pensions in the uk?? any good ones??

Question

i am self employed cabby aged 33 in uk ,starting to think of joining pension scheme ,do not know much about ,all i hear is of them going bang!! any schemes which are safer than others ?? any advice would be appreciated

Answer 1

Dont get a pension. I was 19 when yuppie "financial advisors" tried to sell me the latest thing, an "endowment". I was asking about mortgages at the time, they didnt do those, but this would pay a mortgage! If I could get my own, interest only. I laughed at the idea. Still am. Its a good feeling, when your proved right!
Companies can legally use the pension fund, to invest...in themselves, and go bust. Same as financial companies can.
"insure" yourself, that is underwrite your own old age fund, by investing in your own "fund". Decide how much money you can afford, and use it wisely. A mortgage on a second, rented out home? The increase in value will ofset mortgage interest over the years, while the rent pays the mortgage. You can use this income, in the appraisal of appling for a commercial mortgage. Theyll want come back, should it fail, equal to the shortfall in a quick sale, (and ascotiated fee's), about £20,000 they'll be looking for, not payment, but that your good for it (collateral) should it fail. Other property investments (buying off plan) are good, but you need to be active, buying/selling frequently, over a period, as your fund grows. Your looking for long term growth, and long term security. So property is the best option. Property you own though, avoid scams, clubs, timeshare.

Answer 2

Buy to let properties are the best pension you can have. Good luck

Answer 3

You're best course of action is to vsist a financial adviser. Log onto www.unbiased.co.uk to find one in your area. They will be able to help you choose the best pension for your circumstances.

Answer 4

Yes they are called buy to let properties.

Answer 5

I gave up and bought property