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PensionBee V Virgin Money pension
JustinTime19
Posts: 85 Forumite
Ive been wirh PensionBee for a number of years where i consolidated seperate pensions that i had. I am considering moving to Virgin Money due to a great promotional offer and wondered what peoples thoughts were on Virgin Money for managing pensions.
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The fees (the only thing you control) are too high on both of these. What’s the approximate value of the pension then I’ll point at platform of choice from the monevator site.0
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0.75% - https://uk.virginmoney.com/pensions/charges/. Is that so bad? JustinTime are you referring to the offer where you get Virgin Red Points? This looks quite attractive to me.MX5huggy said:The fees (the only thing you control) are too high on both of these. What’s the approximate value of the pension then I’ll point at platform of choice from the monevator site.0 -
0.75% - https://uk.virginmoney.com/pensions/charges/. Is that so bad?Yes. it's more than double what is available with low-cost options. Indeed, its almost the cost of a portfolio including the cost of an IFA giving ongoing advice.
A DIY option costing nearly the same as an advised option is not good value for money.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
I'm going to move this to the Pensions board
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0.75% all in ( for platform and investment) is not bad if you have a managed fund. However if you have a low cost passive fund on some platforms the cost could be as little as 0.15% - 0.5%Chomeur said:
0.75% - https://uk.virginmoney.com/pensions/charges/. Is that so bad? JustinTime are you referring to the offer where you get Virgin Red Points? This looks quite attractive to me.MX5huggy said:The fees (the only thing you control) are too high on both of these. What’s the approximate value of the pension then I’ll point at platform of choice from the monevator site.0
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