Lloyds pension plan

[Maria831]

Hello,

Unfortunately, I have no clue about all this pension matter, I'm also 41 - a bit old to start saving but better late than never-
Also, I come from Greece, I used to work there for 10 years and I have been working here in UK for the last 6 years,

So I need to have a plan...
Is Lloyd's pension plan a good one?? I currently have a savings account with them so was wondering if ok to go for the pension as well

Thank you!!

A pension is better than no pension, and you can always transfer to another company later. Their fees don't look too bad as a percentage, although the £5/month minimum could be a much higher percentage if you've only got a small amount in there. Something like Vanguard would be cheaper https://www.vanguardinvestor.co.uk/what-we-offer/fees-explained

Do you have the option of a pension through your employer? They are usually better value than private ones

Hello
I have done the Vanguard targeted fund pension scheme
I will DD 300 per month and take 75 more
The annual fee is 0.15% which is very low

My only question is am I covered with all this online documentation I received or I should go to a physical premise to be covered and safe
Also if I have some savings and put them on this pensions plan as more cash will these cash be added on the final pension ?
As I started bit late on my 41 years so I want to make up some time
Does it work that way or not do you know?

Thanks a lot for the advice

Covered in what sense?

You can make additional payments from savings as well as the monthly standing one, yes. Just make sure you stay below the annual limit of £60k or your annual salary, whichever is lower. Note that the allowance includes the tax relief as well as what you pay in.