Pension Providers

[Gordon Ice]

First post so here goes .

Trying in vain to find recommendations for decent pension providers (without falling prey to the evil IFA's of the underworld!) for us good old contractors.

Anyone have any good experiences they'd like to share, including the name of a provider to research further?

Ta

[Craggle]

Pensions

First post so here goes .

Trying in vain to find recommendations for decent pension providers (without falling prey to the evil IFA's of the underworld!) for us good old contractors.

Anyone have any good experiences they'd like to share, including the name of a provider to research further?

Ta

It depends, Do you work through a Ltd company or an Umbrella solution?

[pmeswani]

First post so here goes .

Trying in vain to find recommendations for decent pension providers (without falling prey to the evil IFA's of the underworld!) for us good old contractors.

Anyone have any good experiences they'd like to share, including the name of a provider to research further?

Ta

There are a number of things you will have to consider.

1. Are you happy to take the low-risk option and let someone else manage your pension for you and part with a management fee? If so, you are better off with a Stakeholder Pension. There are plenty around. Can't personally recommend any myself... haven't been in one for a while.

2. Are you happy to take some risk (some low, some medium and possibly some high)? If so, look at a SIPP. Plenty around. SIPP's fall into 2 general categories. Low-cost (Hargreaves Lansdown are just one of them). Others include Investment Properties. (Not that common I believe).

I can't recommend any until you know what type of risk you are prepared to take as well as how much you are prepared to invest (from an employee and an employer point of view - assuming you are a Ltd Company).

As always, speak to an IFA who works on both Commission and Fee based and chose what is best based on your personal circumstances.

[Emigre]

Further questions:

Are you looking at moving an existing fund from one provider to a new one?

Is already out of myco? Have you looked at ISAs? Massive tax advantages over pensions.

[pmeswani]

Further questions:

Are you looking at moving an existing fund from one provider to a new one?

Is already out of myco? Have you looked at ISAs? Massive tax advantages over pensions.

SIPP's add £200 for every £800 deposited (or £250 for every £1000) and invested in the right funds can yield beyond 7% (But as always, this isn't guaranteed). ISA's don't have much benefits these days in terms of interest earned. I would go with SIPP Pensions over ISA's any day... unless there was a significant rate of return.

[FarmerPalmer]

For a simple tracker try Virgin Money, but if you want a choice of funds then try someone like Scottish Equitable.

My secretary has a Virgin Stakeholder Pension
I have a Scottish Equitable Stakeholder Pension.
My business pays directly into both.

[DimPrawn]

For a simple tracker try Virgin Money, but if you want a choice of funds then try someone like Scottish Equitable.

My secretary has a Virgin Stakeholder Pension
I have a Scottish Equitable Stakeholder Pension.
My business pays directly into both.

Yes Virgin Tracker, which has lost 30% of it's value in a quarter as it tracks the FTSE down the pan.

[FarmerPalmer]

Yes Virgin Tracker, which has lost 30% of it's value in a quarter as it tracks the FTSE down the pan.

and as its fallen ... it can now track it all the way back up if you plough some money in now !

[glashIFA@Paramount]

First post so here goes .

Trying in vain to find recommendations for decent pension providers (without falling prey to the evil IFA's of the underworld!) for us good old contractors.

Anyone have any good experiences they'd like to share, including the name of a provider to research further?

Ta

Had LOADS of good experiences but, given that I'm an "evil IFA of the underworld" not much point in sharing them with you as you'd no doubt dismiss them without consideration....or, if I gave you the name of a provider you'd probably avoid it in case i got several thousand ponds in commission just for mentioning them.

[expat]

Yes Virgin Tracker, which has lost 30% of it's value in a quarter as it tracks the FTSE down the pan.

That's right, what we need is a tracker that follows the FTSE upwards, but doesn't follow it downwards