Pensions

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9. Value for money personal pensions

A personal pension plan is simply a tax efficient wrapper for your investments.

There are hundreds available from life offices, unit and investment trust companies, banks, building societies and friendly societies. Some of the new providers include retailers like Tesco, M&S, and Virgin.

You may need help choosing the best plan for your money and circumstances.

The main criteria on which your choice should be based include:

• The performance track record of the pension company, with the emphasis on consistently competitive annual returns over the long term;
• Access to a range of funds and, ideally different investment managers;
• The flexibility of the contract - for example there should be no financial penalties for reducing and stopping contributions, transferring the fund and early retirement;
• The commercial strength of the company (pension plans are not just for Christmas - they can run for 40 years!); and
• The level of charges deducted during the lifetime of the policy.

1. Don't rely on the state scheme! 2. Private pensions: your most tax efficient investment 3. Company pension schemes 4. How to top up your company pension 5. Factors when topping up a company pension 6. What if you change jobs? 7. SSASs for small companies 8. Personal pensions 9. Value for money personal pensions 10. Aim for a balanced pension portfolio 11. How much can you invest in a personal plan? 12. Choosing a fund 13. Personal pensions with greater investment scope 14. Use your plan to get out of S2P 15. Do you need an adviser? 16. Conclusion

• Pension Power