Self employed pension

[Lipstick Kisses]

Hiya, Wondering if you can offer some advice. I need to set myself up a pension but I don't know where to start!
How much am I supposed to save? How do I set one up? Who do I contact? I literally have no idea what I'm doing haha. I have been into my local bank branch but they said they cant do it in branch (???) and they really weren't very helpful so I thought I would turn to you lovely geeks to see if you can help me with your wisdom =)
Sorry if this is really obvious!
Many Thanks x

 

[Beckybee]

See a pension adviser they should not cost you any money as they get paid by referring you to a scheme.

How much you pay is up to you, bare in mind the more you pay in the more you get back.

Pensions are also a way to reduce your tax payments.

I'm not expert but very soon I doubt there will be a state pension, so it's important to sort out something so you'll get an income in old age.

Don't forget you can supplement your old age by other investments. Property for instance.

 

[Lipstick Kisses]

Thank you!

 

[Trinity]

You need to speak to an independent financial advisor who specialises in pensions, personally I think you are better paying for the service, then they will find the right product for you not the one that pays them the best commission.

The younger you start the cheaper the premiums but it's a good habit to get into early

 

[hazelb]

I do have a private pension - but I know it's a very small one. I pay in once a year and the gov tops up the amount by the tax I would have paid on the money I put in.
I did get pension advice about 10 years ago. At the time there was no way of getting at your 'pension pot' all you could do was buy and annuity with it so I was told to save using ISAs, then I could do what I wanted with the money.