Low Cost UK Pension
March 17, 2010 4:30 PM
Does anyone know of or have a UK Pension which has low annual fees?
I have a couple of stakeholder pensions which I would like to consolidate into one (total about £20k), they both have annual fees in the region of 1.5%. I would like that to be a lot less but am having trouble finding a pension with lower costs.
Can anyone suggest any pensions in the UK which have low fees that preferably also relate to indexes like FTSE or international markets and don't involve costly fund managers?
I am just under 30 and do not intend to fiddle with the pension once I get it set up. Any suggestions on what is available which won't cost me £100s in fees each year and thousands over the decades I will be leaving it for?
I did find the FSA website and it showed London Victoria pensions as being the cheapest to run. Their website wasn't very informative but I will be getting in touch with them to get further information. I was hoping for some alternatives or further suggestions as currently they are the only feasible option I have found.
If I can't find any answers myself or with the assistance of the hive mind I will consult a financial advisor - any suggestions for one in the south of England?
I previously asked a question about ETF''s, I was thinking a SIPP with Hargreaves Lansdown was a good idea at the time. This was until I realised that they had a 0.5% fee plus any fees that the ETF had - that worked out at over 1% a year which was not what I was hoping for!
Any advice would be most appreciated.
I have a couple of stakeholder pensions which I would like to consolidate into one (total about £20k), they both have annual fees in the region of 1.5%. I would like that to be a lot less but am having trouble finding a pension with lower costs.
Can anyone suggest any pensions in the UK which have low fees that preferably also relate to indexes like FTSE or international markets and don't involve costly fund managers?
I am just under 30 and do not intend to fiddle with the pension once I get it set up. Any suggestions on what is available which won't cost me £100s in fees each year and thousands over the decades I will be leaving it for?
I did find the FSA website and it showed London Victoria pensions as being the cheapest to run. Their website wasn't very informative but I will be getting in touch with them to get further information. I was hoping for some alternatives or further suggestions as currently they are the only feasible option I have found.
If I can't find any answers myself or with the assistance of the hive mind I will consult a financial advisor - any suggestions for one in the south of England?
I previously asked a question about ETF''s, I was thinking a SIPP with Hargreaves Lansdown was a good idea at the time. This was until I realised that they had a 0.5% fee plus any fees that the ETF had - that worked out at over 1% a year which was not what I was hoping for!
Any advice would be most appreciated.
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However, if you're not going to be paying a fund manager you are really going to have to do all your own thinking (throughout the lifetime of your pension) about what's best to invest in. You don't just want what's cheap or what strangers on the internet like today.
Also note that some financial advisors work on a commission basis (but you can ask them to work for a fixed fee).
posted by emilyw at 5:01 PM on March 17, 2010