Transferring Work Pension to SIPP
I have around £80K in my current work pension, its invested in their global index fund which tracks the FTSE global index and this fund costs 0.3% a year. In my SIPP with Interactive Investor (II) I invest in the Fidelity World P fund which cost 0.12%.
I have the option to sell (they don't do in species transfers) my holdings in my work pension and transfer the balance over to II, this would hopefully mean the funds are only out of the market for around 2 weeks, my question is.
Is the risk of being out the market worth the benefits of moving my money into II as they allow me to do the following:
- Invest in my fidelity fund which has much lower OGC, meaning more compounding.
- Buy UK Gilts, I plan to build a gilt ladder when I start getting ready to retire.
- Have all my investment accounts with a single broker for a flat fee of £14.99 a month.
Or should I just keep my money with them until I either retire or leave my current employer. At some point in the future I will need to transfer that pension to II, its a question of now and transfer each year or wait till the pension turns into a SIPP instead of a work pension.