Private Pension help

emma.cook3

I am a carer of disabled children and have 17 years until retirement. We get child tax credits but moving on to Universal tax credits. This means I am no longer allowed to save for my retirement without losing all the tax credits. I am allowed to pay into a pension though ( I think?)  I therefore need a private pension to pay in a lump sum, then payments regularly. I don’t know what our income will be in the future, so I may not be able to pay a set amount each month. I also may work again in the future. I have looked at the pensions available but struggling to choose. So- how can I find a pension which will work for me? And how can I make an informed choice on risk- I having been putting this off for years because of stories of people paying into a pension then getting hardly anything out. Thank you. 

xylophone

Discussed  in your thread here

https://forums.moneysavingexpert.com/discussion/6343884/finding-a-good-private-pension-if-i-don-t-have-a-job/p1

Albermarle

There are many pensions that you can easily open on line nowadays. Just remember the provider is just an administrator and you money is in investments within the pension.
Have a read of these.
Pensions: Everything you need to know for retirement - MSE (moneysavingexpert.com)
Best SIPP: Build a low cost DIY pension - MoneySavingExpert

And how can I make an informed choice on risk- I having been putting this off for years because of stories of people paying into a pension then getting hardly anything out.
I would ignore the scaremongering, for most people a pension is the best way to save for retirement.
Regarding risk - higher risk means higher potential growth, but with some potentially big ups and down along the way.
Lower risk means a more stable journey, but less chance of good growth. In general the longer the time scale, the more risk you can take, but it depends on your personality as well.

Have a read of the above, and have a look at some of the providers websites, and feel free to come back with more questions .

xylophone

I therefore need a private pension to pay in a lump sum, then payments regularly. 

Note the information given in the thread above concerning pension contributions for non or low earners.