Nest Pensions charges

jimmyg_73

I want to start paying more into a pension. I already have a Nest pension from a previous employer so the easy option is just to increase my payments to this. 

Only thing is there's an initial charge of 1.8% on all inbound payments. The actual charge is 0.3%. I think this is pretty low??

Is this a bad deal? Am I better setting up a new private pension or just continue with Nest? 

I know no-one can predict the future, but aye those initial chargers very high?

tacpot12

The initial charge on inbound payments is pretty steep and it would be better to avoid Nest if you can find a better deal.

Does your current employer have a pension scheme you can join? Usually the costs of scheme membership are subsidised by the employer to some some degree, so joining your employer's existing scheme is usually a good option.

dunstonh

0.3-0.4% is becoming the more typical charge range nowadays for plans that use passives.

I know no-one can predict the future, but aye those initial chargers very high?

I believe that it's only Nest and SJP that charge initial charges nowadays.

Albermarle

The actual charge is 0.3%. I think this is pretty low??

As it is an 'all in' charge ( includes investment and pension administration charges) you are right that it is pretty low. More typically you would be paying 0.4% to 0.8% for similar investments/pension elsewhere.