Looking for Similar Fund (Transferring Pension from Old Employer Scheme to SIPP)

MeteredOut

I've got a DC pension with Aviva. It's product type is "Designer Pension @ Aviva" and it was a the pension I built up at a previous employer. I didn't know as much back when i started that pension and I'm now embarrassed to admin its always been invested in the relatively safe default fund. Here's the details including current asset allocation:



Its performance over the time I've invested has been ok, but nothing sterling.

I've been thinking for a while that I need to move it elsewhere - the charges are around 0.29% platform fee and 0.06% fund fee. For the size of fund I have built up, the charges are quite a lot. There's also a 0.3% transaction fee for any new payments, but I'm not currently adding to this pension.

I've just been looking into the CMC transfer offer and with 12 months free, and then just £25/month, it will be significantly cheaper, even before the transfer bonus, if I move this pension there.

However, that Aviva fund is obviously not on the CMC platform, so I can't do an in-specie transfer, but I'm looking for is something with a similar risk and asset allocation. I've had a look on the CMC app (I already have an ISA with them) but nothing jumped out as similar.

I have another pension (with current employer) that is more heavily invested in the US, and I feel now isn't the time to be drastically changing my approach for this pension.

Any pointers of what to be looking at as an alternative within CMC?

Albermarle

It looks a bit like Vanguard LifeStrategy 60 ?

ColdIron

The existing fund looks like a typical, everyman, balanced, multi-asset 60/40 offering. The fees don't look unreasonable to me

CMC don't seem to show their range of what they call 'mutual funds' to non clients but you might look at their multi-asset offerings

NB Costs aren't everything, what you invest in is much more important

MeteredOut

Albermarle said:

It looks a bit like Vanguard LifeStrategy 60 ?

According to the CMC breakdown, it’s 50% US, which is quite a bit up from the current 30%. Definitely an option though.

MeteredOut

ColdIron said:

The existing fund looks like a typical, everyman, balanced, multi-asset 60/40 offering. The fees don't look unreasonable to me

CMC don't seem to show their range of what they call 'mutual funds' to non clients but you might look at their multi-asset offerings

NB Costs aren't everything, what you invest in is much more important

It’s the platform fee that irks me. Completely agree it’s not just about costs, but if I can get a similar mix elsewhere, why not. I think you need the CMC app to see the fund options, but don’t have to open a SIPP to do that.