final pension scheme avc@s versus isas

michele555

I want to save £250 pcm but am very confused where it should go.
If i save it into our final salary scheme and the fund closes for example what would happen to my savings? Or should I go to an ISA, my bank nat west called me to suggest I may want to look at them, but when I looked at the top isa providers nat west weren't even listed.....any ideas?
michele

dunstonh

If i save it into our final salary scheme and the fund closes for example what would happen to my savings?

They are not savings. They would be going into a defined benefit pension scheme (if buying extra years) or a side fund (if buying AVCs) or some other scheme (if a hybrid option).

Or should I go to an ISA,

cash ISAs are not really any good for long term retirement planning. S&S ISAs are better positioned though.

my bank nat west called me to suggest I may want to look at them, but when I looked at the top isa providers nat west weren't even listed.....any ideas?

You should never seek advice from a bank. low skilled, limited product range, expensive, poor quality and sales orientated.

.any ideas?

You are looking at this the wrong way. You are looking at a product rather than looking at what you need and then what options exist to meet what you need. At the moment you are also only looking at 2 options when in reality there are many more.

Why do you want to put aside £250pm? Short term, medium term, long term? Will it be used for income later or capital expenditure?