Need help with joining new pension

techno79

I was given a HSBC pension with my previous employer as they were contributing a percentage amount into it. I was not contributing anything myself on top. The pension was a private pension so that if/when I left the company, I could still use the pension to make my own contributions.

Since leaving the company, I've wanted to make my contributions but I've found the online system for HSBC to be completely non-user friendly. Everyone I speak to in HSBC branch refer me to a pension help line which takes forever to resolve any issues and I've had so much hassle.

I want to transfer my pension to somewhere else where I can visibly see the pension account and manage it properly.

I'm completely lost with pensions so I don't know where to start. Where can I find an impartial list of pensions to go through? Is there a specific type of pension I should be looking at? The company I work with at the moment does not contribute anything so it would be my own contributions.

My current pension is a lifestyle pension (as I understand, this is a risk profile based on age; the risk of investment decreases as I get closer to retirement age).

Can someone please help? TIA

dunstonh

Since leaving the company, I've wanted to make my contributions but I've found the online system for HSBC to be completely non-user friendly. Everyone I speak to in HSBC branch refer me to a pension help line which takes forever to resolve any issues and I've had so much hassle.

HSBC only offered basic products and the branch staff are no longer authorised to get involved.

I'm completely lost with pensions so I don't know where to start.

That is a problem. You say you want to DIY but then you admit that you dont know where to start. The bank products are largely designed for people that dont know what they are doing. The DIY products are largely designed for people that do know what they are doing.

Is there a specific type of pension I should be looking at?

Stakeholder pension, personal pension or SIPP. Probably not a SIPP if you dont know what you are doing. Stakeholder pensions are typically basic and limited in features but you cant really do much damage by making mistakes on a stakeholder pension.

xylophone

You could see an IFA? http://www.unbiased.co.uk/pensions

The company I work with at the moment does not contribute anything so it would be my own contributions.

When will your company be obliged to offer a pension?
https://www.gov.uk/workplace-pensions/about-workplace-pensions