Pension Pot Consolidation / Platform advice
Discussion
Advice sought re consolidating multiple pensions
Has anyone got any personal experience and advice with regard to
(a) consolidating different pension pots
(b) choosing a platform from which to invest in the investable universe
(c) pension fund managers that are accessible with a personal touch
I want to have things in a central location and I want to be able to view a "dashboard" online of how things are performing.
At this stage I'm not sure if I will appoint a manager or invest in diversified funds myself eg through a SIPP
I'm 41 and, like some others I suspect, have to concede I have adopted an ostrich approach to this subject for way too long. I have, like I suspect a lot of folk these days, a clutch (3 in my case) of corporate schemes that each had AVCs (additional voluntary contributions) back when I worked for each respective company but of course they have been in stasis on that front since I left those firms
Many thanks
Has anyone got any personal experience and advice with regard to
(a) consolidating different pension pots
(b) choosing a platform from which to invest in the investable universe
(c) pension fund managers that are accessible with a personal touch
I want to have things in a central location and I want to be able to view a "dashboard" online of how things are performing.
At this stage I'm not sure if I will appoint a manager or invest in diversified funds myself eg through a SIPP
I'm 41 and, like some others I suspect, have to concede I have adopted an ostrich approach to this subject for way too long. I have, like I suspect a lot of folk these days, a clutch (3 in my case) of corporate schemes that each had AVCs (additional voluntary contributions) back when I worked for each respective company but of course they have been in stasis on that front since I left those firms
Many thanks
Speak to the advisors of the current scheme you are in - I was able to consolidate all mine following a review, to the best performing/lower running costs.
It's now in a portfolio that allows me to check/manage any changes.
The costs for the review/advice was borne by the commission the advisor had for bringing the other Pension pots to this Portfolio (which I already had as one of my pensions)
Also worth getting it checked that they will allow you to port over protected rights funds as you're a similar age to myself and no doubt will have also been contracted out of SP2 at one point or another
Benefits of consolidation are for sure easy to monitor and far less statements and projections posted out to you with numerous login details and portals to use!
It's now in a portfolio that allows me to check/manage any changes.
The costs for the review/advice was borne by the commission the advisor had for bringing the other Pension pots to this Portfolio (which I already had as one of my pensions)
Also worth getting it checked that they will allow you to port over protected rights funds as you're a similar age to myself and no doubt will have also been contracted out of SP2 at one point or another
Benefits of consolidation are for sure easy to monitor and far less statements and projections posted out to you with numerous login details and portals to use!
GarethA said:
Thanks v much
Can you explain contracted out of SP2 ?!
They explain it better and quicker than I could type it all out here Can you explain contracted out of SP2 ?!
http://www.which.co.uk/money/pensions-and-retireme...
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