Who do you have your pension with?

[TeeCee]

I have had a very basic pensio on the go since I was 18, just collecting my NI contribiutions and that's with Norwich Union.

I want to start a serious pension now and want DP to do the same.

Where do I start?
Whose is yours with?

Can't beeeelieeeve this hasn't had at least 47 responses so far!

I have an NU pension too (staff one!). It's a standard stakeholder one, I think that's all that's available these days. Is/was yours set up through your job? If so, you should have an Independant Financial Adviser (IFA) you can contact. Or ring up NU call centre (good luck with that, they're very good at sending you round the houses!), or write to NU direct, probably quicker than call centre!! If you decide to look at transferring the money to a new pension, check the difference between the fund value and the transfer value, my dp and lost a few quid!! hth!!

Thanks RedClover.
Mine may have been set up via my job when I was 18 (too long ago to remember) but it isn't now. It's just a standard stakeholder one. I'm happy to keep that going and just leave it alone. I can't contribute anymore to it though so was going to set up another seperate pension altogehter and am getting Dp to do the same. NU are sending me forms but I wondered if there was another company that people would advise we have out pensions with over NU?

I think you should get some general advice as each pension is so different depending on your cicumstances and when you take it out (how long you'lll need to put £ in)

You will have to do some reading I guess. One thing is for sure, its never too late to start one. pension advice gov. website

Thank you for that.
So you think we should see an independant financial advisor?

your employer pension scheme is normally your best bet as they will make some contributions as well as you if they're a half decent company.

I work for 1 guy, it's me, him and someone who work 1 day a week, from home. We don't have a company scheme, not an option for me I'm afraid.

ah. maybe for dp though? what's the set up with the norwich union one then?

Hi Teecee, your best bet is to see an Independent Financial Adviser. They should have software that they can put your details into and it will list the companies available to you in order of which will be best for you (based on the information you have given the IFA, such as your attitude to risk etc) they should then obtain quotes from the three best companies and compare projections to retirement age, charges and fund choice available. In my opinion personal pensions are better than stakeholders as stakeholders have lower charges, but not very good fund selection and it is the growth of the funds that increase the amount of your pension so having access to good funds is worth the extra in charges. A good Independent Financial Adviser should keep an eye on the funds for you on a regular basis and can arrange fund switches if necessary (if a particular fund is doing not as well as expected or if a fund is doing well switch you into it). If you find a financial adviser who does an initial meeting free of charge and takes commission from the company you take your pension out with, it won't cost you anything (but they should give you the option of paying a fee rather than them taking commission). Gone on a bit there, but if you need any further info let me know.

Thanks for that. A fun Saturday morning in store for us soon then!