Pension fund performance - Is this good/bad/avg?

NeilF · 2 May 2023 at 12:27

I'm looking to potentially move my pension from Standard Life to another company via a financial advisor etc.

However, I'd like to know roughly how well my existing pair of funds are doing at Standard Life, and if their (%age) growth over the past 10yrs has been poor, good, or average etc?

Anyone able to comment on this? Thanks...

80+% of my pension is in the 'blue fund', with the rest being in the 'red fund'.

Bluecube · 2 May 2023 at 12:54

Really need to tell us what funds you’re invested in. With SL pensions there’s a wide variety and which ones you’re invested in will determine whether the performance is good or not.

NeilF · 2 May 2023 at 12:55

It's also at a charge of about 1.89% a year too, which seems high on investigation.

Uther · 2 May 2023 at 13:15

1.89% is brutal. For comparison my SIPP in Vanguard has a platform charge of 0.15% capped at £375 a year, and my fund is currently 0.22%

NeilF · 2 May 2023 at 13:24

^ Agreed! Time to change!

booyaka · 10 May 2023 at 22:33

NeilF said:
^ Agreed! Time to change!

Hardly. Take your time to understand all your options first.

Whilst it does sound expensive - and even to the point that it's incorrect information, you need to find out what funds you are in, what the cost of those funds are etc. Also what is the cost of the contract?

Your graph really means nothing - What's the benchmark you are comparing the growth against?? What is your attitude to risk? What are the funds your invested in??

Also - with a pension transfer you'll have fees to pay to the financial advisor which will come out of the pot (around 3% I would guess at)

There is NO guarantees with moving the pension that the performance will be better than the existing one.

If your paying for advice - get the advice -

Why should you move?
What benefits is there to moving?
What are the costs between the old/new contracts
What are the funds being recommended? What's wrong with staying with Standard Life and changing the funds there?

Lots of things to consider before just moving it without understanding why your moving it.