Best Pension for a Child

omega23

Hi,

I would like to open a pension for my child but am unsure which pension company to use e.g. Scottish Widows, Virgin, Standard Life, etc? Are there any comparison tables to show these company's past performance or will they all produce very similar profits during the length of the pension.

Thank you all for your help :-)

EdInvestor

That's not the way pensions work.The performance depends on which funds you pick within the pension, not which company provides the pension wrapper.

dunstonh

e.g. Scottish Widows, Virgin, Standard Life, etc?

Virgin is probably one of the worst stakeholder pensions there is.

Are there any comparison tables to show these company's past performance or will they all produce very similar profits during the length of the pension.

pensions dont make or lose money. So, performance tables wouldnt matter. Its the investments that do the performance and one thats invested 100% in Asia will perform differently to one that is invested 100% into UK Equity or another invested 100% into a cash fund (and so on - plus 100% investing in one fund is not normally a good idea unless its a sector allocated all-in-one fund).

If you are going to do it properly then you should focus on the investments side first. The provider comes after that as the provider may not offer the funds you are you looking to invest in. If you cant analyse and research this yourself or cant give it the time (as it is time consuming) then get a local IFA to set it up for you. It will cost no more then Virgin (for example) and possibly less.