I set up a company pension a year ago. I am sole director.

[mellowyellow]

Hello,
I set up a company pension a year ago. I am sole director.
50k put into 'property fund' but planning to change funds or put into bank deposit a/c.
Are there any charges related to bank deposits? I presume as its with a pension, no dirt tax applies?

 

[LDFerguson]

Re: Company Pension

Can you clarify if your pension is an insured arrangement (i.e. a scheme with an insurance company like Canada Life or Eagle Star etc.) or a self-administered scheme?

 

[mellowyellow]

Re: Company Pension

Its a Standard Life executive pension. Self administered in that I can pick fund deposits etc with % charge pa

Thanks

 

[LDFerguson]

Re: Company Pension

The annual management charge still applies - check your original documentation to see what this is. It's 1% or possibly higher. No other charge applies, nor does DIRT tax as it's within a pension fund.

 

[mellowyellow]

Re: Company Pension

Im thinking about investing in a 6% sterling deposit account at the moment as opposed to equity and property funds. How would others rate such an investment?