pension arrangements for husband & wife

Topov_3

Times are hard.

dunstonh

Can anyone suggest a good pension supplier that offers a decent range of funds and reasonable charges?

Wish it was that easy. I do about 300 pensions a year and use a spread of around 6 nowadays. There is no one best option as it depends on your age (or term to commencement), the amounts and where you want it invested.

EdInvestor

The Scottish Widows personal pension has a good array of fund choices and reasonably low charges and will behave like a traditional pension.

Alternatively a SIPP at Hargreaves Landsdown will probably work out at about the same price for much the same funds, but will be a lot more interactive from the investment and online point of view and might teach you quite a lot of useful stuff about investing.

https://www.h-l.co.uk

Perhaps try one of each?

dunstonh

HL will work out more expensive on like for like distribution channels (i.e. going execution only with both).

Dick_here

dunstonh wrote: »

it depends ... where you want it invested.

So I tell you where I want it invested, you then 'advise' me to invest it there, and charge me a fee. Is that how it works ?

dunstonh

!!!!!!_here wrote: »

So I tell you where I want it invested, you then 'advise' me to invest it there, and charge me a fee. Is that how it works ?

No.

If you go execution only (i.e. HL or Cavendish) then you say where the funds should be invested.

If you go to a tied agent, the tied agent should work out your risk (typically crudely) and then present the funds that match that risk profile and you pick the fund you want.

If you go to an IFA for advice, the IFA should work out your risk profile and build a portfolio for you to meet that risk profile.

Assuming execution only (as the OP's wording suggests that DIY is the chosen path) the OP will be picking the funds so the decision on best pension will depend on what funds are available to meet the risk profile. Certain pension providers are better geared to lower risk whilst others are higher risk (or the bits in between). The OP may not even want investment funds although that is unlikely as he wouldn't be asking the question if that was the case.

Topov_3

Thanks for the replies. I'll have a look at Scottish Widows, cheers EdInvestor.

(Ive been on holiday since I asked the question, hence the delayed thanks.)

dunstonh

SW is a good personal pension if you have less than 20 years to go until retirement. If you have more than 20 years to go then you can get cheaper and better.

Do not go to LTSB to get the SW product. You will not get the full product range, no portfolio advice and you pay full charges.

dunstonh

I was told by a friend what it would make more sense to start a group pension with both my wife and I as members.

No difference at all. Plus you probably wont find a provider willing to take you on as most have a minimum number of employees (usually 5-10 is the typical minimum).

You are better off with two individual plans with employer contributions.

Topov_3

ok, thanks dunstonh. I'll look into setting up personal pensions. Any idea what sort of amount I should pay into them each month. I was thinking of about £300 but could afford upto 500 each.

I read the ISA v Pension thread and was thinking of following the advice where I put enough in our pensions to get us upto the £10k tax free limit with the full 7.2k in isas for my wife and I.

dunstonh

I read the ISA v Pension thread and was thinking of following the advice where I put enough in our pensions to get us upto the £10k tax free limit with the full 7.2k in isas for my wife and I.

You would have noticed that the method there is what I have suggested a number of times and I stick by it.