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  • FIRST POST
    • susieb
    • By susieb 13th Jul 17, 10:02 AM
    • 1,483Posts
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    susieb
    Pension for a student
    • #1
    • 13th Jul 17, 10:02 AM
    Pension for a student 13th Jul 17 at 10:02 AM
    Student has a small excess each month and I'm thinking of getting her to start to pay into a pension. On the basis that soonest you start the less you need to save later.
    Stakeholder or sipp best?
    Can anyone recommend a low fee easy to set up and manage pension please.
    I do have an IFA but not sure the amount invested, perhaps £50 a month max would make it worth it for the fees,
    Have looked into isas etc but for many reasons, these arent what we want to do.
    Always on the hunt for a bargain
Page 1
    • PeacefulWaters
    • By PeacefulWaters 13th Jul 17, 3:10 PM
    • 7,182 Posts
    • 8,842 Thanks
    PeacefulWaters
    • #2
    • 13th Jul 17, 3:10 PM
    • #2
    • 13th Jul 17, 3:10 PM
    Have a look at Cavendish Online as a DIY option.

    But isn't house deposit a bigger priority?
    • atush
    • By atush 13th Jul 17, 3:16 PM
    • 16,334 Posts
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    atush
    • #3
    • 13th Jul 17, 3:16 PM
    • #3
    • 13th Jul 17, 3:16 PM
    I agree, while she can save into a pension, other savings should come first if she isnt earning yet 9or at least done in tandem).

    Emergency fund first, long term savings for before pension (incl house deposit) etc.
    • susieb
    • By susieb 18th Jul 17, 2:34 PM
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    susieb
    • #4
    • 18th Jul 17, 2:34 PM
    • #4
    • 18th Jul 17, 2:34 PM
    Thanks for the replies.
    She does have some savings and has opened a LISA with a small amount of cash as shes not keen on home ownership as intends to move about with work once employed, but opening a lisa makes sense incase.
    Looked at cavendish online but needs £200 a month invested and shes really only looking at £50. Is that too small an amount for anywhere to be interested?
    Always on the hunt for a bargain
    • xylophone
    • By xylophone 18th Jul 17, 4:27 PM
    • 23,465 Posts
    • 13,643 Thanks
    xylophone
    • #5
    • 18th Jul 17, 4:27 PM
    • #5
    • 18th Jul 17, 4:27 PM
    Looked at cavendish online but needs £200 a month invested and shes really only looking at £50. Is that too small an amount for anywhere to be interested?
    A simple stakeholder would not be subject to this requirement.

    https://www.cavendishonline.co.uk/pensions/stakeholder-and-personal-pensions/aviva/
    • kidmugsy
    • By kidmugsy 19th Jul 17, 12:20 AM
    • 9,851 Posts
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    kidmugsy
    • #6
    • 19th Jul 17, 12:20 AM
    • #6
    • 19th Jul 17, 12:20 AM
    She should contribute to a pension once she's at work and can harvest an employer's contribution. For the moment she'd be wiser, in all probability, opening a regular saver account with (say) Nationwide. The 5% p.a. return is comfortably more than inflation.

    I agree that a LISA might suit her at the moment as a pseudo-pension once she's built up a decent emergency fund.
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