How do I choose the right pension

By THIS IS MONEY
Updated:

 

I want to start a personal pension. I'm 33, female and have returned to work but the job has no pension. My employer has agreed to contribute 9% of my salary to a personal pension and I can put in £40 net a month. How do I choose which pension to take? JM, Stafforshire.

Jon Minchin, independent financial adviser at Pensionline says: Without knowing more about your financial circumstances I cannot be specific but in general those looking for a personal pension should go for a company offering a broad range of funds in which your contributions can be invested, low charges and a good investment record over time, such as CGU, Norwich Union or Standard life.

But remember that stakeholder pensions are supposed to be introduced from April 2001 (assuming they are on schedule). Don't delay choosing a pension until then because you will lose pension income later if you do, but when choosing you pension select a company that will let you transfer your fund to a stakeholder pension without penalties if it later proves to be a better deal for you. It may well pay you to see an independent financial adviser with pensions experience.

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