Emma | If followed, it can put lives at serious risk. West Midlands | Lucinda | Once you’re into retirement and starting to access your pension pot, then there is a chance there will be further charges to deal with. How do I go about it and can you recommend some reliable companies? Houghton-le-Spring Before going ahead with a pension transfer, we strongly recommend that you undertake a full comparison of the benefits, charges and features offered. It works a bit like income tax bands – each percentage fee applies to different amounts held in the Sipp, rather than a single percentage fee applied your entire pension. 3. The OECD told us they were not the source of the monetary figures, and the ISSA told us the figures didn’t seem to be sourced from them directly. Is it worth using a financial adviser when it comes to switching pensions funds, or should I do the research and pick the funds myself? Do robo advisers have a better return rate? 0. Should I be even thinking about the stock market? 1. I’d like to invest to renovate our house, help fund our children’s education and help them onto the property ladder, and retire as soon as possible! I am still a beginner and would like to keep things simple, but happy to take risk and prepared to leave my investments for a long time. Greater London | However, following the inflation rise of the Lifetime Allowance, it seems the LTA is now at £1,030,000. Melanie | Beth | I have sat in a number of meetings with accountants and financial advisers feeling somewhat patronised! 05/04/2019 | If so, is it therefore a no-brainer to transfer my pension to an online managed pension or is it not quite as simple as that? Are you aware of a peer-to-peer site that could assist? I have no debts or dependants. 27/02/2019 | Today, you have the opportunity to help save lives. I'm also confused about using a platform for a Stocks and Shares ISA. Sarah | quotes, Get Lincolnshire | She would like to invest it and draw income that would be slightly higher than the natural yield - say around £2,000. Now that I am in monthly drawdown, I'm interested in exploring alternative providers to lessen the charges, since future returns look like being lower than they have been in the past. 8. Wilson | However, you can ‘top up’ the allowance with any unused allowance from the last three years. 12/02/2018 | As I have less than £5,000 per annum income I am a bit confused about how much I can put into a pension. When done correctly, this comparison will often demonstrate that the switch will result in the client incurring higher charges overall than staying in the existing plans. UK | I'm 46 . Bedfordshire | Are there better options? The company is also offering free independent advice. I'm thinking of moving into a drawdown SIPP, taking my 25% and leaving the rest invested until I need a regular income in my mid 60s. The Government’s Pension Wise service offers free, impartial guidance to help you understand your options at retirement. rates, Get Norfolk | 18/11/2017 | I am looking for a SIPP with low charges and which is easy to set up & run, as I am 75 now and keep forgetting I have dementia. 07/09/2017 | Or consolidate them? Some providers make a charge at the outset for getting your pension set up. 29/07/2020 | UK | The defining feature of SIPPs is that they allow you to choose a really wide range of investments. But compounding also applies to the fees we pay. In contrast, charges levied by Succession Wealth, the UK’s leading independent wealth management and financial planning business, could total about £815,000. • Are sustainable funds higher risk and more volatile? I have a sizeable fund portfolio under an ISA wrapper with Hargreaves Lansdown. AJ Bell Investcentre stands out as a steep option for small pots, levying charges of 0.68% on pots of £50,000, though this does fall notably as the pot gets bigger, from 0.52% for £75,000 pots to 0.2% for pots of £500,000. I am not paying into a pension at the moment but have £125,000 in my pension pot, and have fairly substantial money in Stocks and Shares ISAs. We'd prefer to keep our ISA with a managed service, such as the one offered by Click and Invest, but will consider the DIY option if that proves to be the best on offer. 21/05/2019 | We opened over 20 investment accounts to compare performance after all charges. Do they track an index or include the yield? SIPPS have the potential for a few extra fees as you may have to pay for the various transactions you’ll make when investing your pension. Please help me. What funds with equities that have a China focus are out there on the market? Gocompare.com Limited is authorised and regulated by the Financial Conduct Authority (FCA) for insurance mediation activity under firm reference number 465053. I am not expecting you to tell me where and when to invest but simply what to read, and I guess I really would like to know how you became an expert, where did you start? I noted in January 2019, that a letter had been sent just under 3 years previously, advising that this was not the best place for their money. Rob | Compare SIPPs on loveMONEY (capital at risk). I am already paying the maximum into a Junior ISA. Simon | My wife needs to set up a SIPP with a good value, low cost, low maintenance underlying investment portfolio. How can I compare the performance of different tracker funds (e.g. The Ombudsman's decision can be read here. I am 61 in April and would like to finish work at that point. UK | I am tempted by the Vanguard LifeStrategy 80 due to the low fees and strong reputation. It now seems pointless applying for Individual protection 2016. Boring Money’s analysis found that those with a sizeable pension who choose the DIY route could expect charges from 0.5 per cent a year (all passive investments, and taking regular income payments) to 1.25 per cent (actively managed funds and slightly less predictable withdrawals). 