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Independent, no-nonsense ratings and reviews
Eve | 04/04/2018 | 5
Hi, I've got an old D.B. pension, approximate value £12k. I would like to invest & top up each month. Who would you recommend? Also I would like to make an investment, & don't know where to start? Thanks
Hi Eve,
It's often confusing to decide ‘where to start' with pensions and investments.
Starting with your pension:
If you have left the company or are no longer an ‘active' member of the defined benefit pension mentioned, then you would not be able to invest further into it. Defined benefit pensions are generally based on the length of service that you worked for the company and the salary you earned while you worked there. Therefore, once you have left the company, you are no longer in service and cannot continue to build up new pension benefits. The benefits you have built up while working for the firm are effectively ‘deferred' and would normally increase in line with inflation until your company pension retirement date.
If you are still working for the company and the defined benefit pension is still building up benefits for you, you may have the option to buy what is referred to as ‘added years' by contributing more as a lump sum or monthly amount if the pension scheme would allow it. The easiest way to check this is to contact the pension administrators and to ask them if you have the ability to invest further into your pension.
If you are unable to top up the pension and you are unsure of the options available to invest in a pension, you could contact a financial adviser to advise you on the options available.
Similarly, an adviser can help you decide on other investments, help explain terminology and planning that you need to consider before investing. It's often a good process to go through as it helps you consider the longer-term plans for the money and the best place to invest it to suit your plans and goals for the money. We all have areas that we understand very well, and I often get similar questions to help give clients direction. It's easy for us to explain something that we work with every day and similarly, good financial planners should be able to bring the planning for money matters to life so you can understand how the different puzzle pieces fit together. Because you want to save into pensions and investments, it may be helpful for you talk this through to understand which balance between the two would suit you bets. Some financial advisers offer a free initial consultation, and they would explain the services they provide and cost so you can decide if you would prefer to employ a professional to help you.
You can use websites such as www.unbiased.co.uk or www.vouchedfor.co.uk to help you find an adviser. Alternatively, there are online investment providers that you can use to select a pension and investment yourself. Boring Money's Best Buys are chosen for their user review ratings, good value and good customer service. Have a look at Charles Stanley Direct, Hargreaves Lansdown, Nutmeg and AJBell Youinvest.
I hope this helps,
Helena
Helena Wardle is a Chartered Financial Planner at Sterling & Law.
We are not regulated to give personal financial advice - This isn’t full-fat regulated financial advice. Boring Money is a publisher and not regulated by the FCA.
This means we can't help with specific personal circumstances or recommend specific investment products. It also basically means that if we say something daft, you have no recourse to come back and complain.
We’re only allowed to give you a steer or share an opinion or tell you the facts - That said, we promise that our answer to you is an independent unbiased perspective with no commercial gain to make. If you need regulated financial advice, you can find a good adviser via sites such as Unbiased & Vouchedfor.
Helena Wardle
Helena is based at Sterling and Law's practice in Hitchin, Hertfordshire. She began her career in financial services in 2006 at the Nationwide Building Society and started advising clients in 2008. She's a Chartered Financial Planner with experience providing regulated financial advice on everything from mortgages to estate planning. She’s also a qualified pension transfer specialist and all-round good sort.
How much income will I need in retirement?
Rory | Ham | 28/08/2020 | 7
My question was about a man offering a 22.2% average return on his stock picking ability. I've tried to find reviews of his services but cannot find them anywhere except on a really old forum of his older product 'Spreedbet Beginner' where people have said they are blocked pretty swiftly on Twitter etc if they raise an issue. What is even more odd is that he cannot be found on Companies House. I would like your opinion on this matter as I have no idea what I should do.
Max | Lincolnshire | 27/08/2020 | 19
As a retiree with spare cash, how can I invest outside of my pension?
Wilson | ARL | 19/08/2020 | 1
I am looking for a new home for my SIPP. I am looking for a SIPP with low charges and which is easy to set up & run, as I am 75 now and keep forgetting I have dementia. Or do you think I should just leave it where it is?
