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Private Pension
![[Deleted User]](https://us-noi.v-cdn.net/6031891/uploads/defaultavatar/nFA7H6UNOO0N5.jpg)
[Deleted User]
Posts: 0 Newbie
I want to set up a private pension. Stakeholder or SIPP I am still researching anyone care to recommend a few providers to look at?
I already contribute to a workplace pension and a stocks and shares isa which is my Rainy day fund and now I want to set up a private pension. I am 29 years old so hoping contributions over 30 + years will be a nice pot
I already contribute to a workplace pension and a stocks and shares isa which is my Rainy day fund and now I want to set up a private pension. I am 29 years old so hoping contributions over 30 + years will be a nice pot
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Vanguard now do SIPP and the fees are very low. All in all I am not sure you could beat this option!2
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But isn't that only an option if you are happy using just Vanguard's own fund range?0
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I want to set up a private pension. Stakeholder or SIPP I am still researching anyone care to recommend a few providers to look at?Stakeholders are largely obsolete nowadays (or niche would perhaps be better)
personal pensions are not that common now
SIPPs are probably the main product nowadays
workplace pensions are often good for small values with your current employer
robo providers are probably good for small amounts if you want to be app based.I already contribute to a workplace pension and a stocks and shares isa which is my Rainy day fund and now I want to set up a private pension. I am 29 years old so hoping contributions over 30 + years will be a nice potWhat is wrong with your workplace pension?Vanguard now do SIPP and the fees are very low. All in all I am not sure you could beat this option!a) it is not a real SIPP.
b) it only offers vanguard funds. No single fund house has the best funds in every area. So, a restricted option means you need to compromise.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Can you not increase your contributions to your workplace scheme? If it's salary sacrifice it makes even more sense[Deleted User] said:I already contribute to a workplace pension and a stocks and shares isa which is my Rainy day fund and now I want to set up a private pension. I am 29 years old so hoping contributions over 30 + years will be a nice potRemember the saying: if it looks too good to be true it almost certainly is.1 -
Query should be here: Pensions, annuities & retirement planning — MoneySavingExpert Forum0
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Also some employers will increase their contribution if you increase yours, to a point.jimjames said:
Can you not increase your contributions to your workplace scheme? If it's salary sacrifice it makes even more sense[Deleted User] said:I already contribute to a workplace pension and a stocks and shares isa which is my Rainy day fund and now I want to set up a private pension. I am 29 years old so hoping contributions over 30 + years will be a nice pot
OP have you checked this? and as @jimjames asks, by what method are your workplace pension contributions made?1
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