Personal pensions

[yoyo]

Has anyone arranged one using a financial advisor and if so what sort of fee did he/she charge? Do you have to pay a fee to the advisor and to the pension company? Find it all so confusing but can't put it off any longer. Have already been notified by tax office about defecit in NI contributions so hope personal pension is the right approach (or should I make up the defecit - gulp?)

Alot don't/shouldn't charge a fee unless they're not taking commission. I would shop around. Ask for recommendations from friends/family.

Most IFA's will not charge you a fee, but will get commission direct from the pension company.

Phone an IFA (personal recommendation is best so ask your friends) and check that they won't charge for an initial consultation - they shouldn't do - so you can't lose.

HTH

Hey Yoyo, the buzz(!!!!!) in the broadsheets is that it is better to make up the deficit, many providers have been sending letters to their clients telling them to opt back into the state pension due to the poor state of the stock market. I guess it is better to spread your eggs!

hope that helps and does not cause too much confusion

I have seen an IFA and he has recommended a stakeholder pension but subsequent info unclear about 1% charge by pension company and commission to IFA. Will check it out again although I think he is fed up with me as I have been prevaricating about this for at least a couple of months.

The problem with making up the defecit is that you have to pay a full year at one time - so 4 lots of £325+. Will have to give it consideration . Have just read the Inland Revenue stuff again and think they have got some facts wrong so need to contact them for clarification tomorrow.

Will scour the money sections on weekend - usually avoid as reviews, travel, weekend, etc. so much more enjoyable and less worrying.

Thanks for input. Much appreciated.