Need Help Binning SJP Pension before its too late
Hello All,
Seeking advice on the well-known and spoke about UKPersonalFinance SJP - Long story short a few years ago when I started going self-employed I enrolled into a SJP pension - this has proven to be a mistake as I am sure you are all aware of.
My current pension pot value there is 115k, been paying in 2k a month since approx May 2022 - I plan to bin this now.
I have a few questions, ideally based on my research I want to move to Vanguard, with a 100% Global All Cap but just want to make sure that is the right decision and get the thoughts of others - open to other recommendations on this, saw a few other posts mention Interactive Investor, but Vanguard popped out at me as I already have a ISA there (approx 50k) which has performed well imo.
Another question and one I can't seem to decide on, if I transfer my SJP pension to Vanguard tomorrow it will be a 6% early withdrawl penalty, approx 6.9k which seems excessive, but it is SJP after all and nothing surprises me.
Would I be better to just leave that money in SJP for another 6 years then transfer it for 0% then or just take the hit now?
