Graduate looking for pension advice

Linton

Your company pension is likely to have much lower management charges than a SIPP as the employer may well subsidise it or have negotiated a good deal with the insurance company.

It is likely that the company would only pay into the standard company pension. The admin if everyone wanted something different could be more hassle than they would want to take on. I guess there is no harm in asking, but at this stage of your investment career I see no point.

The advantage of a SIPP is that it would offer a much wider range of fund and other investment options. However if you dont have the knowledge, need, nor amount of money to take advantage of these you would gain nothing.

atush

I am very BIG on pensions. But I would not add more than the 6% to get max emplyrs 6% unless and until you have paid off your debt. Do that first, then up contributions and start your cash savings too.

George_Smiley

Thanks for all of the help, kind people! It's very much appreciated.

Perhaps I'm being a little naive but is there anything else you would recommend I look into? With my pension and savings building up nicely over time, I'm trying to think if there's anything else I have missed. I'm going to start a thread soon in the housing section regarding deposits and general information about buying a house, but perhaps I need to think about life insurance or something? In 20 years time I don't want to look back and say "damn, I shot myself in the foot there!".

atush

If you have no mortgage and no dependants you probably dont need LI at this point. Esp as you may well have some Death in Service benefit with your employer and pension.

Remember, Pension and debt first, then emergency cash savings then longer term savings for a house etc. I am not sure you need to go much further than debt reduction/cash savings as you have the pension thing sorted now lol. I think after your debt is paid off, when you ae building your cash buffer is the time to look to other venues such as houses etc.