Investing with my new SIPP advice

denow

Bit of a clueless post here. I had a pension with Aviva that I have just transferred to a SIPP. There's £38,000 sitting in cash and I need to invest it. I don't know what, where and to a lesser extent, how. Can someone give me some pointers? I'm planning to add more over the next 10 years.

Marcon

denow said:

Bit of a clueless post here. I had a pension with Aviva that I have just transferred to a SIPP. There's £38,000 sitting in cash and I need to invest it. I don't know what, where and to a lesser extent, how. Can someone give me some pointers? I'm planning to add more over the next 10 years.

What's your attitude to risk?

denow

Probably medium to high

HappyHarry

Why did you move the pension from Aviva? Was there a plan when you did so?

denow

HappyHarry said:

Why did you move the pension from Aviva? Was there a plan when you did so?

I turned 55 a couple of weeks ago and it was a pension I'd neglected for years. It was a Friends Provident pension which changed to Aviva years ago. I had to make a decision so moved it to the Aviva SIPP.

I'm going to hopefully be forfeiting company dividends going forward and piling it into the SIPP providing the current rules on that don't change soon.

Cobbler_tone

denow said:

Probably medium to high

We had an (internal) presenter to site who overshared their pension choice. They said they had an IFA and showed that their pension was in 100% World Equities. It had grown 35%, which would have presumably been since 2021 when our new pension opened. They had been advised by their IFA to leave it there. I gave feedback as although it was made extremely clear that the intention was to raise awareness around pensions (which was actually really good and useful), sharing it caused some unintended influence to the attendees, half of which didn't know the difference between their DB and DC.
I have no idea of the (important) context of their overall plan, whether they have multiple pensions etc, when they planned to retire, nor how 'good' their IFA is....which is a recurring theme on there. I think it must be like trying to find a good mechanic.

Anyway, click on the fund choices and it will usually show you past performance and associated risk. There is never a perfect answer.   

Aylesbury_Duck

I have an Aviva pension that's an old FP pension and have just done some rebalancing because it was nearly all in equities, has done very well and I may begin accessing it in five years' time.  It also has a with-profits element and at some point I may move it to an Aviva SIPP to save on the fees, but need to get information on any MVR before doing so.

I shifted from two funds that were risk level 5 ans 6 to three funds that are risk level 4, 4 and 5.

SVaz

I would say,  just do some research on different fund classes.

What are your plans at retirement?  Annuity? Drawdown?   It makes a difference. 

If you want simple then a low fee Global index tracker,  obviously at the higher end of risk.  Good for long term, 10 years+. 

There are also mixed asset funds,  containing varying percentages of equities, bonds and things like property.  Higher equities = probable higher risk. 

Aviva may do their own version or there is the HSBC Global Strategy range or Vanguard lifestrategy /  Blackrock consensus / Fidelity multi asset.  

OliverLacon

My wife is in an almost identical situation. She has an Aviva pension that was originally Friends Provident. There is a transfer value of £22000. She is 65, not working and will get State pension in July 2027. Currently she is considering moving it to a SIPP and accessing the pension as several lump sums over this and  next two tax years (this is to take advantage of her unused annual income tax allowance). The current Aviva pension does not allow this type of draw down so it needs to be moved. She has an AJ Bell SIPP so probably it will go to that  although it might be worth looking at the Aviva SIPP that the OP mentioned - particularly if fees are less.

Albermarle

denow said:

Bit of a clueless post here. I had a pension with Aviva that I have just transferred to a SIPP. There's £38,000 sitting in cash and I need to invest it. I don't know what, where and to a lesser extent, how. Can someone give me some pointers? I'm planning to add more over the next 10 years.

As good an idea as any is to spend some time reading through this and the 'Saving and Investments' forum .
You will find links in some threads to useful YouTube presenters and other useful info. 

dunstonh

denow said:

Bit of a clueless post here. I had a pension with Aviva that I have just transferred to a SIPP. There's £38,000 sitting in cash and I need to invest it. I don't know what, where and to a lesser extent, how. Can someone give me some pointers? I'm planning to add more over the next 10 years.

A SIPP will have around 30,000+ investments available to it.  We could do with more information to help you narrow it down.

Normally, you decide where you want to invest first, then choose a provider.   For example, if you want ETFs, the best SIPP providers will be different to those if you wish to use OEICs/Unit Trusts.