Self Employed contractor- Which pension, how to get independent advice

[girlies]

I was wondering where can I obtain independent financial advice as to what type of pension to commence.
I am currently a director of a ltd co and work as a consultant contractor.
I need to put company funds into a pension prior to Oct 2008.
I have spoken to some of the banks and am still no wiser with what I should do, Executive/PRSA.
I may not stay contracting and could go back to a permanent postion in 5 years when I'm 32.
I would also like to be able to change the funds twice per annum if possible without incurring huge fees.

Where can I speak to an advisor who is not tied to an agent and trying to push their product.

Thanks in advance for your help

 

[shaking]

As a Director of a Ltd company your best option is to set up an Executive Pension Plan as you have more scope in terms of funding. If you go to a permanent position in a few years time you can make your executive pension paid up and contribute to a group pension. You'd be better off to leave your funds in the exec pension rather than transferring them to a group plan at that stage as you have more options at retirement under the exec plan. In terms of switching most pensions will allow a couple of fund switches a year tax free.

You need to talk to an independent adviser they should have an initial meeting with you free of charge.

 

[LDFerguson]

As a Director of a Ltd company your best option is to set up an Executive Pension Plan as you have more scope in terms of funding.

True, but if Irishgurl is happy with the age-related limits for tax relief and doesn't foresee that she will want to exceed them, I'd say a Personal Pension or PRSA could do the job just as well.

An Executive Pension requires a trustee and from November 2008 all trustees (including all directors of companies who act as trustees) will have to go regular mandatory trustee training. This doesn't apply to PRSAs or Personal Pensions.