Self Invested Pension

raemon

Hello everyone.

I would like to request some help please. Obvious from the title thread it is about pension. Simple question, I want to start and would like to know some good ways of self invested pension or any other pension schemes. Researching from this site I have found out, it is better than a company pension (which I had one with my last job for about a year and a half).


Any help will be much appreciated. As I have been putting this off for a while and would like to start.

Raemond

jem16

raemon wrote: »

HSimple question, I want to start and would like to know some good ways of self invested pension or any other pension schemes.

Not a simple answer though. There is no one "best buy" pension - it all depends on individual circumstances.

Researching from this site I have found out, it is better than a company pension (which I had one with my last job for about a year and a half).

Where exactly did you read that? Most company pensions (especially final salary) with employer contributions cannot be beaten.

raemon

Thank you for your reply.

jem16 wrote: »

Not a simple answer though. There is no one "best buy" pension - it all depends on individual circumstances.

What would effect the pension based on circumstances? I am in a steady job earning 20k and will get higher as i progress.


Where exactly did you read that? Most company pensions (especially final salary) with employer contributions cannot be beaten.

I got it from this link:

http://www.moneysavingexpert.com/savings/discount-pensions

I am new to this so i may have misunderstood.

jem16

raemon wrote: »

Thank you for your reply.



I got it from this link:

http://www.moneysavingexpert.com/savings/discount-pensions

I am new to this so i may have misunderstood.

That article basically said that a personal pension MAY be better IF your company does not contribute.

If the company does contribute it can't be beaten.

If the company does not contribute then you need to cpmpare charges.

Do you have access to a company pension and does your employer contribute?

raemon

Ok my mistake, i read it wrong. I currently do not have a company pension, that is why I am looking for a self funded/ or something that will contribute to my pension.

jem16

raemon wrote: »

I currently do not have a company pension, that is why I am looking for a self funded/ or something that will contribute to my pension.

Then you have access to a SIPP, a stakeholder and a personal pension.

raemon

Thank you for your replies jem16. How do i start one of these?

dunstonh

SIPPs are for experienced investors looking for greater investment choice. Typically for larger investors as well. SIPPs can be the most expensive option for funds. So, does your investment knowledge and investment amount make a SIPP suitable or would a stakeholder pension or personal pension be a better choice?

raemon

dunstonh wrote: »

SIPPs are for experienced investors looking for greater investment choice. Typically for larger investors as well. SIPPs can be the most expensive option for funds. So, does your investment knowledge and investment amount make a SIPP suitable or would a stakeholder pension or personal pension be a better choice?

hi, Thank you for your time

No my investment knowledge does not make sipp suitable. I have no idea how a stakeholder pension and personal pension work. I am looking for something where i can put a percentage of my salary in. Or if there are better options for me.

jem16

raemon wrote: »

I have no idea how a stakeholder pension and personal pension work. I am looking for something where i can put a percentage of my salary in. Or if there are better options for me.

I seriously suggest you seek the advice of an IFA who can look at your circumstances and advise you.

A stakeholder and personal pension still require fund choices to be made and you don't sound like you will be able to do this yourself.