NEST Pension vs SIPP

Albermarle

Brie said:

Large companies can afford to pay to have their own pension fund whether it is in house or with a large pension admin firm.  Smaller companies (which is why your accountant probably picked this idea) go for Nest as it's easy.  Nest is also good for those individuals who might switch and swop employers more frequently (building trade for instance) so that they can continue in the same scheme.  

No reason why in your circumstances a SIPP with a large investment group couldn't be a good alternative for you.  Why not talk to an IFA (not a FA who is tied to a company) who might be able to give you a better idea of what suits you in particular.  Normally chats for an initial hour are free so you can see if you are a good match to the IFA.  Check who's in your area on vouchedfor.co.uk.

An IFA is unlikely to be interested in someone with zero pension.

dunstonh

An IFA is unlikely to be interested in someone with zero pension.

If the IFA was a trainee, or recently set up their own firm and light on clients or its the family IFA then they probably would.   

However, there is a larger issue here.  If the OP was to opt out of the workplace pension set up by his dad, then he would be classed as an opt out and that means an adviser would require pension transfer specialist permissions to give advice on pensions.    Providers often have a question requiring you to declare if you have opted out or not.

Is a PTS IFA likely to want to deal with a small opt out (when the advice is likely to be opt in)?

Check who's in your area on vouchedfor.co.uk.

Firms that use directories like that tend to have higher charges to cover the enormous cost of using that directory.