Hi I could do with as much advice as possible.

I'm 29 and director of a small company turning over roughly 150k a year. I haven't started a pension as I've spent the last 5 years investing everything I had into the company. This is now starting to pay off and the company is making pretty good profit.

I was interested in starting a pension initially as a form of tax relief for the company to bring down our corporation tax and eventually use the assets to purchase a commercial property.

I've had a meeting with an IFA who's suggested something quite different. He's suggested a stakeholder pension plan where I pay £250 pcm with AEGON Scottish Equitable which will return £306k at 55 and £470k at 7% – There is also a £500 upfront fee.

So I've got a couple of questions if that's ok:

1. Should I go for a pension where I contribute or the company does?

2. Are AEGON – Scottish Equitable any good compared to AVIVA etc (I've found varying reviews)

3. I've read that the way you buy a pension can also affect the end result massively, for instance the comparison at the bottom of this page between buying direct and through a service like cavendish online: http://www.moneysavingexpert.com/savings/discount-pensions

4. Should I go for a stakeholder plan or sipps? Based on the information above

5. What figure realistically should I be putting away a month (I know this depends on how much I want at the end – but any suggested figures would be helpful).

6. Should I be using an IFA or dedicate the time to research & manage myself?

7. Any other advice would be great, I didn't realise how overwhelming and important this process is.

Thanks in advance for any help you can provide

Kind regards

Paul

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Answer:I can not directly answer questions since your situation is based in the U.K. However, as a young person why in the world would you consider putting your savings under the control of others? That is what a pension plan is. In 40 years, you may find that it cost £500 to fill your tank with petro. When you can not get access to the money without paying a bunch of fees, it isn't really all yours. For normal wage earners that are unable to save money, retirement and pension plans are fine. You do not appear to fit into that category.

If you are able to invest in a growing, successful business, then do it. Invest in property for the company that will pay you back. Find other types of business to invest your money in to spread the risk out. Learn how to defend your wealth in this changing world. Never expect anyone to do it for you.

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