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Pension - where to start?

  • 13-11-2019 4:16pm
    #1
    Steve004
    Registered Users, Registered Users 2 Posts: 1 ✭


    Hi,

    I'm in my late 20s, self employed and not currently part of a pension scheme. I know that I need to get this sorted, but I just don't know where to start. What's my best course of action?

    I know that different banks offer different schemes. I'm guessing that I can't really go far wrong by booking an appointment with my own bank? Or should I speak with an advisor to find the best scheme.

    Just not sure if there's a big difference between the different schemes or if they're much of a muchness.

    Thanks.


Comments

  • #2
    Static M.e.
    Registered Users, Registered Users 2 Posts: 3,093 ✭✭✭Static M.e.


    Yeah, I would definitely get advice and I would not speak to my bank. I'm not sure who the best person would be but there are a lot of people on AAM who speak about pensions that I would trust. I would start there. Sorry, I can't be of more help.


  • #3
    jonnybravo
    Registered Users, Registered Users 2 Posts: 586 ✭✭✭jonnybravo


    Static M.e. wrote: »
    Yeah, I would definitely get advice and I would not speak to my bank. I'm not sure who the best person would be but there are a lot of people on AAM who speak about pensions that I would trust. I would start there. Sorry, I can't be of more help.


    I'd agree with this. Look up AAM (askaboutmoney) and there's great advice there. There's a massive amount of options out there in relation to pensions and the charges some advisers / banks / pension companies charge can eat a big hole into your fund. Paying for pension advice could be the best money you spend.


  • #4
    Sir Galahad
    Registered Users, Registered Users 2 Posts: 765 ✭✭✭Sir Galahad


    Do you have a broker presently ? If not then maybe this is the time to look for an indepdent advisor. Forget the banks. They are all tied (only sell for one supplier). You have a choice, you can pay commission to the broker or you can pay a fee for his/her advice. The fee is paid upfront by you (if you choose that route) or commission is taken from the premium and paid to the broker if you go that route. You are young and Pensions are long term plans so don't get hung up on a fee based advisor. Ask around, look for a referral from a friend for a broker. If you can't find one then message me (I was a broker for 35 years) as I still know a few good ones.


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