5k to invest in pension or isa?

flyinghorse007

Hi all,  I have 5K to invest , do I put it into my ISA  ( stock and shares) that has over 10K or do I put into my very small pension  3.5K. I'm over 50 have no other private pension and at the moment I'm working 0 hour contact as I'm   unable to work my self employed job.  Thank you in advanced.

Costabit

On those figures the Pension beats ISA in almost every scenario.
The only reason not to top up the pension would be the restrictions on accessing the money until 55.
So if you are sure that you wont need the money before 55 at the earliest, and are not exceeding the Maximum Permitted Annual Allowance , the pension would be first.

sevenhills

flyinghorse007 said:

Hi all,  I have 5K to invest , do I put it into my ISA  ( stock and shares) that has over 10K or do I put into my very small pension  3.5K. I'm over 50 have no other private pension and at the moment I'm working 0 hour contact as I'm   unable to work my self employed job.  Thank you in advanced.

If there is a chance that you will claim benefits, could it take you over the £16,000 savings limit?

If you are on a zero-hours contract, you may need the money, but if not you will get tax relief in a SIPP. I am in the process of transferring the shares in my ISA, to a share holding SIPP.