New Stocks & Shares ISA: Am I getting this right?

eskbanker

dutchcloggie said:

And can you change a S&S ISA I to one of those? Like, can I just tell HL I want a SIPP instead? 

You can't change one into the other as such, but could open a SIPP and pay into it with cash that could have come from the ISA, subject to your overall annual pension contribution allowance, based on your qualifying earnings.

dutchcloggie

eskbanker said:

dutchcloggie said:

And can you change a S&S ISA I to one of those? Like, can I just tell HL I want a SIPP instead? 

You can't change one into the other as such, but could open a SIPP and pay into it with cash that could have come from the ISA, subject to your overall annual pension contribution allowance, based on your qualifying earnings.

Yeah,none of that makes sense to me.

Pension contribution allowance? I'm only allowed to save a specific amount? And if so, how much? Qualifying earnings? How much is that? When does it no longer qualify....

These are rethorical questions so please don't answer them. 

 I am financially illiterate, apart from: do not spend more than you have coming in.  That is a good basic strategy but will never make me anyoney (nor lose me any either  though)

I will have to ask a financial advisor for anything more compliated than a bank account with money that I save. 

daz378

Hopefully won't  need it...but prefer the liquidity  of the isa  for now