Should I Combine NU and FP Pensions?

TCA

dunstonh wrote: »

However, the two funds you linked are jack of all trades funds. The sort you use when you dont monitor the investments. The lazy investor funds. In which case, does it matter if you have online access or not?

That's right but I placed the links there only to show what I currently have, in the hope that the links along with my general descriptions and new fund examples would give the full picture as to my options. My initial post stated that I was not looking for any specific recommendations for fund selection (as both now offer a wide choice) but I was more interested in whether the choice is comparable and whether anyone had any strong opinions about either company or could point out any downsides in transferring from one to the other or just transferring generally. After transfer I would decide upon switching to more suitable funds.

EdInvestor

Really, pensions should be approached in the reverse direction from the way they usually are now.

First you should check out your risk profile and look at a good fund ratiung website, choosing a selection of the best funds from various categories to invest your money in.

eg https://www.citywire.co.uk/Funds/Home.aspx

Then you should see which is the lowest cost provider to offer a pension wrapper which includes your chosen funds.If you want online access, a SIPP at a discount broker is the most likely solution, eg
https://www.h-l.co.uk

At the moment the system put the tax wrapper (pension) horse in front of the investment cart.

Time this was changed - that's one big reason I'm a fan of SIPPs .

dunstonh

I agree with the approach that Ed suggests. Investment funds first, then provider and type of pension.

However, where I differ is that there are personal pensions that can do the same as a SIPP but cheaper (assuming like for like distribution). Jumping on the SIPP bandwagon because everything in the media says SIPPs are best is not the way to do it. The contract has to meet your needs and if you are going to pay more (as you typically would with a SIPP investing in funds) then make sure you use the features you are paying more for. If you dont then a cheaper personal pension or even a stakeholder may be better.

TCA

I agree completely with the above comments but I guess where people are offered a company pension to which their employer contributes, then that makes up their mind for them irrespective of the investments themselves, which most probably don't look at anyway. Definite cart before horse scenario.

Can I just ask one last question re pension transfers - is there anything lost in the act of transfer itself? i.e. are there any hidden charges or penalties which lower the transfer value or anything else to consider when transferring protected rights?

Thanks.