Advice please..30 something basic rate tax payer

atush

Mirtiz wrote: »

Thanks but can you please clarify what why I should open a SIPP instead of contributing more to my employers pension?

I said PP or Sipp not just Sipp. And that is because some of the auto enrollment pensions dont have a good range of investments and may not have access to cheap (as in annual mgmnt fees) multi asset funds like Vanguard and global trackers.

Mirtiz

Thanks all for your advice. I am in the process of setting up an 400 quid a month direct debit payment (roughly the half my age % amount) to the People's Pension. This is in addition to my minimum contribution direct from my payslip. 400 less quid a month scares me a little but I think I'm making up for lost time. I've temporarily stopped any overpayments on the mortgage so I'm paying the minimum 560 odd quid a month on the 1.94% mortgage for another 4 and a bit years. I figure I can always start the overpayments again if my pay increases (chance will be a fine thing..)
Appreciate all of your advice and comments.

One question I do have is my People's Pensions risk level is balanced but I do have the ability to increase this to Adventurous- given I'm at least 30 years away from retirement, is it worth taking the risk?