£20k in a fairly inactive pension - what's a better option?
Discussion
Hi all
I have a pension I'm paying into but also a second, far smaller one from a company I left 15 years ago, managed by Aviva.
It tickles up and down, fluctuating between £18k and £20k but I wonder what else I can do with it. Is it worth an index fund?
I plan on using between 10 to 15 years, possibly longer.
I have a pension I'm paying into but also a second, far smaller one from a company I left 15 years ago, managed by Aviva.
It tickles up and down, fluctuating between £18k and £20k but I wonder what else I can do with it. Is it worth an index fund?
I plan on using between 10 to 15 years, possibly longer.
guess it depends on how valuable/important that 2nd /old pension will be in your future retirement plans.
If the current pension will get you to pretty much where you'd hope to be, maybe switch the old one to a sipp and dump the money into a 5-6 decent high growth assets directly mnaged by yourself.
there's an exponential age starting; AI, robots, energy etc, and IMO, trad pension funds are perhaps not as clued up at the outset of such changes....
we'll see in 5 years whether these sort of things play out, but the likes of tesla, nvda, 'bots, genomics etc should/could have massive gains so far beyond the normal 7-10% annual shares price increases.
(before i get flamed, i don't mean 'oh tesla the car company[, i mean tesla the energy, robotics, ai company which happens to make cars).
If the current pension will get you to pretty much where you'd hope to be, maybe switch the old one to a sipp and dump the money into a 5-6 decent high growth assets directly mnaged by yourself.
there's an exponential age starting; AI, robots, energy etc, and IMO, trad pension funds are perhaps not as clued up at the outset of such changes....
we'll see in 5 years whether these sort of things play out, but the likes of tesla, nvda, 'bots, genomics etc should/could have massive gains so far beyond the normal 7-10% annual shares price increases.
(before i get flamed, i don't mean 'oh tesla the car company[, i mean tesla the energy, robotics, ai company which happens to make cars).
greengreenwood7 said:
guess it depends on how valuable/important that 2nd /old pension will be in your future retirement plans.
If the current pension will get you to pretty much where you'd hope to be, maybe switch the old one to a sipp and dump the money into a 5-6 decent high growth assets directly mnaged by yourself.
there's an exponential age starting; AI, robots, energy etc, and IMO, trad pension funds are perhaps not as clued up at the outset of such changes....
we'll see in 5 years whether these sort of things play out, but the likes of tesla, nvda, 'bots, genomics etc should/could have massive gains so far beyond the normal 7-10% annual shares price increases.
(before i get flamed, i don't mean 'oh tesla the car company[, i mean tesla the energy, robotics, ai company which happens to make cars).
Thanks. Its just a bit of a bonus pot really so happy to have a bit of a flutter. If the current pension will get you to pretty much where you'd hope to be, maybe switch the old one to a sipp and dump the money into a 5-6 decent high growth assets directly mnaged by yourself.
there's an exponential age starting; AI, robots, energy etc, and IMO, trad pension funds are perhaps not as clued up at the outset of such changes....
we'll see in 5 years whether these sort of things play out, but the likes of tesla, nvda, 'bots, genomics etc should/could have massive gains so far beyond the normal 7-10% annual shares price increases.
(before i get flamed, i don't mean 'oh tesla the car company[, i mean tesla the energy, robotics, ai company which happens to make cars).
Will have a ponder.
heisthegaffer said:
Hi all
I have a pension I'm paying into but also a second, far smaller one from a company I left 15 years ago, managed by Aviva.
It tickles up and down, fluctuating between £18k and £20k but I wonder what else I can do with it. Is it worth an index fund?
I plan on using between 10 to 15 years, possibly longer.
Pensions are just a wrapper. I have a pension I'm paying into but also a second, far smaller one from a company I left 15 years ago, managed by Aviva.
It tickles up and down, fluctuating between £18k and £20k but I wonder what else I can do with it. Is it worth an index fund?
I plan on using between 10 to 15 years, possibly longer.
Absent specialised considerations like the small pots rule, it comes down to:
- what are the fees?
- what are the investment choices available within a particular pension wrapper and are you happy with them?
- are you willing to handle the small amount of admin that comes with having multiple pots
For what it’s worth, I’ve had a pot with Aviva and the fees and investment choices have been very competitive. But different employer schemes, even with the same provider, may differ depending on what your employer was able to negotiate.
If you’re happy with it, nothing wrong with just letting it sit and grow.
Going with more risky funds etc with the smaller pot doesn’t make sense unless part of a broader conversation about asset allocation
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