Pension in Scottish Widows
Discussion
I have my pension in Scottish Widows Consensus fund. I am looking to move it to something more adventurous. I moved out to the Middle East and this pension is from my former employer. I'm 32. Is it worth keeping this going, i haven't funded it for a few months now since moving.
Which fund do you recommend? Is it worth transferring it.
Which fund do you recommend? Is it worth transferring it.
The default setting should always be to do nothing. Unless there's a plausible case for switching, and by plausible, I don't mean a contrived case to justify a fee.
Firstly, why don't you like SW? I can think of lots of reasons why I don't like them, but that's not the issue here. If you're unhappy with investment performance, then ask if the manager is doing badly, or if his asset allocation etc, is fine, but more gererally, everyone else similar is also doing badly.
If it's doing ok, but if it's (as you imply) not spicy enough for you, what about a fund/funds within SW that have the risk turned up a little? Investment returns are dire, generally, at the moment. You have thirty years or so, so you can ride it out.
Who would I suggest? That depends what you want. Somewhere to fire and forget at your age.. Aviva maybe, Aegon etc are worth looking at. If you're slightly older, and want functionality at a very keen price, Royal London is superb (imho). If you fancy dabbling, look for a SIPP. But before you get to that situation, look at intervention/change in your existing pot that's lower impact.
Firstly, why don't you like SW? I can think of lots of reasons why I don't like them, but that's not the issue here. If you're unhappy with investment performance, then ask if the manager is doing badly, or if his asset allocation etc, is fine, but more gererally, everyone else similar is also doing badly.
If it's doing ok, but if it's (as you imply) not spicy enough for you, what about a fund/funds within SW that have the risk turned up a little? Investment returns are dire, generally, at the moment. You have thirty years or so, so you can ride it out.
Who would I suggest? That depends what you want. Somewhere to fire and forget at your age.. Aviva maybe, Aegon etc are worth looking at. If you're slightly older, and want functionality at a very keen price, Royal London is superb (imho). If you fancy dabbling, look for a SIPP. But before you get to that situation, look at intervention/change in your existing pot that's lower impact.
I'm stuck with Scottish Widows, as it is my current employers chosen provider. I have moved some out of the concencus fund, for better performance. However, the Scottish Widows web interface is rubbish, we used to have a better interface, but the company stopped paying for that, so no idea how my funds are doing.
I moved mine from SW to Aegon, they are far more proactive than SW ever were, and so far have seen very acceptable growth over the last 18 months since the switch.
Although I won't be buying an annuity, SW were offering me up to 30% less than other providers, and mentioned nothing about enhanced annuities.
Although I won't be buying an annuity, SW were offering me up to 30% less than other providers, and mentioned nothing about enhanced annuities.
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