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Author Topic: Anybody has any info on private pension plans?  (Read 1562 times)

ana30

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Anybody has any info on private pension plans?
« on: 07 May 2012, 12:22:46 am »
I'm not talking about the taxes we pay every year and how that turns into your "retirement pension" when you grow old  (which is going to be pretty low for us due to the recent government cuts) so I'm think it in supplementing it with a private pension. I've always been cautious of investing money on "great ideas" that I've been offered in the past because I'm not the most business savy person lol and don't want to risk loosing my savings. So I'm considering "putting that money aside" starting a private pension plan. I've been gathering info and doing my "homework" (most of the banks offer different deals) but I'm always afraid of getting scammed. I wanted to know the pros and cons and if anybody here could reccomend me one or give me some feedback or has any experience with them.

(I know, it's a very boring subject but private pension plans are mostly taken by individuals who work for themselves and independent contractors in general so I thought the forum would be a good place to ask :-) You can PM if you don't want to make the info public.

thanx
Ana
« Last Edit: 15 October 2018, 09:14:35 pm by Ana30 »
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amy

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Re: Anybody has any info on private pension plans?
« Reply #1 on: 07 May 2012, 12:38:43 am »
I have a Stakeholder pension, but wouldn't know the first ting about the nuts and bolts of it in terms of advice and I really think you need to speak to an Independent Financial Advisor - there may well be one or two on here, but otherwise we're probably not the best people to ask.

I would say that the first thing you need to do is sort an ISA out if you haven't already - you can put away ?11,280 (half each in a cash/stocks and shares ISA) away tax free and that's a far bigger priority than the pension for me at least.
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neutralC

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Re: Anybody has any info on private pension plans?
« Reply #2 on: 15 October 2018, 08:43:36 pm »
bump
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Ellie B

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Re: Anybody has any info on private pension plans?
« Reply #3 on: 15 October 2018, 09:08:15 pm »
I would speak to your bank.
Not sure about trusting independent financial advisors.

ISAs are great but may not be enough to rely on when you retire
 
tbh  not all of us make enough money to put some away for a rainy day after paying for bills/mortgage/rent/car/tax and NI!
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Kay

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Re: Anybody has any info on private pension plans?
« Reply #4 on: 15 October 2018, 09:15:08 pm »
The point about ISAs is that they're tax free, so they may not make your fortune, but you won't lose any money, either.

I would second going to see an IFA - just research and find a good one.

I'm very sceptical about pension plans. Although Brexit may have an effect, perhaps a big one, on house prices, if I had any money to invest it would be in decent properties.
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amy

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Re: Anybody has any info on private pension plans?
« Reply #5 on: 15 October 2018, 11:52:35 pm »
Indeed. Since people have taken the time to answer I won't remove the 'bump' post that's whacked a six and a half year old thread to the top but for the record, if you have nothing of use or interest to post and decide to go ahead anyway it will be removed.

Even four or five words shouldn't be beyond the grasp of most people if for no reason other than manners and common bloody courtesy. Locked.
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