Pensions

Martynt74

Martynt74

Martynt74

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Joined
20 Feb 2004
Posts
24,232
Location
La Romana, Spain
At the moment i've got an old workplace pension with Aegon. I've not paid into it for a while as i've been self employed for 18 months and lazy about it.

I'm now wondering whether i'm better sticking the money into a SIPP.

I'm now looking at going back to employed work and wondering if anyone has any experience of workplaces paying into a personal SIPP or whether they have to run side by side with the normal workplace pension?
 
It all depends on the employer and wheather they'll pay into a SIPP instead of their own workplace pension. If you end up with a workplace pension you can set up a SIPP and pay into that seperatly without a problme.

Depending on the fees you're being charged currently and any exit fees it might be worth transfering.


Have a look here and here for platform charge comparison on SIPPs.
 
Thanks fella. I've just accepted a role and have a 3 month probation period before starting the pension so will try and get it all sorted out till then. Otherwise i'll try and sort out transferring them all into one pot.
 
It is quite unlikely that your employer will contribute to your own personal arrangement. It would be payroll hell if everyone asked to do that.

I run a SIPP alongside my employer pension, and you could consider doing something along the lines of what I do, which is contribute to the employer pension for a while and then transfer the balance across to your SIPP. Do check the fees on both carefully though before you do, as well as investment choice. There are some great low cost passive funds in most employee schemes these days, which are perfect for those who just want to save without actively investing.

You can stick your old employer pension from Aegon into your new company scheme if it is defined benefit, most likely, or just transfer it somewhere else such as a SIPP.
 
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