Pensions - They're a minefield aren't they?!

[Cyder]

I've got a pension through my employer where I pay a fixed % and they match it through Standard Life.
According to the paperwork I'm enrolled on "Standard Life Global Equity 50:50 Tracker Pension Fund" but I'm free to change to whichever plan I fancy at any time.

So as a pension newbie with no real idea how all this works what's my best move?
Is it worth speaking to a financial advisor, or is there a good way to compare plans for myself? Are they expensive to talk to?
Or is there a good method of comparing different plans myself?

For what it's worth I've got the thick end of 40 years until retirement and I've been paying into the fund for about 3 years so far.

Any advice would be appreciated.

Thanks

[Ginge R]

Cyder,

If you have time on your side, a discussion with your company pensions bod *should* be sufficient.

In principle, consider investing in something punchy and cheap at outset - you have a tracker - which many people like because it's cheap and it is a risk on fund! If in any doubt, have a chat with an adviser - a discussion should be free, it'd be a small minded IFA who won't spare you a few minutes.

In principle too, consider getting your insurance squared away early, start saving for a rainy day and identify your investment objectives (house in 12 years, decent car in 10 etc). Identify what you want life to look like, the big ticket items and the objectives and outcomes - and then work back from that to establish the tactics.

If in doubt though, always take regulated financial advice you trust (sorry, disclaimer!). By the way, I LOVE pensions! ;-)

This is your fund:

http://www.trustnet.com/PDFAd.aspx?url=%2FFactshee...

[Cyder]

Hi Ginge R,

Thanks for your advice, I'll sit down with them next time they come in to see us and have a chat and then see whether I think it's worth having a chat with an IFA on the back of it.

It's satisfying to see the pot increasing but I can't help but wonder whether with some decent advice it could be growing quicker!

I'm working on the saving thing, house is the next big item and hopefully that'll be next years excitement as we're saving up at the moment for that and trying to reduce the outgoings at the same time to help with it.

Thanks for the fact sheet, but sadly I couldn't open it.

Thanks again.