choosing a pension scheme

srcandas

My wife is 55 soon and wil get some sort of pension from Spain, her home country, and some from the UK (3 years contributions to date) when she is 65, 66, 67 or ..................

I'm assuming she will get a bigger personal allowance than her pension. So not to lose the tax free difference and as she has a £12000 salary I thought she should accumulate a pension fund. At worst it should get to £20000 contributions over 10 years.

Having looked many seem to offer very limited investment funds which have been pretty poor performers, have high running costs, and/or big buy/sell differentials.

Can anyone suggest how I find a suitable candidate for such circumstances? Or comment on if a sippdeal might be better (bearing in mind this is part of our strategy and not therefore my wife's only source of retirement cash).
:beer:

atush

Are you and she wanting to choose the investments yourself? If so, you can go to one of the online platforms and choose a pension that way (either a personal P or a SIPP)?

Have a look at Cavendish Online, HL, Fidelity Funds Network etc.

In any case, I would ask the DWP for a pension forcast for her (incl information on her Spanish contribs) as she can add them together. But where to take a pension may be influencedby where you will both live in retirement?

srcandas

atush wrote: »

Are you and she wanting to choose the investments yourself? If so, you can go to one of the online platforms and choose a pension that way (either a personal P or a SIPP)?

Have a look at Cavendish Online, HL, Fidelity Funds Network etc.

Tx atush I thought you might say the online sipps were not good for a small amount but I quite like the look of sippdeal. Happy to share trade in it and just regig the rest of my portfolio to keep things in balance.

atush wrote: »

In any case, I would ask the DWP for a pension forcast for her (incl information on her Spanish contribs) as she can add them together. But where to take a pension may be influencedby where you will both live in retirement?

Do you know for sure that the two sets of contributions ((28 years in spain, 3 so far here) can be added together and claimed in this case in the UK?

We have had lots of mixed information on this. If we could get a UK pension for my wife so much the better as in Spain the pension is based more on your final 15 years of working life.

We can be resident in either country as we like when the time comes so no probs there :beer:

atush

Yes, to my understanding this is part of the whole EU/single market thing. There have been posts here from germans and other EU citizens combining UK and EU pension entitlements.

But you need to contact DWP about it, or do a search on the forum as I am sure xylo or someone posted links about it.

srcandas

atush wrote: »

But you need to contact DWP about it, or do a search on the forum as I am sure xylo or someone posted links about it.

Tx again atush. As always with EU documents it is all open to interpretation. It seems that each country will calculate her pension. So in Spain she will miss out big time as they calculate on your final 25 years before retirement (up until recently was 15).

And in the UK on number of years. Might be 8 years and any we can buy if that proves worthwhile.

But as always with the EU there are a number of possibilities, loopholes, routes for appeal, ..........

I guess I better get working on her Sippdeal fund cause she is going to need it

atush

ALWAYS is best to have your own pensions on top of what the state will provide.