Private pension advance please.

Rossplymouth

Hi guys I have a work pension but I would really like a private pension. I have searched all the different types but don't really understand it. All I'm looking for is a pension that I pay in each month and that's all I have to do. It's all a bit confusing. Thanks for your help.

Dazed_and_confused

Personal pension

Stakeholder pension

Self invested personal pension (SIPP)

Although SIPP probably isn't the one for you.

A pension is just a wrapper so if you simply paid in and did nothing else you would start to lose money due to the effect of inflation.

Do you mean you want to pay money in and have it invested within the pension in a single mainstream fund, something like Vanguard Lifestyle? This isn't a fund recommendation, plenty of other similar funds are available.

Rossplymouth

I just want a pension like I have with my work where I pay so much a week and then each year I just get a statement and I don't have to worry about it

NoMore

Why not just up your contribution to your works pension?


What's your reason for wanting a separate personal pension?

xylophone

Are you able to make additional contributions to your workplace pension?

Rossplymouth

I'm paying the maximum with my work, I didn't know I could pay more. Maybe I will call them and ask