Greetings all, had a question on whether my workplace pension transfer to sipp strategy makes sense or if there's a better way.
I currently have a workplace pension that has an all in charge of 0.24% plus profit share is added. I always keep this plan open and active to qualify for my company match and to make AVC's and every 6 months I transfer the money into my fidelity sipp into similar funds IE vanguard global tracker fund.
The fidelity sipp as I opened it in 2021 at the right time has a protected pension age of 55 not something I want to lose. As I invest in a vanguard ETF the fidelity platform charges are capped to 90 pound per year. With a X2 £7.50 commission charge I pay every 6 months.
My question was should I continue making the 6 months transfer or just leave it in the workplace and transfer in the future?
Also one further question noticing market is currently down obviously it may still recover and typically schedule my next partial transfer at the end of August. If market is down during transfer am I worse off even if it's going into comparable funds/assets IE global fund? Realise there's a time out of the market usually 2 3 working days and i tend to nudge them and monitor it to speed this up.
If you require further info please let me know. Thanks in advance for all your help.
I currently have a workplace pension that has an all in charge of 0.24% plus profit share is added. I always keep this plan open and active to qualify for my company match and to make AVC's and every 6 months I transfer the money into my fidelity sipp into similar funds IE vanguard global tracker fund.
The fidelity sipp as I opened it in 2021 at the right time has a protected pension age of 55 not something I want to lose. As I invest in a vanguard ETF the fidelity platform charges are capped to 90 pound per year. With a X2 £7.50 commission charge I pay every 6 months.
My question was should I continue making the 6 months transfer or just leave it in the workplace and transfer in the future?
Also one further question noticing market is currently down obviously it may still recover and typically schedule my next partial transfer at the end of August. If market is down during transfer am I worse off even if it's going into comparable funds/assets IE global fund? Realise there's a time out of the market usually 2 3 working days and i tend to nudge them and monitor it to speed this up.
If you require further info please let me know. Thanks in advance for all your help.
Statistics: Posted by superb376 — Sun Jul 28, 2024 4:54 am — Replies 0 — Views 73