Pension advice DB to DC

xylophone

Thanks. Given that this will be a relatively short term scheme, can you suggest other reliable providers with low entry fees?

"Short term" ?

You do realise that even when you cease paid employment, up to age 75 you may continue to contribute up to a net £2880 per annum to Relief at Source pension and  tax relief of  up to £720 per annum will be added?

You would not need to be an expert in investment to use a SIPP.

The following may be worth a read

https://moneytothemasses.com/saving-for-your-future/pensions/the-best-cheapest-sipps-low-cost-diy-pensions

https://www.investorschronicle.co.uk/ideas/2022/05/26/picking-a-low-cost-sipp-provider/

https://monevator.com/low-cost-index-trackers/

https://www.thetimes.co.uk/money-mentor/article/best-ready-made-personal-pension/

 

bluenose1

concernedpharmacist said:

Thanks. Given that this will be a relatively short term scheme, can you suggest other reliable providers with low entry fees?
I don't think I am sufficiently expert to self-invest so not looking for a SIPP.

I will be living off mine for approx 3 years and have it in a cash SIPP with HL with no charges, though inflation isn’t doing me any favours. 
Really easy to open and no expert knowledge required.  I have taken out the 3 small pots allowed of £10k each  from HL as does not affect MPAA.

dunstonh

hanks. Given that this will be a relatively short term scheme, can you suggest other reliable providers with low entry fees?

Nest are virtually unique in having initial charges.   So, that means pretty much all available alternatives have no initial charge.

Albermarle

concernedpharmacist said:

Thanks. Given that this will be a relatively short term scheme, can you suggest other reliable providers with low entry fees?
I don't think I am sufficiently expert to self-invest so not looking for a SIPP.

Unless you employ a financial advisor, you can not really avoid to self invest/make investment choices. All pensions will give you a choice of investments. Some will have a very large choice, but will also offer some simple solutions. Some will have a very small choice, but in the end you have to choose something, even if it is made easier in some pensions than others.
Workplace pensions are usually  an exception , in that if you do not choose an investment they have a default investment.
However there is no guarantee this will be best for you and often this is the case.

But don’t use NEST they take 1.8% of your contributions. Then charge 0.3% which is on the lower end so for those that are invested for decades it’s not terrible but for short term use the high entry fee will not be offset. 
I agree with these comments.

If you are likely to want to take the money from the pension, within a relatively short space of time ( < 5 years ) you consider not investing it but keeping it in the pension in cash. However longer term this is not recommended , not 100% cash anyway.