Pension advice

jethro

Hi all, just after some quick advice.

By way of background I am 27 years of age with no type of pension as of yet. I'm planning on contributing £100 every month to a personal pension.

I saw an IFA and he has given me a fund recommendation with Clerical Medical. The commission he will be getting is about £500 which I take it is paid for out of deductions. Is this a reasonable charge?? Or would I be better off going for a SIPP?

Thanks

jethro

anyone ???

dunstonh

I saw an IFA and he has given me a fund recommendation with Clerical Medical. The commission he will be getting is about £500 which I take it is paid for out of deductions. Is this a reasonable charge?? Or would I be better off going for a SIPP?

Commission is fine.

A SIPP will be more expensive than Clerical Medicals Stakeholder. They have a fairly good Personal pension too with a range of internal and external funds which can price up lower than a SIPP (assuming you would be using the SIPP for funds).

Why are you asking us if you want a SIPP and not the IFA? The IFA has factfinded you and based on your discussions has felt that a SIPP isnt suitable for you. What is it about a SIPP that you feel you may be better with?