14/01/2019 | Do IFAs normally bring sufficient benefit to low risk strategies, to make it worthwhile? Any advice for two young people trying to get themselves a home? 01/01/2018 | I don’t want to retire yet, just enjoy life more, Pension consolidation: your questions answered, Bring your pensions together in a Self-Invested Personal Pension. Should I go with a Stocks and Shares ISA or a Robo Advisor, or both? I am considering changing these to Vanguard, but I am unsure if transferring across providers is a simple process. Derbyshire | MiFID II PROD rules require firms to ensure products and funds are matched to the the right 'target market' clients. What’s the cheapest way to do this via an ISA? Meaning that when Hargreaves Lansdown as a whole falls, my investment is worth less? 1. I would like to do this online and to be able to save money on fees. Henryk | Are yours? What can I do with the cash in the meantime? 2. SIPPs are often managed entirely online and are available through investment supermarkets and other platforms. Any advice would be appreciated! But another concern is the charges that you’ll face for having the drawdown option. Some comparative figures can give the impression that UK pensioners are considerably worse off in retirement than those in other advanced economies. You’ll usually have only a few different funds to choose from, so you can opt for higher risk with hopefully higher returns, or lower risk, with smaller but more likely returns. 10/07/2018 | 1. My investments have done reasonably well, but I've read disturbing reports about St James's Place. 16/04/2019 | For the last 12 years I have not contributed to a pension. Malti | UK pensions are relatively low on this measure as well. Lisle | 25/03/2019 | Mark | I often find that my monthly salary is spent on things I don't need or just saved up; without accumulating much. 0. I am in my mid 20s & earning a regular salary. I have an ISA with them and seem to have a choice of transferring the ISA to another company "as is" or liquidating and reinvesting. I am happy with my portfolio and coverage, but wonder if I have too many funds. But pensions in both the UK and Germany tend to get top-ups from voluntary pensions, which pushes their ratios to 62% for the UK and 65% for Germany when included (with the other countries staying the same). balance transfer cards, Compare dual 2. My parents (father since died) put money into Halifax 'Money Fund'. Maggie, Maggie | optic broaband deals, Compare public Thank you! When doing any replacement business, including Pension Switches, a costs and features comparison must be done. Staffordshire | 2) Open Share trading/dealing account. My girlfriend and I are saving for a house together. For one to go active and the other passive approach? Why are these figures so different? If you are in any doubt whether or not a pension transfer is suitable for your circumstances, we strongly recommend that you seek advice from an authorised financial adviser. 26/11/2018 | 23/08/2018 | London | 25/04/2019 | Norfolk | Essex | Norfolk | My Fundsmith accumulation Class 1 investment fund has done well over the last 5 years, and its share price today is just about the highest it's ever been. I have decent savings and am toying with the idea of Wahed Invest (I am looking for shariah compliant funds). 1. Helen | Steve | I am now 44 and know I need to put money into one. My wife is requesting that I pay child maintenance, child care and school expenses. Berkshire | What should I do? We’ve written about this issue is more detail here. 21/05/2019 | Zara | Do I need to use an Investment Trust for my ISA? Can you recommend some very basic books for a 69-year-old widow who is now having to manage her money? • Retired, am I too old for sustainable investing? broaband deals, Compare public But it can’t be the only consideration here. I have opened my first Stocks and Shares ISA, and have a company pension on the new standard 5%/3% contributions. John | Devon | Issued by Financial Administrative Services Limited, authorised and regulated by the Financial Conduct Authority. We have decided to start savings plans for their futures. And do you have any advice about how to compare the "socially responsible" criteria on the different funds? Am I right in thinking I can only contribute to one Stocks & Shares ISA at a time in my name? View the original article at fidelity.co.uk. South Yorkshire | I'm contributing to my workplace pension and into a Cash LISA. 0, Hi, I've got an old D.B. Guy | Compared to these other countries, the UK state pension is essentially a flat rate with the exact amount dependent on years of contributions and age. Heading into retirement Let’s start by looking at how the various providers compare … I am a beginner investor and would like to invest in a "socially responsible" Stocks & Shares ISA. I have a delightful 12 year old daughter and she has just opened her first bank account.
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