Self employed pension advice

TGould · 24 March 2017 at 11:46AM

Hi,
I'm self employed (sole trader) and am looking for advice or recommendations of pension providers. I have a NEST pension from my previous employer, should I continue to pay into that or are there better options for sole traders? Any info would be much appreciated!
Thanks

xylophone · 24 March 2017 at 1:46PM

You could consult an IFA.

https://www.moneyadviceservice.org.uk/en/articles/choosing-a-financial-adviser

Or you could try

https://www.cavendishonline.co.uk/pensions/stakeholder-and-personal-pensions/

It may be possible to transfer your NEST pension into your new scheme.

http://www.nestpensions.org.uk/schemeweb/NestWeb/includes/public/docs/Transfers-out-of-NEST,PDF.pdf

Fridaydalek · 24 March 2017 at 4:55PM

I too am a sole trader, but unlike OP don't have a pension. Looking to get one.

I've approached two financial advisors and been quoted £2000 and £1250 for consultation and advice. On top of that, a fraction of the amount invested every year as an ongoing fee for them to manage the scheme.

On that basis, Nest looks like a good deal - no initial fee, meaning I can invest that amount in my fund rather than an IFA's pocket! (No disrespect intended, they've got to earn a living like anyone else, and I'm sure I'd get solid advice from them.)

I've heard a few people say Nest isn't that great, but with my limited knowledge of financial jargon can't quite grasp why. Can anyone spell it out for me in layman's terms?

Self employed pension advice

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free