard, sometimes Blackrock or their own branded ones).    By having x% in the WP fund and y% in the global tracker, you have created your own multi-asset portfolio like the HSBC fund.

stulaunch

Following on from this, I have an Aviva stakeholder pension, not very big, just over £20k, invested in Aviva Pension Mixed investment (40-85% Shares)

Is this something I should think of adjusting, as in Funds wise or maybe move to my SIPP which is invested in HSBC Global SB C?