The People’s Pension

engagedandopen

I have a micro People's "Pension" pot and I am wondering whether to keep it in case there are any advantages of scale with them, or whether they link with schemes like the new DB Pension Superhaven in the future - assuming it gets approved by the regulators and turns out to be good and reliable.

My main DC pot is with Nest at 0.3% charge but I don't add to that as the contribution charge is 1.8% and I want to invest in other things anyway.

Otherwise, I'm pretty unimpressed with People's Partnership and feel reluctant to add any more money as then the total charge will jump to something like 5% before falling to 1.5% at £450 and then continuing to fall if the pot gets bigger, but as dunstonh has said it's all too slow compared to the competition.  My cheapest all-in charge, although I don't pay it, would be 0.23% with one of Aegon's Workplace ARC SIPP default funds.

dunstonh

I have a micro People's "Pension" pot and I am wondering whether to keep it in case there are any advantages of scale with them, or whether they link with schemes like the new DB Pension Superhaven in the future - assuming it gets approved by the regulators and turns out to be good and reliable.

There is no intention of bringing private sectors into the public sector.  (even if this is the most left wing Government for generations) 

engagedandopen

Thanks for your perspective, dunstonh.  Henry Tapper seems to think the Pension Superhaven DB scheme is a pretty well ideal solution for under 75s with DC pots to convert to it, and that Nest seems open to linking to it as an option for retirees, but then he's part of it so he's bound to be effusive about it.