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SIPP vs Personal Pension

resilie · 2019-02-26 12:06:45

I want to invest about 35k as a lump sum into a pension this tax year with smaller lump sums to follow in the next few years... I have seen an IFA for an initial consultation about all sorts of things (incl life insurance etc) and told him I am thinking of putting money into a SIPP. He told me he thinks a personal pension…

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dunstonh Posts: 119,641 Forumite

28 February 2019 at 1:24AM

1) Do not pay the IFA for investment advice

why not?

3) If you want an EXTREMELY hands off approach, you can do much worse than chucking it in the people's pension.

Awful admin and not really aimed at the individual market.

Paying an IFA to put your money in funds for you is a bad, bad, bad value idea, 99% of the time.

Where do you get that idea from?

alongside some cheap index tracking fund selections of your own.

Random hit and hope is bad investing and likely to lead to lower returns over the long term.

I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.

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