Pension fund performance - do you monitor yours, how is it doing, do you actively change it?

my brother-in-law has just been made redundant after 40 years of service at a company...

I don't think he's anymore than the bare minimal package, but he does have nearly 40 years of pension spilt into two fund pots, one DB and one DC which doesn't effect his claim to benefits as he's not at the age where he can start to withdraw it yet. Which is one bonus of having your investments in your pension pot rather than an ISA.
 
bainbridge said:
Quite a grim picture looking at those reviews :(

I'll speak to them next week to find out if I can get this reduced.

Part of me is considering staying with them and moving the fund to 100% equities, then transferring out when I'm 55 because apparently the transfer fee is now capped at 1% for ages 55 or over.

Having said that, their AMF is the highest of all my pots, so really I want to move away from Lifesight asap.
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I moved my lifesight into all equities some years ago and have seen 23% increase in value in the last 12 months. Wish i'd did it when I was much younger but hey, live and learn.

Now in the process of moving 4 pensions into an interactive investor SIPP. From there i'm going into the Amundi MSCI World V ETF Acc GBP
 
slinxy said:
my brother-in-law has just been made redundant after 40 years of service at a company...

I don't think he's anymore than the bare minimal package, but he does have nearly 40 years of pension spilt into two fund pots, one DB and one DC which doesn't effect his claim to benefits as he's not at the age where he can start to withdraw it yet. Which is one bonus of having your investments in your pension pot rather than an ISA.
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I thought (but never looked it up) that DC pensions were redeemable from 55 on ?
 
On the weekend I changed the fund on my current Aviva workplace pension from their standard diversified growth fund to 100% equities: 95% BlackRock world index tracker excluding UK, and 5% BlackRock UK index tracker.

My company pays in 15% even if I pay nothing. I have been paying in myself too, but might put this money into my stocks and shares ISA instead.
 
200sols said:
Its 57 now but some can still access at 55 if they have a protected pension age.
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of course, I forgot about that, but the prior poster said his brother, who was made unemployed after 40 years, had both a DB and DC pensions but that did not affect benefits as it was not possible to draw down from them.

The sums would suggest he is old enough to draw the DC pension, which means it will affect possible benefits.
 
slinxy said:
He started when he was 16, worked his way up to logistics warehouse manager type role.. don’t think he’s 57 yet.
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As per the prior poster, the 57 year limit only comes in from April 28. Going my the numbers your brother must be 55+ which means his DC pension can be drawn upon ?
 
Aye, Nest/PP are really awful providers. Just the provider of choice for a lot of companies because they cost the employer nothing or very little.

If you are unlucky to have your workplace pension stuck in Nest - and obviously I am not a financial advisor and this is not financial advise - its worth looking at putting your pension into the Nest Sharia fund, as its performed consistently better than any of the rest, and their default pot that they stick you in is frankly quite awful.
 
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platypus said:
Aye, Nest/PP are really awful providers. Just the provider of choice for a lot of companies because they cost the employer nothing or very little.

If you are unlucky to have your workplace pension stuck in Nest - and obviously I am not a financial advisor and this is not financial advise - its worth looking at putting your pension into the Nest Sharia fund, as its performed consistently better than any of the rest, and their default pot that they stick you in is frankly quite awful.
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I was in the higher risk fund for ages before swapping to the Sharia fund as I didn't actually look into what each one was. I've definitely seen more gains since switching although I still wish I could just dump it all out into my SIPP.
 
platypus said:
Aye, Nest/PP are really awful providers. Just the provider of choice for a lot of companies because they cost the employer nothing or very little.

If you are unlucky to have your workplace pension stuck in Nest - and obviously I am not a financial advisor and this is not financial advise - its worth looking at putting your pension into the Nest Sharia fund, as its performed consistently better than any of the rest, and their default pot that they stick you in is frankly quite awful.
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Been in it for a while, however they changed the fund recently to make it less risky, i.e. it will have lower returns. Been discussed on the thread before.
 
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