WHAT is the best pension choice??? SIPP,NEST, hELP

[imiami]

WHAT is the best pension choice??? SIPP,NEST, hELP
are SIPPs risky in the current financial climate? Are there any pensions that are like fixed deposits, guaranteeing returns regardless of economic conditions?
Thanks

It's not so much the provider but the finds you choose. You should look for a provider with as low a fee as possible and then choose your funds to invest in according to your appetite to risk.
The type of pensions that would be a guaranteed return would be defined benefit. These are practically non existent outside of the public sector now.

I’ve not heard great things about NEST because of fees etc but as PP says, it’s about the funds really.

NEST Pensions are for employers and the self employed. Not sure you can take one out independently. The fees are on the high side, I think.

If you're employed, then your work pension is the place to start - employer contributions, and payments may be made before NI as well as before tax.

Next best is a low-fee SIPP. Most have a risk calculator to help you choose finds that suit you, and many also have specific pension funds that reduce risk as you approach retirement age.

Or you can still get old-style private pensions through companies like Aviva or Scottish Widows. The fees are little higher but they give you more help setting it up.

I've got a SIPP with Scottish Widows. I put £10k in per year over last 4 years and it's now got £65,400 in it. I picked mostly oil so Chevron, Esso, BP, Total Energies, and a few smaller ones. It was as high as £68,800 before Iran war. When it hits £70k I'm putting it into an annuity and starting another one from scratch.

If you withdraw the lot in one year (especially if you're still earning, as I assume you are to be paying that much in), won't you take a substantial tax hit?

I’ve moved my pension from Nest to Vanguard to Interactive investor - in the search for lower fees and more choice of investments. I’m sitting with interactive investor for the moment for two reasons - I’m a company director and they allow me to pay in cash from my company - not all Sipp providers allow for this
I moved from Vanguard, because given the value of my pension and despite them being known as low cost their platform fees were too high and they only allowed you to buy Vanguard Funds which are not the cheapest either - I saved quite a bit from the move.
You need to know what you want and what you need. Go to AI and ask what questions do I need to answer before I chose a pension provider? It’s a good start.

BlackRock and Vanguard both do low cost target date funds aimed at retirement savings. Choose a low cost SIPP provider and the funds that best matches your retirement date. SIPPs don't usually allow employer contributions unless you are a director.

I think Interactive Investor allow company’s to pay into your Sipp - there was an option for them to claim the gov contribution on their form - so I don’t think you have to be a director.

Company contributions don’t get tax relief via the pension. Companies get relief from corporation tax and (for the moment) NI.

as PPs said, low fee SIPP . Then choose funds according to your risk profile.

read a few books to educate yourself before you start - Tim Hale Smarter Investing is excellent, as is I will teach you to be rich by ramit sethi.