Pension advice?

[sjk999]

I have just moved into the contracting world from permanent.
My old company used to contribute to my pension but now i have left them I have to move it to my own pension scheme or risk losing it.

The thing is i have no idea on pensions - anyone been in similar position and can offer any tips?

[northernladuk]

Advice 1
Go have a look at the front page of this very site and see what is there... Hint.. Link is titled contractor pension

Advice 2
Go look at the Welcome section and in particular the thread about how to search CUK forums. The link is below to help you. Use it to look up pensions.

http://forums.contractoruk.com/welco...uk-forums.html

Advice number 3 (General advice)

Have a look at the newbie guides to the right --->
Everything you can think to ask at this point is in there as well as many things you didn't know. If you can't find it, try the search as mentioned above. Anything you can think of at this stage has probably been asked many many times.

Thank you.

[Maslins]

If you need something set up you'll need to either speak to:
1) an IFA, who should be entirely independent and offer advice across the whole of the market but will charge a fee, or
2) your bank, who probably won't charge, and will probably avoid giving advice of any kind, they'll just show you their available products for you to choose from.

[Waldorf]

I no longer invest in pensions, the fact that various governments have fiddled with them, the tax relief is at risk, although the maximum amount has just been cut, I expect that at some point the tax relief will be restricted to 20% in the future. The annuity model is not attractive etc .

I invest fully in an ISA each year and reinvest the income and will use this for my retirement funding. The income is tax free and I have full access to the funds and my estate after I have gone.

[worzelGummidge]

You takes your money and choose your preferred tax method

Pensions via company contribution: Tax free going in and taxed on exit.
ISA via personal account: Taxed going in and tax free on exit.
ISA via company: Tax free going in and tax free on exit - but your in the clink.

[EMEAfixer]

... I have full access to the funds and my estate after I have gone.

And folks used to say you couldn't take it with you! I want one of those too.

[IR35 Avoider]

I chose Sippdeal to hold my pension investments as they were the cheapest. There's lots of information on SIPPS on their web-site.

SIPPs explained | What is a SIPP | Sippdeal

A SIPP is a personal pension with more investment options than the typical personal pension an insurance company might offer.