Pensions

[DLI]

i know its a really boring subject but i looking into starting up a pension, never bothered before but am starting i should. not going to put much into it (about £30-£40 per month)and think its going to have to be a stakeholder pension from what i can gather.

just wondering those who have pensions who's your pension with? and would you recommend them?

Different pension providers have different funds on offer to invest in and some perform better or worse. Obviously past performance cannot really be used as a guide to future performance and your investments may go up or down.

Also the Companies financial strength is important as well. Thinking back to the bank crisis etc. You need to know your money will be safe.

There has also been a lot of changes in pensions in the last few years due to pension simplification. So the charges have all changed on pensions etc. So a Stakeholder may not be the best option for you now. Also you are no longer expected to buy an annuity at age 65 (or your pensions retired age) now, there are other choices.

I think you need to see a financial advisor tbh. As then they can prepare illustrations for you with different companies showing what you'd get at retirement on contributing £30 a month etc and they can go through investment funds with you etc based on your attitude to risk.

Yes they do get commission on the product they sell you, but they do have to tell you exactly how much that is. It's also on the last page of the illustration.