27 year old fiance with no pension - what should she do

pstones578

She works for a company with no pension scheme so I'm thinking she should start a private one and then when she does finally start to work somewhere with a company pension scheme she can then stop paying into the private one and just let it sit there until she retires.

Can anyone recommend what provider she should be looking at?

dunstonh

Can anyone recommend what provider she should be looking at?

Not on that criteria no. However, the pension type does indicate that a stakeholder pension is the one most likely to fit (as they can be stopped/started, increased, decreased etc very easily)

Lokolo

Pensions will be changing soon, with employers being made to have a pension "scheme" and employers contributing to it.

http://www.nestpensions.org.uk/what-changing.aspx

diable

Don't bother.

Aegis

diable wrote: »

Don't bother.

Anything more constructive to add, or at least some rationalisation for that comment?

Such as the following queries:

What is your fiancee's tax rate?
Has she had any experience of managing her own investments?
Has she utilised her ISA allowance in full yet?
How much disposable income does she have after her outgoings have been deducted from her current net pay? Could she increase that amount if she found something worth spending a little more on monthly?
Is she likely to become a higher rate taxpayer in the foreseeable future, assuming she isn't one already?

The combination of answers will determine whether a pension is suitable at this time, however in the long term a pension is likely to be an excellent choice for at least a proportion of longer term savings. The trick is finding one with the right types of fund at a reasonable cost.