I am a Contractor with a Limited Company, I feel that I am missing out on "no brainer" tax savings as I don't have a pension set up via my company. I have contacted my financial advisor department of my accounting company and they have explained the ins & outs of the Pension Plan they are providing but they charge a one-off £500 fee to setup in addition to an Annual Management Charge of 0.65%.
Is this normal?? Can anyone advise if this is competitive or even recommend a better provider??
I have looked at NEST as an alternative (trust rather than shareholders), which do not charge a setup fee? Any experience/advice??
Many thanks in advance!!