Pension or alternative?

[Dan_1981]

Evening All,

After a bit of advice from you financial bods.....

Company at work with at the moment doesn't offer a pension scheme that it contributes to - its willing to reccomend a pension service (as i belive it has too?) but thats about it....

Have paid into two seperate pensions with two previous companies but both for very short periods of time (prob circa a year tops)

So what should i do?

Set up a personnel pension? - i presume i need an IFA to help me here?

or is there an alternative for me?

Cheers

Dan

[davemac250]

Of course there are alternatives.

Property?

Direct investments?

ISA's?

The point is a pension attracts decent tax benefits.

Regarding your previous pensions check they actually exist - many company schemes are forfeit if you leave within 2 years. Some private pensions will forfeit if not enough goes in to bear the charges.

Talking to an IFA is a good idea. Just do your checking beforehand.

Dependant on where you are in the UK I have some contacts who have always served myself and the clients I have introduced to them well.

[Dan_1981]

I'm in Sheffield Dave if you do have someone you can recommend?

[Dan_1981]

haworthlloyd1 said:

Dan_1981 said:

I'm in Sheffield Dave if you do have someone you can recommend?

im in huddersfield.

are you a higher rate taxpayer?
how old are you? I take it you were born in 1981?

cheers

Edited by haworthlloyd1 on Thursday 3rd September 16:52

Yeah - 1981 - I'm 27.

Not a higher level tax payer.

[Dan_1981]

Thanks for all of that.

I was under the impression that I might not be getting much from a pension - especially with being a lower rate tax payer and also the lack of company contributions.....

I don't intend to be with the current company for ever (or remain a lower level tax payer) so a future pension is a possibility i guess.

How do stocks and share ISA's work, i've had a quick google and a look on the regular bank sites etc.