Redundancy into pension

lisyloo

kidmugsy wrote: »

If you don't already have a personal pension you could always open one now for some modest amount, and then it'll be all set up for when you want to add the extra. The firm we use, Hargreaves Lansdown, accepts contributions over the phone using your debit card. I dare say that some of the competition can do so too. If you go to the Monevator blog, you'll see their table about the costs of the different providers.

I've just set up a SIPP with novia with an advisor I've known for years and trust and transferred my last 2 pensions into that.
My new employer uses Hargreaves lansdown so I think I'll end up with 2 SIPPs as I think I'll have to use them to get the employer contribution, but may well put in the minimum to that one as I know and trust the other advisor.

It's a bit annoying for me that I can't get employer contributions unless I use their GPP/SIPP but I will ask the question when I start.

lisyloo

kidmugsy wrote: »

By the way, before you pour money into a pension, are you happy that you've got a big enough emergency fund stashed somewhere? Say 6 months worth of outgoings.

Yes - around 12 months.

kidmugsy

lisyloo wrote: »

It's a bit annoying for me that I can't get employer contributions unless I use their GPP/SIPP but I will ask the question when I start.

Looking on the sunny side, you get the employer contribution, plus you diversify across providers. Some day you may be happy with that diversification.