Pension Advice?

dunstonh

Personal pensions/stakeholders/SIPPs have the same funds available on them as ISAs and are just a tax efficient wrapper with a different way of paying the maturity. They often have lower charges than an ISA too.

There is much chance as getting a bad advisor as there is a bad mechanic, doctor, teacher, police officer etc. It happens from time to time but the vast majority are fine. Lets be honest, thats not a real reason you havent done it. You just dont want to spend the money You can kick start it with the ISA funds but its worth keeping those and starting the works pension asap with maximum employer contributions

Talon_Karrde

dunstonh wrote:

Lets be honest, thats not a real reason you havent done it. You just dont want to spend the money

well ok, you got me.

when you young, and not on much of a salary (not that i'm on a great whack these days!! especially with 2 kids!) 15-20% is a big chunk from it. I was also over seas from the age of 21 to 26...in hong kong and vietnam, so in my defence it would have been a little more difficult...not enough to make excuses mind....!
cheers for that...i shall be calling the pensions advisor at work tomorrow!!

One last thing, I have heard that the charges for stakeholders is going up or something in the new financial year? If i set about it in the next week, will i make the deadline you think?

again, thanks for advice, just the kick up the !!!!!! i needed.....:rolleyes:

Ace

dunstonh

Yes, the stakeholder charge goes up in April to 1.5% amc for the first 10 years. Anyone signing up for a stakeholder before then will keep the 1.0% amc for the rest of their life.

Providers have already said they have their new products ready to launch with the new pricing. So get in there now. There is time as it is the date of the illustration and your signature on the application that matters not the date the insurance company actually processes it.