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    Still gathering requirements...


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    Cool New to contracting and want to set up a pension

    Hi Sorry about the lame question. I want to start a pension which is safe with no risks. I have IFA sniffing and calling me like rats.
    Do you guys have a pension plan and what would you recommend . I am thinking of putting the max amount in .

    Thanks kindly

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    Contractor 'til I die

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    I went for a stakeholder pension with low charges which offered a selection of funds and it all goes in an index tracker at the moment.

    You could look into a SIPP.

    Nothing is safe with no risks. Especially in this day and age.
    While you're waiting, read the free novel we sent you. It's a Spanish story about a guy named 'Manual.'

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    Be your own IFA, I use HL my SIPP but there are plenty of other good low cost providers too. Best Invest, Alliance Trust Savings, SIPP Deal etc... Do your own research, all the info is out there. Good luck.

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    crap ex-mod

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    Quote Originally Posted by IT_BOY View Post
    Hi Sorry about the lame question. I want to start a pension which is safe with no risks. I have IFA sniffing and calling me like rats.
    Do you guys have a pension plan and what would you recommend . I am thinking of putting the max amount in .

    Thanks kindly
    A pension plan should consist of a number of different vehicles for the future.

    Definitely use your ISA allowance of 5340 per year 1st.
    Then a SIPP (Have a look at Barclays Stockbrokers) for running your own.
    Also consider getting a managed one set up for you by the likes of an IFA.
    National Saving Bonds (5 year) useful
    Maybe purchasing property/BTL over the years
    And longer term bonds

    When you ask about 'a pension plan' on here we are thinking about lots of different ways to save money all of which makes a plan.
    What happens in General, stays in General.
    You know what they say about assumptions!

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    More time posting than coding


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    Quote Originally Posted by MarillionFan View Post
    A pension plan should consist of a number of different vehicles for the future.

    Definitely use your ISA allowance of 5340 per year 1st.
    That's your cash ISA limit, you can also invest an additional 5340 per year in a stocks and shares ISA.

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    crap ex-mod

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    Quote Originally Posted by adubya View Post
    That's your cash ISA limit, you can also invest an additional 5340 per year in a stocks and shares ISA.
    Of course. More risk involved in that which is why a SIPP(with tax relief) or taking out a pension with one of the bigger boys is advised.

    Difference is (you can't touch a Sipp until age XX(need to look up) but you get 20/40% tax relief(plus tax free gains), while a Stock/Share ISA is more risky(gains are tax free only) but you can take out and lose your tax free status anytime.
    What happens in General, stays in General.
    You know what they say about assumptions!

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    SIPPs aren't necessarily safer than S&S ISA, depends upon your investment choices

  8. #8

    Tanya@SC Lee Accountant Ltd

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    Go with cash ISA first , you need to need to speak to someone who assess the risk you like to take. Of course the more the risk the better the return.


    Quote Originally Posted by adubya View Post
    SIPPs aren't necessarily safer than S&S ISA, depends upon your investment choices

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    ASB
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    Quote Originally Posted by Harry@SC Lee Accountant Ltd View Post
    Go with cash ISA first , you need to need to speak to someone who assess the risk you like to take. Of course the more the risk the better the return.
    potential return.

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    Smile Oh thank you

    Quote Originally Posted by MarillionFan View Post
    A pension plan should consist of a number of different vehicles for the future.

    Definitely use your ISA allowance of 5340 per year 1st.
    Then a SIPP (Have a look at Barclays Stockbrokers) for running your own.
    Also consider getting a managed one set up for you by the likes of an IFA.
    National Saving Bonds (5 year) useful
    Maybe purchasing property/BTL over the years
    And longer term bonds

    When you ask about 'a pension plan' on here we are thinking about lots of different ways to save money all of which makes a plan.
    THIS IS ABSOLUTE MAGIC , I WILL LOOK INTO THIS.

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