It's sometimes hard to think about pensions when you have so many other expenses, so much going on in your life but honestly it's a serious subject. In a conversation recently i shamefully admitted I have 2 pensions and I'm not entirely sure what benefit I'll get from them as one has lay dormant for over a decade and the other is just ticking over until I'm in a position to pay in regurlarly again! That's when it hit me that I have to sort this out!
I've been researching lots of pension options, and admittedly it can be quite confusing but I do like the look of Nutmeg. They offer a really low management fee (0.3-1%) which sounds reasonable to me. But I especially liked that you can log into your account at any time and check on your investment, so you always know where your money is, and you choose the level of risk you are prepared to take in your investments. Leaving you in control of your finances. They also automatically add your 25% government tax relief as you make monthly payments into your pension pot – all out of their own funds. That way, you can start benefitting from the extra contributions to your investment portfolio straight away. Apparently they are in the minority of companies who do this in the UK.
I've definitely put Nutmeg on my list of potentials as it seems very simple to transfer my existing pensions and have everything in one place. How about you? Are you set for retirement? Do pensions confuse you too?
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