Stopping pension payments
Discussion
I've got a pension with Standard Life that I contribute to each month.
What would happen to this if I stopped paying into it and instead invested my monthlies into a SIPP?
The pension I have is -
Managed One Fund
With Profits Fund
Millenium With Profits Fund.
To be honest, I've made more with less investment in 6 months with a JP Morgan Nat. Resources fund than I have in 12 months with the Standard Life, although I know the JPM is more of a risk.
At the moment I'm feeling loathe to letting a lot of my money go to running a pension.
I used to have a FA but haven't seen him for a few years.
If I can easily do the investing myself I rather would, but if anyone knows a very good FA in Nottingham/Leicester area who doesn't take this piss, I'd be appreciative.
Thanks.
What would happen to this if I stopped paying into it and instead invested my monthlies into a SIPP?
The pension I have is -
Managed One Fund
With Profits Fund
Millenium With Profits Fund.
To be honest, I've made more with less investment in 6 months with a JP Morgan Nat. Resources fund than I have in 12 months with the Standard Life, although I know the JPM is more of a risk.
At the moment I'm feeling loathe to letting a lot of my money go to running a pension.
I used to have a FA but haven't seen him for a few years.
If I can easily do the investing myself I rather would, but if anyone knows a very good FA in Nottingham/Leicester area who doesn't take this piss, I'd be appreciative.
Thanks.
You need some expert advice.
Your current pension might have different investment options other than "with profits".
With profits are not expected to perform as well as equities as they are less risky, so your disappointment with their performance is a bit like comparing apples with yoghurt.
You need to assess with your IFA whether your balance between playing the market with some of your portfolio and leaving a retirement fund in a relatively low yield investment pot, is appropriate.
Sorry can't help with an IFA recommendation in your area.
Your current pension might have different investment options other than "with profits".
With profits are not expected to perform as well as equities as they are less risky, so your disappointment with their performance is a bit like comparing apples with yoghurt.
You need to assess with your IFA whether your balance between playing the market with some of your portfolio and leaving a retirement fund in a relatively low yield investment pot, is appropriate.
Sorry can't help with an IFA recommendation in your area.
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