We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Restarting a pension

JONXLR8
Posts: 3 Newbie
Hi all, I'm a long time user of this website, especially for finding the best ISA deal, but I've just registered on the forum due to receiving a letter from the financial planning company that holds my pension fund.
I paid into this pension along with my employer from March 2000 to March 2008 when I changed job, I then transferred the whole of the original pension to the same financial planning company and continued to pay in until October 2010 when I moved to a company that doesn't offer a pension.
I'd now like to continue to pay into the pension privately but before jumping in wanted to get some advice on whether I was being offered a good deal or not.
I've scanned the letter and saved it here:
dl.dropboxusercontent.com/u/48985321/pension%201.jpg
dl.dropboxusercontent.com/u/48985321/pension%202.jpg
You'll have to copy and paste the addresses into your browser, as a new member I'm not allowed to post links.
Is the £250 a fair and uncommon fee to pay?
After reading the guide on this website I've looked at the Hargreaves Lansdown SIPP but I'm not really clued up enough to make a judgement on where to invest and probably wouldn't be able to give it the time of day. How often do people review their pension when administering a SIPP? Is it a case of constantly looking at the markets? Not sure I'd want that much involvement to be honest.
Any advice appreciated. Thanks
I paid into this pension along with my employer from March 2000 to March 2008 when I changed job, I then transferred the whole of the original pension to the same financial planning company and continued to pay in until October 2010 when I moved to a company that doesn't offer a pension.
I'd now like to continue to pay into the pension privately but before jumping in wanted to get some advice on whether I was being offered a good deal or not.
I've scanned the letter and saved it here:
dl.dropboxusercontent.com/u/48985321/pension%201.jpg
dl.dropboxusercontent.com/u/48985321/pension%202.jpg
You'll have to copy and paste the addresses into your browser, as a new member I'm not allowed to post links.
Is the £250 a fair and uncommon fee to pay?
After reading the guide on this website I've looked at the Hargreaves Lansdown SIPP but I'm not really clued up enough to make a judgement on where to invest and probably wouldn't be able to give it the time of day. How often do people review their pension when administering a SIPP? Is it a case of constantly looking at the markets? Not sure I'd want that much involvement to be honest.
Any advice appreciated. Thanks
0
Comments
-
Is the £250 a fair and uncommon fee to pay?
That sounds very reasonable. Remember there is not commission any more. So, you would probably be paying more under the old way but just not realising it.After reading the guide on this website I've looked at the Hargreaves Lansdown SIPP but I'm not really clued up enough to make a judgement on where to invest and probably wouldn't be able to give it the time of day.
it is also probably more expensive as well.How often do people review their pension when administering a SIPP?
Once a year. More if the figure gets bigger and your portfolio grows.Is it a case of constantly looking at the markets?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks for your quick reply, this sounds like the way to go then. I've posted the form back to them now.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.4K Banking & Borrowing
- 252.9K Reduce Debt & Boost Income
- 453.3K Spending & Discounts
- 243.4K Work, Benefits & Business
- 598K Mortgages, Homes & Bills
- 176.6K Life & Family
- 256.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards