ISAs v Pensions: The Official Retirement Debate

but what about the huge admin costs that I hear can wipe up to 50% off your investment.

What huge admin costs?

Or is there a cheaper way of investing in a pension or providers whos admin costs aren't so high?

pension charges have never been lower. Indeed, pensions can offer some of the cheapest investment options you can get.

No-one does anything for love. You pay charges on everything. Savings accounts at your bank have charges. You just dont see those as they are implicit. However, with pensions, charges are explicit. You are told about them. Typically, the charges on a modern pension are lower than those on a savings account.

Anyone that suggests you get 50% of your investment wiped doesnt know what they are talking about. They are basically taking 2+2 and making 50.

Simonsays wrote: »

What companies or funds would you recommend?
Thanks,
Simon

I havent got a clue which would be best for you.

There is no one size fits all solution. Each provider has a target market where their product is priced to be competitive. They have different features and options. For example, the pension provider I use is the cheapest on the market for funds for people with about £30,000 or more in value. For those less than that it is expensive. others will have fund based discounts that kick in at different amounts.

Then you have the investments. Are you an active investor, a lazy investor, do you want direct investments or funds. Do you need self balancing funds or do you intend to rebalance and review yourself. Do you want access to more specialist investment areas or just the basic.

To be honest, I would like to put the money away & forget about! But at the sametime I am keen to makesure the investment isn't being eaten away by high charges or the fund isn't performing well. Then if & when I need it I can cash it in i.e. if it's in an ISA or use it as my pension pot for the future in a pension! However you have to take a long term view & like everyone I'm looking for the best longterm return. I am reluctant to use a Finacial Advisor as I feel they rip you off & only choose comapanies that give them the best comossion. However you have to take a long term view & like everyone I'm looking for the best longterm return.
So what do you think?
Any advice on ETF's?[/QUOTE]

Thanks, yes you are right but it's also other peoples comments on good/bad investments they have made for their ISA/Pensions.

Thanks as always all the help that is on offer is very useful.
Pehaps the most prudent thing to do is speak to an FA, pay for the advice up front & get their best opinion. It's just you don't know what a fair price is for the advice given, does anyone have any idea of what a general risk profile/healthcheck should cost? And then how much they can expect to pay for further advice?