Restarting a pension

JONXLR8

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

dunstonh

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?

no. That is often the way to lose more money.

JONXLR8

Thanks for your quick reply, this sounds like the way to go then. I've posted the form back to them now.