How to pick pension fund

noodlingalong

I am an NHS DB member, aged 44, who is looking at opening an NHS group AVC with L&G as I wish to accumulate a sum to create a pot which I can draw down as required (from age 60 before my 2015 scheme pays out in full)

This scheme allows me to pick my level of risk, which I have decided is a medium to adventurous, however how can I decide which options to pick from the funds available?

Please can anyone recommend a website or Youtuber who can help me compare the numerous options available to me? It is all gobbledegook to me at the moment (whilst generally being financially savvy) & I wish to learn more. 

Thanks in advance for any pointers 

noodlingalong

Meant to say Standard Life NOT L&G oops.
New poster so can't edit yet.

gm0

If you want to understand more about DC pension investing then both the MeaningfulMoney and Pensioncraft sites have "starting out" YT videos about the basics of funds, equities, bonds, multi-asset and the language of DC pensions.  

With some of that content under your belt the information from the scheme about fund options (may) start to make a tiny bit more sense.  It likely won't talk to your specific fund choices though.

noodlingalong

Thanks gm0 I'll look into those 

Albermarle

SL website is quite informative
Investment Guides | Standard Life

Also with their personal pension they offer a 'ready made' solution. 
Funds | Personal pension | Standard Life

Beddie

noodlingalong said:

Meant to say Standard Life NOT L&G oops.
New poster so can't edit yet.

Is it these funds? Lots of data on their page about how it all works. you can use Trustnet to compare performance to other funds, but bear in mind future performance is not necessarily going to be the same. 
Pick one of the more adventurous ones and start investing, you can always review it and change things further down the line. There's no one "right" fund for you and remember fund performance will have less effect in the early years as you're building up a balance.

https://www.standardlife.co.uk/investments/funds/myfolio

noodlingalong

Thanks so much for responding Albermarle and Beddie. 

With the group AVC it appears I need to DIY it from what I can see on the website hence the need to up my DC pension knowledge so I can benefit from Salary Sacrifice. So all advice is gratefully received!

Guess I need to just jump straight in and learn as I go rather than overly worrying at the start which funds I invest in. 

It's just very daunting for newbies! 😬

Albermarle

Normally with a workplace pension there is a default fund where money goes if the employee does not choose their own funds. I believe >95% of workplace pension clients are in a default fund, as hardly anyone understands about picking funds, or wants to learn.
I know this a bit different being an AVC linked to the main pension scheme, but I am a bit surprised there is no automatic default fund.

Nurse2047

I have a prudential nhs avc and the default fund is very low risk with high fees so good to change if able to. 

Moonwolf

The tracker funds generally have low charges and you may find that with Standard Life, funds prefixed SL are particularly low.  There is evidence that over the longer term trackers outperform managed funds.

I have two world tracker funds as my core then some high risk "flutters" which are not huge percentages.  Like you I have an NHS pension so feel I can afford a bit of risk as my core lifestyle is already guaranteed.