How do I start a new personal pension?

I’m looking to invest for my retirement and want to know how to go about starting a new pension. Where do I start?

Question asked by Todd Green
Need Pension Advice?
Call us on 02084327333
First Name
Phone
Email

Answered by Stephen Moore

If you are employed, then your first port of call should be your employer, as they will usually make contributions into the pension scheme they offer on your behalf which can boost your pension savings considerably.

Employer Auto-Enrolment Scheme

Under the Government’s auto-enrolment legislation, your employer must automatically enrol you into their pension plan. However, this scheme is being rolled out gradually, starting with the largest employers first. All employers, regardless of their size, must offer their employees a pension by 2018.

No Company Pension Scheme

If your’s doesn’t provide a pension yet, or you are self-employed, then you can set up your own pension plan with an insurance company, bank or building society, or via a pension adviser such as Drewberry. Always compare charges and investigate which investments you can put your money into before paying into a new pension.

If you want to manage your pension yourself, you might want to consider a self-invested personal pension (SIPP) as they offer a wide choice of investment types.

company pension scheme
 
auto-enrolment
 
new pension arrangement
 
This information does not constitute financial or other professional advice. You should consult your professional adviser or contact us directly on 02084327333 should you require financial advice. It is important to ensure any insurance policy you take out is suitable for your needs.
Start your journey today...
  Find out how a Drewberry financial adviser can help you reach your destination by making the most of your finances.
Call us on 

Frequently Asked Pensions Advice Questions

 
I know with the changes in the budget introducing pension freedom we are now able to access are pension...
 
I want to make sure that I get the most out of my pension, how can I compare different plans to help...
 
Given all the talk in the budget around the changes to the pension legislation and the introduction of...
 
I have an old pension with a former employer – should I consider transferring it to my...
Need Help? Live chat now and get an instant answer from our Experts...

Neil
Pensions

Victoria
Insurance
Our Latest Reviews
Cecilia Walsh
04/12/2017

I would like to say thank you to Ciaran King for his professionalism, respect and sensitivity with dealing with my income protection insurance.

Kevin Spence
05/12/2017

Was extremely impressed with the service we received from Michael. He was so helpful with good advice and saved us money. The policy was set up and running with in a couple of days. Would definitely recommend to friends. Thank you.

Omar Holmes
05/12/2017

Sam Carr was very knowledgeable, efficient, called when he said he would and kept me updated through out the process.

We are rated 4.9/5 based on 1320 independent client reviews.
To read more of our independent client reviews click here →
REVIEWS
EXCELLENT
4.92 / 5 Average
1331 Reviews
P
Overall Rating
Professional, quick and straightforward service from Victoria for the second time in a raw.
O
Overall Rating
Sam Carr was very knowledgable, efficient, called when he said he would and kept me updated through out the process
K
Overall Rating
Was extremely impressed with the service we received from Michael.He was so helpful with good advice and saved us money.The policy was set up and running with in a couple of days.would definitely recommend to friends.Thank you.
A
Overall Rating
I would like to say thank you to Ciaran King for his professionalism, respect and sensitivity with dealing with my income protection insurance.
S
Overall Rating
Ceiron King did an amazing job setting up my insurance. He was meticulous to all details and made sure everything was individually tailor made to suit my circumstances. When I had queries he was able to take on board any issues and find solutions quickly. Pleasant, easy to talk to, engaging, personable chap who effortlessly made me feel that I'd found the right firm. Highly recommended.