Lifesight Pension - any knowledge?

[smiles1]

My employer pension has recently moved over to Lifesight (Willis Towers Watson).

They are unknown to me, does anyone have any experience of their pension service/fees etc?

Thanks

[55palfers]

I have a pot with them from when I worked for Carillion.

I haven't put anything in it this year and it is doing about + 13.6% so far Aug 20 to Aug21

Fees are quite low but that may be a legacy from Carillion

[LeoSayer]

Yes, an old DC pension of mine was transferred to LifeSight last year.

They have around 27 fund choices plus lifecycle strategies.

As an example, I'm invested in Developed Market Equity Unhedged which has am 'Annual Member Fee' of 0.165% which is deducted on a monthly basis. It's an index tracker managed by Legal and General. Seems cheap but to be honest, I'm not confident I fully understand their fee structure.

I find the tools on the website pretty poor. The fund performance page is very basic and as they are LifeSight branded products you can't look at the performance or price anywhere else. There is also an app which is useful for finding on the current value of your holdings and nothing else.

They had a terribly named retirement planning tool called 'Age-o-meter' which seems to have been dropped now.

Due to a link to an old DB scheme I can't really move away from LifeSight so I'm stuck with it.

[55palfers]

LeoSayer said:

They had a terribly named retirement planning tool called 'Age-o-meter' which seems to have been dropped now.

Oh no it hasn't!

[IJWS15]

I had one that was moved to Lifesight, didn't stay there long as we consolidated all the DC schemes (mine and wife's - about 12 between us) in one place and it wasn't them.

Am aware that one of my DB schemes limited you to an annuity at retirement - suggest you check it wasn't lifesight.

[LeoSayer]

55palfers said:

LeoSayer said:

They had a terribly named retirement planning tool called 'Age-o-meter' which seems to have been dropped now.

Oh no it hasn't!

Thanks. I had a play with that last night along with the spending planner.

It's quite useful.

[smiles1]

Thanks all.

I've just tried the Age-o-Meter, seems a good tool.

I need to decide if I stay in their lifecycle strategy or pick from funds. The historic lifecycle strategy performance seems ok over the last few years, but I'm yet to find out what it is invested in......more digging needed.