Geoffrey | South Yorkshire | 08/08/2020 | 0
What are your views on Fidelity Multi Asset Income Fund, please? To me it seems to be a stable, low risk fund, paying a good dividend in today's climate but it won't shoot the lights out. Only negative for me is that it seems to invest in a lot of other Fidelity funds investing in UK stuff.
Nigel | Bedfordshire | 06/08/2020 | 3
The charges for my SIPP are around 1.5% per annum. When I look at other SIPP fees they are a lot lower than this. Am I paying over the top in charges?
Andrew | Greater Manchester | 04/08/2020 | 1
When investing across a range of funds, should I be putting the same amount into each fund or tailoring the amount to the % split I'm looking for? What if the platform I'm using has a minimum regular investment? Do I need to up the total investment to cover the minimum on all funds, or rotate which fund gets what each time?
Simon | Nottinghamshire | 29/07/2020 | 1
How can I compare the performance of different tracker funds (e.g. between PensionBee, Nutmeg, AJ Bell)? I want to see their track records.
Vivienne | London | 22/07/2020 | 2
I'm 50 now and hope to retire at 60. I have been paying into Vanguard Lifestrategy for a few months now. I have just 9.5 years to pay in and grow, do you think this is a long enough period to invest in or should I stick with cash if shares and bonds are likely to take a hit in a few years?
Richard | Hull | 25/06/2020 | 41
With China's economy emerging from COVID-19, is now a good time to invest into China? What funds with equities that have a China focus are out there on the market?
Tariq | Lancashire | 09/04/2020 | 5
I really don’t like this market meltdown during the coronavirus outbreak. Should I sell and just get out?
| 19/03/2020 | 18
Should I still make regular ISA and pension investments in the current COVID-19 turmoil? Or is it better saving to cash?
Andrew | UK | 17/03/2020 | 5
I'm thinking of moving into a drawdown SIPP, taking my 25% and leaving the rest invested until I need a regular income in my mid 60s. I am trying to find a financial adviser willing to review my plans, but they all want an ongoing relationship. Where can I find an adviser who will do a one off review? Also I am unsure whether financial investment protection is per fund or per SIPP.
Susan | London | 16/07/2019 | 16
I have a small pension which I have not drawn on yet, and I am seriously thinking about cashing it in, as I’m worried Brexit will mean substantial losses. Would I be better off just leaving it where it is?
Anne | South Yorkshire | 19/06/2019 | 0
How can I find out how my Aviva SIPP pension is performing against the competition? I'm 51. The fund value is £161K and it was opened a year ago. Appreciate any tips.
Danny | London | 30/05/2019 | 1
We currently have a Scottish Mortgage fund with Baillie Gifford. But we’ve received a letter stating that they plan to transfer us to Hargreaves Lansdown. Is this a good idea or should we look elsewhere? - Charles Stanley Direct, for example?
Matthew | London | 30/05/2019 | 4
I have minimal pensions and would like to start a new pension to save for the next 12 years. I've already set up a Stocks & Shares ISA with Nutmeg, so would like to start my pension with another provider. Which would you recommend?
Sam | Norfolk | 30/05/2019 | 0
I’m thinking about investing £1000 in Sirius Minerals. I would like some advice on whether this is too small an amount to get any gains from. At the moment I would be leaving it in for the long term of 5-10 years. I do realise that no dividend is being paid.
Adam | Cleveland | 30/05/2019 | 0
I'm in my late 30s, have a mortgage, a baby, no outstanding loans or credit cards, three pensions, and two Cash ISAs. I’d like to invest to renovate our house, help fund our children’s education and help them onto the property ladder, and retire as soon as possible! I considered a LISA but thought I might be better paying off more of the mortgage. I'm also confused about using a platform for a Stocks and Shares ISA. Any advice would be appreciated! Keep up the good work, I’m impressed with how refreshingly approachable your website is.
Nick | Berkshire | 29/05/2019 | 5
Hello, I already have a workplace pension. Can I also have a private pension? If so, I have a LISA as well. Can I have all three in place?
Precious | Surrey | 23/05/2019 | 0
I am a self-employed 55 year old, with only a state pension. What can I do to increase my money for retirement?
