I wonder if you could help me with a pensions query. I can work out most things, but pensions defeat me.
I have a company pension scheme and I have a personal pension. I have paid nothing into either for a few years but want to start paying again.
At one time I was advised a personal pension was better; at another time I was advised a company pension was better. Between that advice and the duff mortgage advice I had, I no longer trust IFAs.
My question is: as a contractor, should I pay into one, the other or both?
Or is it not as simple as that?
(Ltd. co, age: mid 40s, salary £5250 rest as dividends, can afford £200 per month from the company at the moment, wife earning roughly minimum wage)
I have a company pension scheme and I have a personal pension. I have paid nothing into either for a few years but want to start paying again.
At one time I was advised a personal pension was better; at another time I was advised a company pension was better. Between that advice and the duff mortgage advice I had, I no longer trust IFAs.
My question is: as a contractor, should I pay into one, the other or both?
Or is it not as simple as that?
(Ltd. co, age: mid 40s, salary £5250 rest as dividends, can afford £200 per month from the company at the moment, wife earning roughly minimum wage)
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