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All my eggs in one Aviva basket

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  • Xenon
    Xenon Posts: 267 Forumite
    Part of the Furniture 100 Posts Name Dropper
    dunstonh said:
    So my question is should I consider moving some of this fund to HL or another to hedge my risk in terms of something terrible happening to Aviva?
    If you are in an Aviva personal pension or workplace pension then you have more financial security than you do with HL.  So, if that minuscule risk is a concern, to you why would you increase the risk further by moving some to HL?



    Can i ask why that is the case ?
  • DRS1
    DRS1 Posts: 1,242 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Xenon said:
    dunstonh said:
    So my question is should I consider moving some of this fund to HL or another to hedge my risk in terms of something terrible happening to Aviva?
    If you are in an Aviva personal pension or workplace pension then you have more financial security than you do with HL.  So, if that minuscule risk is a concern, to you why would you increase the risk further by moving some to HL?



    Can i ask why that is the case ?
    I think it is because Aviva is an insurance company providing insurance products and HL isn't.
  • gm0
    gm0 Posts: 1,176 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    Many older occupational pension funds as opposed to retail products bought by individual consumers run often initially by life companies doing scheme admin for an employer's pension trustees in bulk sometimes also providing fund management in some cases. 

    It was for a long time the practice if not the legal requirement for such occupational schemes to use "insured" funds.  Generating the 100% FSCS protection referenced upthread.  

    By default buy it yourself SIPP wrappers get FSCS 85k limited. And the funds used are typically also of  uninsured type.  So matching up.

    Dunstonh who works with moving old stuff to new stuff has seen a lot more of all this than I have.  When we last discussed it when I was grappling with proteciton and insured vs uninsured.  And whether it mattered much at all. 

    I recall it being revealed that sometimes there is a mixture of insured and uninsured (available to use) with insured rarer on the SIPP side.  And this can happen on the "old" schemes side in edge cases as well.  Uninsured cropping up now and then

    So nice and simple then.  As pensions often are.
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