Good or bad time to increase pension contributions ?

atush

I would go with whoever has a, th lowest charges, and b, the greatest number of choices in where I can invest. Look at transfer in charges as well as buying.seliing.annual charges.

dunstonh

Thanks for the Cavendish suggestion gadgetmind, i see money saving expert recommends them too which is nearly enough for me alone.

Just be wary of the MSE article where it recommends them as it is woefully out of date. For example, the Aviva product mentioned in the example has been replaced twice since the article was written with new examples and grid of comparisons shows incorrect figures.

Should i just stick with stakeholder or go for personal ?

Whichever is best for your contribution and depend on which pension provider you choose and what investments you want. You will need to experiment.

gadgetmind

Avonvilla wrote: »

Thanks for the Cavendish suggestion gadgetmind, i see money saving expert recommends them too which is nearly enough for me alone.

As dunstonh says, that article is out of date, but the key message is still valid. You'll need to click through from Cavendish to find a provider with the combination of funds and fees that suit your tastes and pot size.

Should i just stick with stakeholder or go for personal ?

If your monthly contributions are large enough for a personal pension, then the advice now seems to be to go for it to access the wider range of funds.

Your other option is the IFA route, particularly if your pension has (picks a number from the air) over a decade left to run. IFAs assure me that they can beat Cavendish so make sure you take some print-outs with you.

Two other points -
1) Read a book on asset allocation such as Smarter Investing by Tim Hale. This explains why your need to get your assets/territory allocation right and why low fees are important
2) Note that charging structures will be changing soon due to the Retail Distribution Review.

Yes, this should all be simpler, but if you want to get the most out, then you need to put some work in, or pay someone else to do it.

BTW, even that Virgin pension is WAY WAY better than not having one so don't go thinking you got something badly wrong: it's just that there are now better alternatives.

dunstonh

BTW, even that Virgin pension is WAY WAY better than not having one so don't go thinking you got something badly wrong: it's just that there are now better alternatives.

Agreed. It is better than doing nothing. You are just putting a lot for getting little. When a DIY option costs twice as much as an IFA option then you know it is bad. However, doing nothing is worse.

Avonvilla

Maybe an ifa is the way to go for me