Increase contributions to Nest pension or open Vanguard Sipp?

[Cloverforever]

I have a Nest pension through work but can't find up-to-date tables of how it is doing. Does anybody know where I can find these or how they do generally?

I want to increase my contributions but not sure the best place for it. Thanks

You should be able to get the details from work? At least the pension provider details and you might have to contact them yourself for performance details etc.

Vanguard sipp would be good if you want to choose how your money is invested.

Thanks but I already have the pension provider details, it's the performance details I was after. Most other companies have them online but I can't fine them on the nest website.

I have an Isa with vanguard but I was hoping to compare returns?

They have quarterly factsheets:

www.nestpensions.org.uk/schemeweb/nest/aboutnest/investment-approach/other-fund-choices/fund-factsheets.html

They should give you what you need

Thanks 😊

Which fund are you in with Nest? Their algorithm may have put you in a lower risk and therefore lower growth fund to start with.

Meaningful Money podcast is v good and there is definitely one on Nest could be worth a listen.

I'd rather not say which fund as it gives my age away (paranoid much? [Wink] but appreciate the reason for asking. Its a shame Nest dont make it easier to compare how it's doing.

I shall have a listen to the podcast suggested, thanks.

totally understand. No need to share here but probably worth checking whatever they’ve put you in fits with your preferred risk profile.

I started a Nest pension a few years ago. Primarily as an adjunct to an old work defined benefit scheme and a longer running ongoing personal pension through my bank. Mainly putting eggs in other baskets for peace of mind.

I've always found getting the performance information difficult to impossible in my old and new schemes. Even when you do track down a webpage that purportedly tells you what you need to know, you often have limited ability to understand the info, feel like you are comparing apples and oranges and then can't find the same info when you look again some time later.

Just now I've checked the link from upthread, noticed the amazing performance of the SHARIA fund and wondered how do I harness some of that? Then spent 5 minutes going round in circles on the Nest website trying to look at how I could change my fund if I wanted to, and drew a blank!

So to diversify further I then started up another pension with Vanguard as I had heard and read good things about them. Perhaps I have fingers in too many pies now.

Neither my Nest or Vanguard pensions will catch up to my earlier pensions but at least there is some transparency even if I don't fully understand all the graphs, tables, returns, percentages etc

I'm also getting my kids involved early. Hopefully giving them the benefit of what little knowledge I have gleaned.

If you make extra contributions to Nest using salary sacrifice via your employer you will save both national insurance and tax.
It is my understanding Vanguard do not accept payments directly from employers , you will pay your own contributions and vanguard will claim the tax from HMRC hence no Reduction in NI.

@Alwayscheerful

If you make extra contributions to Nest using salary sacrifice via your employer you will save both national insurance and tax. It is my understanding Vanguard do not accept payments directly from employers , you will pay your own contributions and vanguard will claim the tax from HMRC hence no Reduction in NI.

Thanks Always cheerful, that's useful to know.

I Use Www.trustnet.com to compare performance. It's free to register and used by the general public and also by financial advisers.

Check if you get any matching from your employer. They might match your contribution or split the saving on employer NI.

That might make it better than paying into a Sipp. Likewise, you should also make sure you’re getting higher rate relief if over the higher rate tax threshold. Most Sipps you’ll get 20% (basic rate) and then need to claim the rest from hmrc.

You could still open a vanguard sipp anyway and use it to consolidate your workplace pots every few years