Sandra | Dumfries and Galloway | 21/05/2019 | 1
We have just retired to France. Our pensions cover our expenses but we also have £230k which we would like to invest for a monthly income. Could you please explain the low-risk options we might want to consider?
Keith | France | 10/05/2019 | 2
My parents (father since died) put money into Halifax 'Money Fund'. This then apparently changed to some form of 'investment'. I noted in January 2019, that a letter had been sent just under 3 years previously, advising that this was not the best place for their money. I made contact and complained. What can we do, as this money may as well have been under their mattress? It was originally mis-sold.
Maureen | Gloucestershire | 04/04/2019 | 0
When I retired in 2018, I considered consolidating my pensions for income drawdown. Recently I spoke to an advisers aligned to the investment philosophy of Albion Strategic Consulting, but was scared off again. I understand the basics, but am now totally unsettled as to the direction I should take and if, at such a critical stage, I should invest in an IFA on a regular basis.
Rob | Hertfordshire | 20/03/2019 | 3
My Fundsmith accumulation Class 1 investment fund has done well over the last 5 years, and its share price today is just about the highest it's ever been. Should I bank it now in case it goes down, or leave it and diversify by reinvesting monthly elsewhere in another fund?
Peter | Stockport | 18/03/2019 | 0
If my son increases his pension contribution, I have read it may affect the amount he can borrow on a mortgage. Is this correct? Should he take a SIPP out as well? Is there any advantage in maxing out his managed Nutmeg Lifetime ISA in the next financial year?
Richard | Hertfordshire | 06/03/2019 | 3
I am 65 and still working. I have a workplace pension, which was closed and replaced with a retirement saver pension. I contribute to this via salary sacrifice. I also have a personal pension serviced by an IFA. Should I move my personal pension fund to a SIPP provider at this late stage of my life? I would like to consolidate the workplace retirement saver and personal pension fund together and manage it myself.
Den | South Yorkshire | 27/02/2019 | 0
Trying to get a bit more pro-active with my pension. If my money had been in an online managed fund like Nutmeg for example, is it reasonable to assume that as the markets fell last year the funds would have been managed in real(ish) time to limit the damage? If so, is it therefore a no-brainer to transfer my pension to an online managed pension or is it not quite as simple as that?
David | London | 08/02/2019 | 3
I've been reading recently about how investment trusts are much the same as funds, but are cheaper to own. A: Is this true? and B: Do you have an article on Investment trusts on your site?
Nick | Surrey | 16/01/2019 | 11
Hello, I really enjoy your website and find it useful and concise. My question is, what is meant by long term savings? I am 54, so what should I consider to be an appropriate time frame for any investment I make, that could supply the best results?
Jennifer | Essex | 16/01/2019 | 11
I have an old pension and they have written to me saying that they are going to enhance my pension if I transfer it out. The company is also offering free independent advice. I have £117,000 in the pension at the moment, which would give me £6400 a year at 65. I am 61 in April and would like to finish work at that point. I am not sure how much extra they will give me. Have you any ideas or suggestions to help me decide? Thanks.
Nicholas | Carmarthenshire | 04/01/2019 | 3
I’ve been investing in Nutmeg’s Risk 10 profile for three years which helped my deposit for my house. I am now wondering whether to use Nutmeg again, or should I use LifeStrategy for my £1000 per month? Is there a difference between Vanguard's LifeStrategy option and let’s say a well known robo adviser like Nutmeg? I am still a beginner and would like to keep things simple, but happy to take risk and prepared to leave my investments for a long time.
Jordan | Surrey | 26/11/2018 | 19
I was lucky enough to inherit a significant sum from my father... currently in Alliance trust platform in 10 investment trusts. They have delivered well in the last 20 years. But they are UK equity based. And highly risky. Do you offer a sanity check service for confused individuals like myself? I don’t know what to do...
