Transferring a Pension

Tammy2

Thanks all - I will take a good look at the state pension links.

I have an 8 year old daughter too and receive CB in my name for her (although my husband has to pay it all back!)

jem16

Tammy2 wrote: »

I have an 8 year old daughter too and receive CB in my name for her (although my husband has to pay it all back!)

Perhaps your husband can pay extra into his pension to avoid losing the Child Benefit? With 40% tax relief too this would be a good idea.

Tammy2

jem16 wrote: »

Perhaps your husband can pay extra into his pension to avoid losing the Child Benefit? With 40% tax relief too this would be a good idea.

We did think of that at one stage, (it's a very good idea), but he's not close enough now to make that feasible.

atush

You can contribute to a pension now, at up to 2880 per year which the govt grosses up to 3600 for you.

So you can tuck some away.

AlwaysLearnin

FYI, as a non earner/tax payer you can contribute £2880 to a pension each year, and HMRC will top it up as if you were a 20% tax payer!

https://www.gov.uk/tax-on-your-private-pension/pension-tax-relief

Tammy2

Right, I've been having a look at low cost SIPPs. The Fidelity PathFinder Foundation 4 looks quite interesting (but what do I know, lol).

Any thoughts on it? Sadly, I can't link being a newbie, but Google ought to pull it up.

AlwaysLearnin

Can't comment on that one specifically, but this might help:

http://monevator.com/compare-uk-cheapest-online-brokers/

Be aware of the numerous fees...

jem16

Tammy2 wrote: »

Right, I've been having a look at low cost SIPPs. The Fidelity PathFinder Foundation 4 looks quite interesting (but what do I know, lol).

That's not a SIPP - that's an investment fund.

atush

As above you are confusing investments within a pension, with the pension wrapper itself.

You need to clue up on your jargon.

S&S Isas and pensions are wrappers (sipps and personal eponsions are 2 different kinds of pension wrappers).

Funds, stocks, trusts, bonds etc can be held in wrappers.

Some wrappers are better than others for certain investments.

Tammy2

Oh dear - I'm really confused now.

It says it's a SIPP and that I can transfer to it.
"The quick and easy way to start your SIPP
Tell us your attitude to risk and we'll show you just three PathFinder Funds, managed by Fidelity, to choose from - all three will match your preferred level of risk.
Just choose one and we'll do the rest.
Alternatively, if you are looking for income rather than capital growth we also have three PathFinder Income Funds to consider."

I shall go back and read and try to find where I've got muddled.

Edit: Their phone lines are open tomorrow - I'll give them a ring.

Thanks for all the help peeps. I shall do my best to speed up on jargon etc.