In desperate need of advice on starting a pension

Lola555

I have a pension sharing order from a divorce and need to put this into a new pension in my own name.
I have been advised to see a financial advisor, but these can be costly.
How do I go about setting up a pension?
It's in the Royal London at the moment and would like it to remain there but they told me to see a financial advisor to set one up in my name.

Are stakeholder pensions good value as I'm on a low income?

Can someone help me please

dunstonh

It's in the Royal London at the moment and would like it to remain there but they told me to see a financial advisor to set one up in my name.

RL don't sell products direct to public. Only via advisers.

Are stakeholder pensions good value as I'm on a low income?

Basic and simple product but no longer the cheapest option on the market unless you are talking values below £20,000.

atush

I have been advised to see a financial advisor, but these can be costly.

It can also be costly to pick your own investments if you dont know about investing?

How old are you? Who do you work for now, and do you pay into a pension with your employer?

you could open a Personal pension online and get them to transfer in this pension. If not taking advice, I suggest you go with a global tracker or multi asset fund like vanguard. Then read up on investing. Start at Monevator

Lola555

Thanks for the replies.
I think it will be best to see a financial advisor as it does seem complicated.

xylophone

https://directory.moneyadviceservice.org.uk/en

Are you working? Does your employer offer a pension?

Have you established your state pension situation?

https://www.gov.uk/check-state-pension

justme111

xylophone wrote: »

https://directory.moneyadviceservice.org.uk/en

Are you working? Does your employer offer a pension?

Have you established your state pension situation?

https://www.gov.uk/check-state-pension

She has not asked for lifelong financial planning advice. All she needs is somewhere to transfer a chunk of exes pension to.
Lola , it is easy. Either ask your employers HR whether they can accept a transfer or do a search for "investment platforms pensions", pick one of the platforms with the smallest charge (will likely be fidelity or Cavendish online website or Charles Stanley direct ), open a pension account and give details to solicitors. Then you can chose some default pension investment option on those platforms or read about investments and chose some yourself). Alternatively you can ask IFA indeed depending on sums involved.

xylophone

She has not asked for lifelong financial planning advice.

And I wasn't going to give it!

I asked about whether she had an employer's pension precisely to discover whether a transfer in would be a possibility and as for the SP, wise for everybody to establish his /her position for planning purposes?

http://www.thisismoney.co.uk/money/pensions/article-4763618/Get-state-pension-RIGHT-track.html