Paul | Berkshire | 12/11/2018 | 2
I am 25 and starting to seriously financially plan out my future. I would really welcome a 'sense check' on my thinking as well as some help on which investment choices to make. My goals are: To invest for 15 years - my risk appetite is very high (i.e. I could afford to lose all my money). Goal 1 - More Important: To have an investment pot of £1,500,000. Goal 2 - Less Important: To be mortgage free. My plan is: 1) Open an annual Stocks and Shares ISA each of the next 15 years. 2) Open Share trading/dealing account. 3) Reduce my mortgage term to 6 years by 2025. I appreciate the above is a lot to go though, but I'd welcome any help and guidance.
Mo | London | 15/10/2018 | 5
My wife and I have recently separated. The equity in the house is going to be split 50/50. We don't have any other meaningful assets. We have agreed to co-parent the children equally. My wife is requesting that I pay child maintenance, child care and school expenses. A CMS document states that shared child care results in no child maintenance payments. However, I do agree with the child care and school expenses payments. Our daughter has Autism Spectrum Disorder, so my wife gets a Disability Living Allowance for her and also works full time. If I don't pay the child maintenance, child care and school expenses, my wife is threatening to claim spousal maintenance, and take half my pension. Should I pay the £350/month or take my chances in court?
D | Lincolnshire | 03/09/2018 | 1
Can you advise me on the best approach when looking to invest in a product that offers compound interest? I’m thinking about funds rather than bank accounts. I also have 4 different pensions on the go. Should I keep them separate to diversify the risk? Or consolidate them? How will these pensions be treated when I retire? Will they be considered in aggregate by the tax man?
Craig | Clackmannanshire | 16/08/2018 | 1
I have about two thirds of my ISA in funds with Charles Stanley Direct and about one third left with St James's Place. I was planning to transfer the remaining one third to Charles Stanley Direct. However the recent platform price increases seem to put me in the worst position possible. After Charles Stanley Direct's fee increase, could I do better elsewhere?
Gerry | Bedfordshire | 15/08/2018 | 7
I invested my money in a St James's Place managed fund, split into ISAs and bonds, after advice from an adviser who was a St James's Place partner. My investments have done reasonably well, but I've read disturbing reports about St James's Place. Should I have concerns? Should I have found an independent financial adviser?
Glyn | Essex | 09/08/2018 | 8
I wanted an investment trust with an income, so I put £10,000 into The Investment Company. It delivers a reliable quarterly dividend but the capital value has dropped by 10% since I invested 2 years ago. What are your favourite investment trusts?
Fran | Greater London | 08/08/2018 | 4
Is there an average number of funds that one should ideally hold? I have in excess of 20. I am happy with my portfolio and coverage, but wonder if I have too many funds. The second part to the question is how long should you leave an underperforming fund?
Richard | Hertfordshire | 06/08/2018 | 4
I am 73 and cautious. There are two areas that your advice would be helpful..what if you just spend thousands on buying the gold standard footsie companies like shell and the rest and keep them for five years and then cash them in ?
DB | UK | 24/07/2018 | 6
My wife needs to set up a SIPP with a good value, low cost, low maintenance underlying investment portfolio. We want a good mobile app from a well respected provider. Where can we see the options and directly compare historic returns so we can make a decision?
Guy | Hertfordshire | 17/07/2018 | 1
I hope you can help. I recently consolidated two modest pensions into a SIPP in readiness to start UPFLS drawdown in May (2018). Whilst I was hoping for growth in my investments I wasn’t expecting it to rocket and now find I could well be looking at exceeding the lifetime allowance, possibly even before my first annual drawdown in May, and I’m unsure what, if anything, I should do.
John | London | 03/07/2018 | 6
I was considering applying for Individual protection 2016, which I understand would give me an LTA of £1,021,390. However, following the inflation rise of the Lifetime Allowance, it seems the LTA is now at £1,030,000. It now seems pointless applying for Individual protection 2016. Have I got this right?
David | London | 12/06/2018 | 0
What are the differences between income and accumulation income funds? How do you declare income reinvested in a fund on your tax return?
C | 05/06/2018 | 0
If I take a lump sum from my pension at age 55, what is the rate of tax after the first 25%?
Judy | UK | 17/05/2018 | 1
How long does it take to release money from your pension at 55 years old?
