chrissiet
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How can I beat high pension charges?
- chrissiet asked 1 year ago in Investments
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Expert Financial Adviser Answer
Paul Ross DipPFS CII(MP&ER)
answered 1 year ago
Generically, then you can't do much better han a stakeholder pension. But not all give you good value for money.
The best route for you to take is to seek advice from an Independent Financial Adviser because there are several factors to take into account such as what are they charging for, your attitude to risk and fund choice and you really need advice on this. Feel free to talk to me about this and I will be able to give you some pointers about this area.
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The best route for you to take is to seek advice from an Independent Financial Adviser because there are several factors to take into account such as what are they charging for, your attitude to risk and fund choice and you really need advice on this. Feel free to talk to me about this and I will be able to give you some pointers about this area.
Can I use my personal pension plan to pay debts?
- chrissiet asked 1 year ago in Debt
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Do pension plans still charge front end fees?
- chrissiet asked 1 year ago in Investments
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Expert Financial Adviser Answer
Paul Ross DipPFS CII(MP&ER)
answered 1 year ago
As David and Darren have mentioned, these are effectively a thing of the past, "mosting pre 2001 plans", and most pension providers will probably increase the annual management charges by a small margin for the first 5 years to pay for advice given.
I have seen some shocking plans where there has been a 5% charge everytime you pay a contribution, policy fees, annual management fees, fees for switching and one provider charges a marketing fee (???) - a very strange one.
However, as mentioned, in 2001, things became simpler with the birth of stakeholder pensions and every provider had to drive down costs to compete in the market and satisfy the regulator
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I have seen some shocking plans where there has been a 5% charge everytime you pay a contribution, policy fees, annual management fees, fees for switching and one provider charges a marketing fee (???) - a very strange one.
However, as mentioned, in 2001, things became simpler with the birth of stakeholder pensions and every provider had to drive down costs to compete in the market and satisfy the regulator
Why is Barclays closing its financial planning group and how will it impact its customers?
- chrissiet asked 1 year ago in Investments
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Expert Financial Adviser Answer
Paul Ross DipPFS CII(MP&ER)
answered 1 year ago
It's all about profit and loss and the costs of having a financial services arm is very expensive. Levys to support the FCSC (Financial Compensation Scheme) are shooting up and I suspect that their levy will be higher than most, given the recent fine imposed on them.
However, it is difficult to say whether your policy is okay or not, given that there are no details on it. However, I suspect it is fine as Barclays do offer some very good products. Give me a call or email me directly if you want a more, no obligation, detailed decision
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However, it is difficult to say whether your policy is okay or not, given that there are no details on it. However, I suspect it is fine as Barclays do offer some very good products. Give me a call or email me directly if you want a more, no obligation, detailed decision
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