£25-50 a month pension

redux

atush wrote: »

You can invest cheaply in ITs but in ISAs, not pensions.

dunstonh wrote: »

Most platforms have the same costs for ISA as they do pension (and unwrapped). Although that is on the IFA side. It could be different on the DIY side.

When I started an investment trust pension, there was only the stamp duty on purchases then about 0.4 to 0.25 per cent annual administration charge, capped at £175.

Unfortunately that administration manager recently decided to move out, so it will now cost more with the replacement, though I haven't quite worked out yet how much, or whether to move again.

Some go on annual flat rate, some on percentage, mostly a mixture, so the best charging regime can vary a lot depending on the amount the account holder has in their scheme. The OP probably wants a percentage based one to start with.

Chart comparison of DIY schemes in Telegraph - but note this was a year ago:

https://www.telegraph.co.uk/finance/personalfinance/investing/sipps/10607824/DIY-pensions-The-cheapest-Sipp-fund-supermarkets.html

Brightspark87

Hi can I suggest that you don't but into a SIPP as you really don't need one. Have you got an accountant? IF so ask him for some suggestions or get an IFA who can help you

atush

They need a pension as well as a home to live in.

They dont have to use a Sipp for a pension, they can use a personal or an employers pension.

xylophone

I'm freelance, sort out my own tax/NI yes.

The OP doesn't have an employer, it would appear.

I'd have thought that for so modest a contribution, a stakeholder would be the answer?

http://www.legalandgeneral.com/pensions-retirement/stakeholder-pensions/ might be worth a look?

Brightspark87

that l&G plan is more expensive than the SIPPs!

xylophone

that l&G plan is more expensive than the SIPPs!

But there are other possible charges to consider with a SIPP, for example a possible transfer out charge.

http://www.thepensionsregulator.gov.uk/employers/about-stakeholder-pensions.aspx