Short Term Money Market Fund or Cash ISA

jj65

I’m looking to de risk and set aside enough money to fund 2 to 3 years of spending to bridge until I can take my final salary pension in 5 years time enabling me to retire in 2 years time. Would I be better to use Short Term Money Market Funds or to transfer money out of S&S ISAs to a fixed Cash ISA?

Also does anyone know if there is a short term money market fund that I could move money into from my Aviva Workplace pension as I’ve had a look through their funds and couldn’t find anything?

Thanks,

John

dunstonh

Also does anyone know if there is a short term money market fund that I could move money into from my Aviva Workplace pension as I’ve had a look through their funds and couldn’t find anything?

Aviva has multiple workplace pension versions (CIMPs, GPPPs, GSHPs, AE, etc).    The fund range varies with the versions.  Aviva usually use "deposit" in the fund name for their money market funds.

MeteredOut

As per dunstonh's post, here's what my Aviva workplace pension (TK prefix) offers

https://www.fundslibrary.co.uk/fundslibrary.dataretrieval/documents.aspx/?user=5fEccTCVjpLZK4T6IdaPrP4bZQgUZZ4kniujIgiDqSs=&type=packet_lp_fund_unit_doc_factsheet&sedol=0967257&r=1

In the Aviva Fund Library, its called Aviva Pension Deposit S6

scoobyjones1

low risk, yes. Cash ISAs can pay about 4.5% at the moment but, unless you fix, that rate could go down soon with BOE rates.
https://www.moneysavingexpert.com/savings/best-cash-isa/

Stock markets are close to record highs, may go up a bit towards the end of year...but there will be a pullback coming. If you wish to lower risk, move into cash and then buy the dip in shares if and when that comes. Or maybe do half cash and half shares...or an S&P fund?