Pension planning

Well this is interesting! 6 months ago I asked an IFA to perform a SERPS/S2P review for me to try to determine whether it was worth staying contracted out or whether I should contract back in. I’d forgotton all about it when a huge great envelope arrived the other day full of pension stuff, including a 12 page review they had done on my current pension. It was very comprehensive and the upshot of it was they were recommending I transfer my existing Barclays Life pension to Scottish Equitable.

The sceptic in me says they just want to earn a juicy commission by getting me to switch, but I’ve done a bit of searching and stumbled across an article at  ( that lists some of the big name funds that are underperforming, and would you believe it, Barclays Life are one of them!

This article lists both Barclays Managed and Equity funds as underperformers and my pension is split between both of these. I also note there are no Scottish Equitable funds listed. So maybe there is something in this after all. The IFA reckons I can get better performance simply because SE’s charges are lower and there’s a greater choice of funds.

So something to think about. I just need to work out the IFA’s commission charges to see if they are reasonable before I decide to switch. I’ve got quite a large fund now so even a small percentage can add up to thousands of pounds.

This entry was posted in Finance. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s