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Pensions funds and MMF
iwblue
Posts: 122 Forumite
Hello all. I'm currently invested in
| Legal & General Multi-Index 5 Fund via Scottish Widows platform. The fund has increased recently more than I can ever remember. I'm not experienced in moving money between different funds, however I'm aware that stocks are high and id like to lock in some of the gains I've made. I was thinking about moving 50% of the LG fund into something less volatile, such as MMF. This would be approx 40K. How do I go about determining a good MMF? Or are there other options I could consider? Many thanks. |
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What options are available to you on the SW platform? I know people on here, myself included, use the Royal London Short Term MMF but I am sure there are others.iwblue said:Hello all. I'm currently invested inLegal & General Multi-Index 5 Fund via Scottish Widows platform. The fund has increased recently more than I can ever remember. I'm not experienced in moving money between different funds, however I'm aware that stocks are high and id like to lock in some of the gains I've made. I was thinking about moving 50% of the LG fund into something less volatile, such as MMF. This would be approx 40K. How do I go about determining a good MMF? Or are there other options I could consider? Many thanks. I have no idea of the risk level of your fund but if you feel it is too high then maybe there is a lower risk option?I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.1 -
All depends on your age and retirement plans. If you've got 10~20 years to retirement it would be foolish to derisk your investment and you set yourself up from missing future gains.Signature on holiday for two weeks1
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I'd be looking to start taking some money out within 3 or 4 years0
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You can not shop around for a MMF when you have a pension on the SW platform, you have to use the one they offer.
With my SW pension there is one, but that does not guarantee that you will have one, so you need to check through the list of funds available.
'd be looking to start taking some money out within 3 or 4 years
However if you are planning to drawdown the pension, this could be over a period of 30 years or more.
So as previously mentioned, best not to overdo the derisking in that case.2
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