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Pensions
Pensions

Here, we talk about pensions. Ask questions about how to invest in a pension, types of pensions, SIPPs and anything else. Feel free to talk about anything pension related.

Hi, to track down all your pensions, you need to contact your pension providers, the government’s Pension Tracing Service2 or your former employer if it was a workplace pension.

If you’re contacting your former employers, the Money Advice Service has created a template letter you can send to your former employers. The key details you’ll need to provide to your employers include:

  • Your National Insurance number
  • The date you stopped working there
  • The date you started work with the employer
  • The dates you joined and left the pension scheme

This link to the Money Advice Service website has all the... (More)

Answer
Pensions

There are two things I'd consider:

  1. Fees: If the new provider can beat or match the 0.12% fee, I'd move the pension to the new provider. If the new provider can't, then I'd have to think about logistics.
  2. Logistics: If you don't move it to the new provider, you'll have to manage two pension accounts and possibly more if you keep changing jobs. Is that something you can handle? Or are you the kind of person who'd forget about the old pension account?

I'm not sure if any of these open banking fintech companies aggregate pension accounts the way they... (More)

Using Vanguard Investor (my personal choice of platform) - SIPP’s are the same cost as ISA‘s.

Both have platform fees of 0.15% up to 250k and can invest in the same funds in both e.g VUSA which is 0.07%.

Total fees of 0.22% which is very low! 

Both have their place and it depends on what you want the lifetime ISA for and your time horizon.

e.g. if you’re using it on a first home in the next few years - cash is probably the better choice as a S&S ISA risks being down when you need the money for a deposit. 

if this is just for retirement and you’re using the LISA to get the government bonus - a stocks and shares Lisa is better as it will on average return more over the long term and protects against inflation 

Thanks,

Luke