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Discussion Starter #1
Just started my new job and they offer to pay so much into a pension for me. I will pay a bit into it myself and then some more as i start earning more.

prob talking say £100 a month ish at first.

Just wondering if people have any advice as for what to go for? Not got a pension at all at the moment and am 24.

any advice appreciated
:)
 

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If Labour get re-elected then don't bother to pay any of your own money into the pension. Simply save up the money and buy property as quickly as you can :)
 

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Discussion Starter #3
everyones saying that but my work pay into one for me so may as well take that hehe
 

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It's probably a Money Purchase Scheme- your Company pays x% of your salary and you probably pay a similar amount. You will get to choose how the money is invested and you will receive tax relief on the cont's.

As you say, the Company is paying something for nothing so it's definitely worth joining. Even if you leave the Company you will still be able to keep the money invested (usually will receive a refund of your own cont's if you leave within 2 yrs) or transfer it to your new employer's pension scheme.

I would say go for it. If you need more info ask for the Scheme booklet- this should help and it will give you more info on the all benefits (eg life insurance etc)
 

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The Pension Transformation Project will be just that, allowing you to buy property with your pension - so everybody wins.

And when the buy-to-let market becomes absolutely saturated I'll start creaming off properties left, right and centre. :p (at that point i'll vote conservative).
 

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Have a look at Hargreaves Lansdown's Vantage SIPP - you should be eligible as long as your employer does not have a company scheme. Very low charges, can pay in regularly or in lump sums and there is some sense in the "earlier you start the better" in respect of pensions. The only disadvantage is that HL will not offer direct advice as to which of the many hundreds of unit trusts etc you invest in so you have to do a bit of research - they do however produce a lot of advisory literature.
Oh - and by the way I neither work for HL nor do I work in the business!
 
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