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  • FIRST POST
    • Boorox82
    • By Boorox82 11th Jan 18, 5:09 PM
    • 1Posts
    • 0Thanks
    Boorox82
    Pension Help
    • #1
    • 11th Jan 18, 5:09 PM
    Pension Help 11th Jan 18 at 5:09 PM
    Hi,


    I need some advice after going round in circles trying to find a pension plan. I am 35 and have 5 years of an auto-enrolment pension.


    For some time I have been wanting to put money away in a pension pot not to be touched until 55. I am looking at investing £100 per month. Virgin money seemed straight forward but I have been put off by annual fees of 1%. I've had a look around today at a few that have lower fees and low monthly contribution thresholds. I do not know anything about stocks and shares etc and literally just want a pot to put cash into that is good in terms of tax and risk. All the pensions I seem to come across seem to be linked to investment? Can anyone recommend something for me?


    Claire
Page 1
    • MallyGirl
    • By MallyGirl 11th Jan 18, 5:42 PM
    • 2,308 Posts
    • 7,318 Thanks
    MallyGirl
    • #2
    • 11th Jan 18, 5:42 PM
    • #2
    • 11th Jan 18, 5:42 PM
    pensions will tend to have a significant portion in investments as the returns on cash are often less than inflation so a cash only pot would decrease in real terms value over time. A 20 year timescale is long enough to weather a few investment storms and make some growth
    • BLB53
    • By BLB53 11th Jan 18, 6:15 PM
    • 1,196 Posts
    • 981 Thanks
    BLB53
    • #3
    • 11th Jan 18, 6:15 PM
    • #3
    • 11th Jan 18, 6:15 PM
    The easiest solution would be to put the extra into your workplace pension if they agree to that.

    Otherwise open a SIPP with the likes of AJ Bell Youinvest and set up your monthly DD in a Vanguard Lifestrategy fund - maybe the LS 60.

    If you want to read up more about DIY pension options generally I recommend get hold of Edwards 'DIY Pensions' book.
    If you choose index funds you can never outperform the market.
    If you choose managed funds there's a high probability you will underperform index funds.
    • pennystretcher
    • By pennystretcher 12th Jan 18, 2:39 PM
    • 341 Posts
    • 1,370 Thanks
    pennystretcher
    • #4
    • 12th Jan 18, 2:39 PM
    • #4
    • 12th Jan 18, 2:39 PM
    Check if your workplace pension has AVC scheme in it - worth exploring..
    MFW Jan 2018 £190 (almost there!!!)
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