Pensions - SIPP

nam

nam

nam

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Hi All
Recently transferred my all of my old legacy ex-employer pension and personal pensions from Scottish Widows to H&L SIPP. They were dormant and not doing anything. Now that i have all that cash sitting in the SIPP i am looking at spreading equally between the Vanguard Life strategy funds or similar for accumulation. This would be outside my current employer pension which i don't manage. I am looking at retirement terms in 19 years or sooner . Has anyone made a similar move and can provide some help

Thank you
 
I moved my old pensions to HL a few years ago and had them in various funds, some with quite high charges (Fundsmith anyone... :p ) but it was worth it at the time for the returns.Recently I've been in Lifestrategy and the Vanguard ftse Global anyway on HL so have moved to the Vanguard platform as well.
Might be an option for you if you are going to stay in Vanguard funds, not really much point staying with HL if that is the case.
I would suggest picking a low cost fund, and stick with it, and the main thing, which is quite difficult when there is such easy access, don't look at it too often, because it can be painful...
 
I moved all my old pensions to HL a in 2018 and invested in Vanguard Emerging Markets Stock Index, FTSE Developed World ex-UK Equity Index and FTSE UK All Share Index. I'm sitting at 45.68% growth at the moment - was 52% earlier in the month but this has been a horrible week for the markets.
 
I need to consolidate my old pensions (I have 2) - its it worth sticking those together in one pot like Vanguard, or combining it into my current peoples pension?
 
I just hold these two, choose whatever split suits you, shift towards bonds as you approach retirement.

FIDELITY INDEX WORLD CLASS P - ACCUMULATION (GBP)
- a low cost tracker of the developed world. outperforms entire world.

TROY TROJAN (CLASS X) CLASS X - ACCUMULATION
- bonds and trying to beat inflation. outperforms global bond trackers.

I quite like the idea of using Vanguard and their Target Retirement fund because that platform doesn't offer many funds, which removes any temptation you might have to fiddle with it.
 
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montymint said:
I need to consolidate my old pensions (I have 2) - its it worth sticking those together in one pot like Vanguard, or combining it into my current peoples pension?
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I moved out of the PP myself, because I've stopped work now. I suppose it depends on your attitude to risk, I would guess the PP errs more on the side of caution.
 
montymint said:
I need to consolidate my old pensions (I have 2) - its it worth sticking those together in one pot like Vanguard, or combining it into my current peoples pension?
Click to expand...
First i would check if any have any special features ,i had a small section 32 that gave me 55 percent tax free cash ,then i would compare fees and performance.
Vanguard was really easy to transfer to ,just had to fill in provider pension number ,appx value (if you are out with this it delays things) and online signature ,they are also very very easy to contact by phone ,answer in seconds and very helpful
 
Thank you all. Have spilt equally between FIDELITY INDEX WORLD CLASS P - ACCUMULATION (GBP) and Vanguard Target Retirement Accumulation . I am sure there is still one other legacy pension floating around somewhere which i will also move over to H&L
 
Hi there

I've just opened a Vanguard Pension SIPP account, put £500 which works out at £625 with tax relief into the Target Retirement 2040 Fund - Accumulation.

I am going to probably leave my NEST pension alone, it grew by 16% last year.
But I intend to transfer my larger private pension into Vanguard as they are charging 0.75% plus admin fee and it only grew by 14%, happy with growth though but I just really hate the software, portal and login, Vanguard is so much better, even Nest is better than who I am currently with.

When I do this transfer which is quite a large amount of money, will the cash then just sit in Vanguard waiting to be invested in the different options or will it automatically be invested, anyone transferred a pension to Vanguard before? Any advice and also whats good to invest in. Plan to retire at 57-60.
 
Gibbo said:
Hi there

I've just opened a Vanguard Pension SIPP account, put £500 which works out at £625 with tax relief into the Target Retirement 2040 Fund - Accumulation.

I am going to probably leave my NEST pension alone, it grew by 16% last year.
But I intend to transfer my larger private pension into Vanguard as they are charging 0.75% plus admin fee and it only grew by 14%, happy with growth though but I just really hate the software, portal and login, Vanguard is so much better, even Nest is better than who I am currently with.

When I do this transfer which is quite a large amount of money, will the cash then just sit in Vanguard waiting to be invested in the different options or will it automatically be invested, anyone transferred a pension to Vanguard before? Any advice and also whats good to invest in. Plan to retire at 57-60.
Click to expand...

for me with H&L it sits in the Sipp portfolio until you decide to invest in your chosen funds. I wish I had done it many years ago, but happy to have had good advice from here and also found all my legacy pensions now and transferred into one manageable area.
 
Gibbo said:
Hi there

I've just opened a Vanguard Pension SIPP account, put £500 which works out at £625 with tax relief into the Target Retirement 2040 Fund - Accumulation.

I am going to probably leave my NEST pension alone, it grew by 16% last year.
But I intend to transfer my larger private pension into Vanguard as they are charging 0.75% plus admin fee and it only grew by 14%, happy with growth though but I just really hate the software, portal and login, Vanguard is so much better, even Nest is better than who I am currently with.

When I do this transfer which is quite a large amount of money, will the cash then just sit in Vanguard waiting to be invested in the different options or will it automatically be invested, anyone transferred a pension to Vanguard before? Any advice and also whats good to invest in. Plan to retire at 57-60.
Click to expand...

Just as a point, but in another thread you mentioned wanting a decent app. Vanguard don't have an app in the UK, only the US.

As for what happens, it depends on what funds you're currently in. If they're Vanguard funds then they'll come over as is (i think), however if they're others it'll come over as cash. I'm sure when i was transferring my mother in laws investments over though it asked me whether i wanted it to sit as cash or give me options of how to invest the cash.
 
When I transferred to vanguard I basically filled in a transfer form on the website (online signature),at the time I chose a LS/40/60 equity/bonds (that I no longer have)
So you then have a pending transfer ,but there is a cancel transaction button that cancels the fund from being bought from vanguard and the old pension hits as cash
Btw the phone advise is spot on ,they answer very quickly
 
Gibbo said:
Hi there

I've just opened a Vanguard Pension SIPP account, put £500 which works out at £625 with tax relief into the Target Retirement 2040 Fund - Accumulation.

I am going to probably leave my NEST pension alone, it grew by 16% last year.
But I intend to transfer my larger private pension into Vanguard as they are charging 0.75% plus admin fee and it only grew by 14%, happy with growth though but I just really hate the software, portal and login, Vanguard is so much better, even Nest is better than who I am currently with.

When I do this transfer which is quite a large amount of money, will the cash then just sit in Vanguard waiting to be invested in the different options or will it automatically be invested, anyone transferred a pension to Vanguard before? Any advice and also whats good to invest in. Plan to retire at 57-60.
Click to expand...
When I transferred mine to Vanguard it went straight into a Target Retirement Fund. I think it just depends how you transfer it, into a fund or into your portfolio.

The lack of app is annoying but the dashboard on the website is pretty mobile friendly, and if you're going with a Target Retirement fund is obvious your not one for messing about so won't need constant easy access.
 
If you are not already in a Vanguard fund it will be sold and transferred as cash, but you will have had the option of picking a fund on transfer so it will be invested into that fund once the cash hits.
 
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