How long does it take to open a personal pension

dunstonh

I just went over to the HL site The pension provided here was SIPP - I think given my particular use for this pension and my current lack of understanding in relation to shares - stake holder would be better

Stakeholders cant do drawdown. Stakeholders are largely a niche option nowadays anyway. Your choice is usually personal pension or SIPP.

AnotherJoe

As said, no reason you cant do this with an HL SIPP. From memory, they have one or two cash funds, fairly low interest rates but better than nothing and better than just cash.

penwise

Thanks for all your replies.

I have just opened a HL SIPP on the phone.
I am now going to do a transfer to it.
One last question -

'100% of my Relevant UK Earnings (within the meaning of section 189 of the Finance Act 2004) for that tax year.'

I did voluntary exit and got compensation 30000 was tax free and 20000 was taxed

Is my 'relevant uk earnings' my salary for the year plus this 20000

Thanks for all your help

xylophone

See http://adviser.royallondon.com/pensions/technical-central/information-guidance/contributions-and-tax-relief/member-contributions-tax-relief-and-annual-allowance/

jamesd

And if in doubt, ask your helpful new SIPP provider on the phone, it's just the sort of question that they can help with.

penwise

Money transferred. Thanks for your help

mgdavid

in the nick of time - well done sir!