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Looking for a Sipp to put cash into, cheapest deal, best rates?
Legacy_user
Posts: 0 Newbie
Will put in around £40k
0
Comments
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Also, this is the first year I have been registering with a pensions scheme, which means I don't I can carry forward the last 3 years unused allowances, doh!
I have held savings accounts but not done anything pensions, so is it definite that I can't carry forward the last 3 years allowances?
It says:
"You must have been a member of a UK-registered pension
scheme at some point in each of the tax years from which
you wish to carry forward. No contributions need to have
been paid in those years. Years in which you were taking a
pension income also count"This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
yeah you definitely can't do it -- are you sure you haven't held one from years back from an old employer or anything?
As for the best provider, i'd suggest speaking to a local adviser.0 -
berbastrike wrote: »Will put in around £40k
What investments are you going to use within the SIPP?
Why have you decided on a SIPP as opposed to a PP which may be cheaper?
As to carry forward, you were told that in your last thread - it hasn't changed since then.0 -
Thanks,
Whats a PP jem?
That's a bit rubbish about not being able to carry forward last years allowance because I wasn't registered, strange rule!This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
berbastrike wrote: »Thanks,
Whats a PP jem?
Personal Pension.0 -
This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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berbastrike wrote: »I'm self employed, can I still get one?
Your employment status has nothing to do with the type of private pension you choose, whether it's SIPP,PP or stakeholder.
However from your questions I would doubt that a SIPP is the best product for you as it's more for an experienced investor.0 -
I have no idea about pensions honestly.
How does the money grow in a PP?
I want to put in a cash SIPP so it is very safe.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Why?
A cash SIPP isn't at all safe because of the inflation risk.
What exactly are you trying to achieve?0 -
I want to put in a cash SIPP so it is very safe.
Or very risky depending on how you are measuring risk. Cash for long term suffers shortfall risk and inflation risk for example. Risks where are far more likely to happen than with investment risk.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
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