Five DC Pension Pots and a SIPP - need a steer

Catapult

Hi, - just need a bit of a steer on this little lot...

The following are my DC workplace pension pots, the funds they are invested in, current value and their ISIN. 'Scottish Widows Pension 2' is my current DC workplace pension and the only one being contributed into by my employer and me. 'HL SIPP' is not currently invested - all cash.

I've just turned 55 and considering combining into fewer pots for ease of management in the future and to perhaps weed-out the poor performers. If these were yours, what would you do - leave alone / combine / any alarm bells in there?

Scottish Widows Pension 1

   Scottish Widows UK All Share Tracker (GB00BMQDMZ57) £7,838.64

   Scottish Widows Indexed Stock CS8 (GB00BMRRZV34) £2,342.92

   Scottish Widows Property CS8 (GB00BMRS3D42) £3,880.51

   SW SSGA Non Gilt Sterling Bond All Stocks Index CS8 (GB00BMRS1H40) £2,086.42

   Scottish Widows UK Fixed Interest Tracker CS8 (GB00BMRRZK29) £2,082.05

   SW SSGA International Equity Index CS8 (GB00BMRS1F26) £7,841.73

Scottish Widows Pension 2

   Scottish Widows Pension Portfolio Three CS9 (GB00B09CD413) £21,877.64

Aviva Pension 1

   Aviva Pensions My Future Focus Growth S6 (GB00B4W9CK61) £7,654.65

Aviva Pension 2

   Aviva Pension Mixed Investment 40-85% Shares S6 (GB00B0ZSNS73) £39,128.97

Aviva Pension 3

   Aviva Pension Schroder Managed EP S3 (GB00B0Z0LP65) £72,984.03

Hargreaves Lansdown SIPP (All Cash) £60,779.44

There are a few bad performers in 'Scottish Widows Pension 1' but don't think I can do a partial transfer-out of that pot.

Any help much appreciated - thanks in advance! :-)

tacpot12

You're right that there are some right dogs in the Scottish Widows Pension 1. You need to move that to the Scottish Widows Pension 2. 

The Aviva funds are all ok, but you might want to move them to you SIPP to allow you to have more control over your investments as you approach retirement. 

Why do you have so much cash in the HL SIPP? This should be invested for your retirement. You are probably going to be retired for another 30 years, based on average life expectancy, so you should have about 60% of your portfolio in equities to give you any hope of staying ahead of inflation.  

DRS1

If this is just about the investments can you not just switch the ones that are underperforming to ones you prefer within the relevant pension scheme?  Of course past performance is no guarantee blah blah
All the investments look like in-house investments so if you transferred to the HL SIPP presumably you would need to cash them in and then decide how to reinvest the proceeds when it has reached the SIPP.  Presumably you would be comfortable with that?
If it is about simplification then by all means do it.  I had a similar number of Aviva policies and when I wanted to do something with them I found myself talking to three different bits of Aviva.  By the time you have had the same conversation for the third time it gets a bit trying!  You can check if that will catch you by seeing if you have the same contact number for all your Aviva policies.
Before you transfer any of the old policies you should check they don't have any guarantees or benefits you would lose by the transfer - eg there are no Guaranteed Annuity Rates or special lump sum protections.

FIREDreamer

DRS1 said:

If this is just about the investments can you not just switch the ones that are underperforming to ones you prefer within the relevant pension scheme?  Of course past performance is no guarantee blah blah
All the investments look like in-house investments so if you transferred to the HL SIPP presumably you would need to cash them in and then decide how to reinvest the proceeds when it has reached the SIPP.  Presumably you would be comfortable with that?
If it is about simplification then by all means do it.  I had a similar number of Aviva policies and when I wanted to do something with them I found myself talking to three different bits of Aviva.  By the time you have had the same conversation for the third time it gets a bit trying!  You can check if that will catch you by seeing if you have the same contact number for all your Aviva policies.
Before you transfer any of the old policies you should check they don't have any guarantees or benefits you would lose by the transfer - eg there are no Guaranteed Annuity Rates or special lump sum protections.

I doubt that these will have guaranteed annuity rates (GAR). These are usually old style with profits pensions and sometimes the newer unitised with profits variety. I have only ever seen one unit linked pensions product with a GAR and it had other strange features that escape me now.

Please check for guaranteed / special lump sum protections though.

Oh, and any non standard early retirement/ access age if these are of any value to you (eg stays at 55 even when legislation mandates 57 from 2028).

Catapult

Thanks for the suggestions folks - SIPP now invested and that under performing Scottish Widows pot is on the move elsewhere :-)