private pesnion vs new pension

sukh38

Hi,

My employer has opted colleagues into the new pension scheme just want some help to make sure I am in the best scheme.

Ok I am part of the old scheme (Private pension) pension scheme 1

I put in 3% my employer adds another 17%
I put in another 3% my employer matches that also.

Pension scheme 2 is the new one that all employers are doing the company puts a lump sum towards their employees pension.


Is there any flaws with pension scheme 2 ? Can someone tell me the difference or which sounds more beneficial in the wrong run.


Many Thanks

Andy_L

Without any details of scheme 2 we have no idea. IS the lump sum in scheme 2 more or less than the 20% in scheme 1?

atush

As said, we can't tell. but any LS that doesn't match the 20% you get now is a bad deal

Also, look at charges, funds/investments available. It sounds like your Sch1 is a Barclays pension, which is predominantly gilts/bonds based