New to contracting and want to set up a pension

[IT_BOY]

Oh thank you

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.

[ASB]

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.

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.

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

[adubya]

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

[MarillionFan]

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.

[adubya]

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.

[MarillionFan]

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.

[Fred Bloggs]

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.

[doodab]

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.

[IT_BOY]

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