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SIPP or Private Pension
1971graeme
Posts: 14 Forumite
I think i'm going to go into a higher rate tax bracket for this year 2014/15. Prob not by much, 2k at most due to working more overtime and investment income. I'm in a work pension scheme and i also have around 8.5k in Woodford fund in H&L stocks and share account and i have 8k i can use elsewhere to pay into a pension inorder to get tax relief at 40% instead of 20%. Not sure on best platform i.e bed and sipp the woodford fund with H&L or use other 8k into private pension. Hopefully i can build up pension over years with around 8k a year for next 10 years by taking money from other investments. Question really is charges on a sipp worthwhile for a low amount to begin with, with few trades as compared to private pension. I am happy with Woodford fund to build on.
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