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Looking To Start A Private Pension...

Evening guys,


I'm looking to start paying into a private pension ASAP but have no idea where to start!?
Who do you all recommend? And is there a certain amount required each month to be paid in?


Thanks guys
«13

Comments

  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If you want to pay into a DC scheme alongside, and want to DIY look at Cavendish online, and Hargreeves Lansdown.
  • jdw88rm
    jdw88rm Posts: 37 Forumite
    Yes I'm still in the forces but I'm not going to be staying in long enough to get the pension.
    Whats a DC scheme?
  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Defined contribution = money purchase= personal pension. One you can pay money into, get tax relief and take as early as 55.

    how long will you be in the armed forces in total? Best to keep this pension if 2 years or more as it is a good one.
  • jdw88rm
    jdw88rm Posts: 37 Forumite
    I've been in for 3 and half years and hope to be out by 2017.
    No one has ever told us or gone into detail about the armed forces pension!?
  • xylophone
    xylophone Posts: 45,744 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I've been in for 3 and half years and hope to be out by 2017.
    No one has ever told us or gone into detail about the armed forces pension!?

    Have you read the link in my post 2? You might find it informative.
  • Dunnit
    Dunnit Posts: 160 Forumite
    With the exclusion of MP's you have potentially the best pension available in the UK. You need to read more and ensure you leave at the best time and do not miss out on its benefits.
  • jdw88rm
    jdw88rm Posts: 37 Forumite
    Yes I read it thank you. I'd still like to start a private pension. What can you recommend?
  • atush
    atush Posts: 18,731 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Cavendish online and hargreves lansdown
  • jdw88rm
    jdw88rm Posts: 37 Forumite
    Ok, reading into this... I didn't realise that not only do you have to pay to set a pension up but you also have to pay an annual fee for the management of the plan!? What management is needed exactly? lol
    AND THEN the amount of cash put away over the life of the plan isn't always guaranteed to be as much as put in!!!!
    I'm thinking of just having lots of ISAs instead
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