Suggestions - Returning from overseas

desrover

Albermarle said:

Hope there are no major changes to ISAs/Pension contributions in the next few years.

I would not bank on that, especially where pensions are concerned .....

Thanks Albermarle. Are you thinking about the tax advantages of pensions being reduced? With relatively small amounts to transfer in I may be ok for the next 5-10 years or so but we do not know for certain. Governments are short of money though so I guess nothing is off the table!.

Pat38493

desrover said:

xylophone said:

The small amount into a pension should be no problem.

 Even if you have no relevant earnings, you can contribute up to £2880 to a personal pension and the provider will claim tax relief of up to £720 and add it to the pension.

For modest amounts Hargreaves Lansdown might suit - it is easy to open the SIPP and perhaps you might consider a global multi asset fund?

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

https://monevator.com/best-global-tracker-funds/

Thanks again for your suggestions. Did you recommend HL because they have a good reputation for managing small amounts or are their fees at the lower end for smaller sums? Trackers would be my choice with the current stock market volatility.

You might find this useful - this was posted on another thread where I was asking about SIPP providers.  From what I can tell, HL have a reputation for being very easy to use with a user friendly interface, but not the absolute cheapest.  It looks like Vanguard of AJ Bell might be the cheapest if you are talking about a very small amount (but be aware that with Vanguard you are limited to using only Vanguard funds).

Both of these have been updated in March..

Broker comparison: cheap investment platforms UK (monevator.com)

Find the best & cheapest SIPP - Money To The Masses

Albermarle

Thanks Albermarle. Are you thinking about the tax advantages of pensions being reduced?

Yes, as in general they are pretty generous. I am sure they will remain the best way for many to save for retirement but some tinkering around is inevitable. Ironically in the budget just gone, the tax advantages were increased for those with large pensions. However this might prove counterproductive if it provokes a reaction in the opposite direction by a new government.

t looks like Vanguard of AJ Bell might be the cheapest if you are talking about a very small amount 

A J Bell's charges are not as straightforward as Vanguard, HL, or Fidelity, where the basic platform fee covers nearly everything. Aj Bell have a fund buying charge and you always have to have enough cash in the account to pay the fees, or there is an extra charge.