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Trying to find a private pension for a non-pension savvy person
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LHW99 said:Have you read this?"If you want to stop working but don’t want to start drawing on your savings, you can become what’s known as a ‘deferred member’. This means you wouldn’t be paying into the scheme, but we would still be managing your savings for you."Looks as if you could leave any funds with Smart Pensions if you don't want to draw on them immediately.That gives you the chance to take your time to work out what is best for you.Yes, the above came to light during one of several calls to the same.0
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Albermarle said:I have read what I am able to digest on the moneysavingexpert website - I am not financially savvy and so have also stopped in here to ask the forum for some advice.
If you spend some time reading through the threads on this forum, then that could help as well. Best avoid the more complicated discussions, and look for new posters asking relatively simple questions like yourself and reading the responses.
The suggestion by a previous poster to wait until you get a new job, and then transfer the Smart pension into your new employers pension is probably the simplest option.
What i believe that i need is a pension where any funds added will be invested by the plan manager / company as I am not interested in attempting to make my own investments.
Pension providers do not manage your pension for you.
However workplace pensions normally have a default investment fund, where your money goes if you do not make any active choices.
Alternatively you can pay an independent financial advisor, but with your level of funds this would prove expensive, even if you could get one interested.I have read through as much as i am able to digest on this forum, yes. That includes spending time on the moneysavingexpert website.The independent advisor who manages our savings has indicated that he is able to offer advice for a small fee, as they do work with pensions as well and can provide a service thereafter. I can post anything of interest from this conversation back in here once complete.0
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