Diane | West Yorkshire | 01/05/2018 | 1
Do you have information on taking your pension pot before retirement? My husband is 62, on a final salary scheme & is trying to get clear information on it.
Jo | 17/04/2018 | 3
Can you recommend some very basic books for a 69-year-old widow who is now having to manage her money?
Martha | 12/04/2018 | 0
I am post-divorce with a good settlement which I have only partially invested. Are there any courses you can recommend? I have sat in a number of meetings with accountants and financial advisers feeling somewhat patronised! I am sure that there are plenty of women in a similar position to me (aged 55!).
Eavan | Ireland | 14/03/2018 | 3
How can I find a good financial adviser?
Byron | Greater London | 01/03/2018 | 1
My question is about my wife's pension valuation in a divorce situation. She is on a final salary scheme working for a national charity organisation. I feel the CETV value is too low and certainly does not take into account the inbuilt benefits such as guranteed final salary, life insurance.
Jay | UK | 12/02/2018 | 1
I am a 59 yr old retired lady with no income but I have reasonable equity..is it worth starting a pension or is it too late?
LL | Norfolk | 06/02/2018 | 2
Hi, If I take a lump sum from my pension at age 55, what is the rate of tax after the first 25% ??
Gareth | Hampshire | 26/01/2018 | 0
Can losses in a pension SIPP be offset against anything?
Henryk | Hampshire | 17/01/2018 | 1
We have four grandchildren (2 English living in UK, and 2 Irish living in Eire). We have decided to start savings plans for their futures. Their ages are 18yrs, 11yrs, 8yrs and 4yrs respectively. My age is 75yrs, and my wife is a little older. What should we do, please?
John | Buckinghamshire | 01/01/2018 | 1
I am a 59 yr old retired lady with no income but I have reasonable equity..is it worth starting a pension or is it too late?
LL | Norfolk | 10/11/2017 | 2
If I were retired and drawing my pension, can I earn an income from doing some sports coaching too? If so, how much can I earn without it affecting my pension? Thanks
Charlotte | Devon | 07/11/2017 | 0
I am getting long in the tooth at 79, a little forgetful and I am going through a painful divorce. This has shattered my confidence and I need help.
Richard | Kent | 05/11/2017 | 3
I have just sold my house and have a significant sum of money I want to invest. I may want to draw some income but also want to achieve capital growth. Are there funds that aim to achieve both or should I just invest for growth and draw money as I need to for income?
Jon | Surrey | 13/09/2017 | 1
Please help me. Choosing a pension from Aviva. It asks if I want growth or income? Which one do I choose ? I'm 46 .
Ria | Greater London | 11/09/2017 | 9
I am confused about index funds, e.g. Vanguard Equity fund. Do they track an index or include the yield? In the case of Vanguard, their low cost is attractive but their portfolio is made up of other Vanguard funds. I assume these probably each carry a fee structure - is this correct?
Robin | Gloucestershire | 03/09/2018 | 0
Is it worth using a financial adviser when it comes to switching pensions funds, or should I do the research and pick the funds myself? I am no expert in stocks and shares.
Helen | Dorset | 10/08/2018 | 4
I use H&L and although they are a bit 'plumy' on the phone I quite like their website and the costs are OK. So I was thinking of H&L for [my son]. I would be telling him to open these two funds and regularly invest and forget about them for 10 years!
R | Greater London | 29/05/2018 | 1
Why should I bother with paying into a pension at my age of 55 years now when I have never had one?
Tee | Greater London | 07/09/2017 | 7
Can I sort a pension out myself online?
Sharon | Greater London | 07/09/2017 | 0
What might a savings pot of £100,000 get me as a retirement income?
Aboodi | Greater London | 06/09/2017 | 2
Pensions vs ISA - which one is best?
Roderick | Greater London | 06/09/2017 | 0
What funds could my millennial children invest in?
Anthony | Greater London | 06/09/2017 | 2
What are the changes with pension annuities? My mother in law has asked as her retirement is looming. I've read in the press it's changing but it all feels confusing. I just need some simple clear advice. Thanks
Keith | Greater London | 06/09/2017 | 2
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