Company pension for contractors limited company

bograt2004

Hi,

I'm an it contractor and want to open a company pension so i can pay in.
So far when i've gone to financial advisors they quote things like £800 to £3000 for setting up a fund.

what i'm looking for is a low cost option 200 - 300 pound to open up a fund i can pay into.
can anyone recommend anything.
I've been digging around but as its a company pension i find resources limited .

thanks

WillowCat

As far as I'm aware most personal pension plans and SIPPs will accept employers contributions.

I've got a SIPP with Hargreaves Lansdown and am planning to go Ltd next year. They will accept contributions from my Ltd.

dunstonh

So far when i've gone to financial advisors they quote things like £800 to £3000 for setting up a fund.

You may find it cheaper if you dont mention you want to set up a company pension as that is not what you want.

However, £800 is not unreasonable.

Brynsam

The obvious free option is NEST.

Alternatively, any DIY personal pension if, as I think, you simply want a pension for yourself (not other employees of your limited company). Employer contributions can be paid into it, so simply open one for yourself and take it from there. Plenty of helpful info at https://www.citizensadvice.org.uk/debt-and-money/pensions/starting-a-pension/choosing-a-personal-pension/

bograt2004

dunstonh wrote: »

You may find it cheaper if you dont mention you want to set up a company pension as that is not what you want.

However, £800 is not unreasonable.

thanks for that . I wasn't sure just what is a good fee or not. Also i was advised to find someone one local to advise me and using unbiased.co.uk just pops up lots of different advisors and i don't know who's good and who isnt as good. each advisor i speak to gives me different advise and charges..

xylophone

https://www.taxcafe.co.uk/pensionmagic.html

https://www.pensionbee.com/pensions-explained/pension-contributions/contributing-to-your-pension-from-your-limited-company?ast=KNTTl9

The above may help you decide whether you want to set up a company and have the company pay the contribution or whether you want to pay contributions on your own behalf into a personal pension/SIPP.

https://www.cavendishonline.co.uk/pensions/pension-guidance/

http://monevator.com/category/investing/passive-investing-investing/

http://monevator.com/find-the-best-online-broker/

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

Brynsam

OP already has a limited company, looking at the title of the thread.

dunstonh

each advisor i speak to gives me different advise and charges..

No-one has given you any advice. A brief discussion without knowing facts is always going to be vague.

The obvious free option is NEST.

Its not free.

xylophone

OP already has a limited company, looking at the title of the thread.

It did not seem to me wholly clear whether he had yet set up the company or, if he had, how he wanted the contributions made.

Links in my post offer guidance to either choice.

bograt2004

Thanks all, Yes i shouldve been clear i'm already a ltd company.
But all the links has certainly made it a lot clearer

cheers

Dox

dunstonh wrote: »

Its not free.

It is for employers and that's what this query is about. Quoting from NEST's website: 'Free for employers to use, it’s great value for members too, with one simple charging structure whichever fund they choose.'