investion the money in a private pension scheme.

[ste v]

I have 5K in a private pension scheme and would like to invest the money into a specific business not what the pension scheme thinks i should. Is it a simple case of telling the pension company the name of the company i want to invest in (the company belongs to a friend) ? thanks

[factor-fiction]

It depends on the type of pension. Is it a SSIP?

[annie0000]

Or a SIPP even ;o)

http://en.wikipedia.o...sted_personal_pension

If it isn't, you will be likely be tied to one of the investment options offered by the Pension Company or even those specific to the pension you have taken out. There are also likely to be fees attached to switching your investment if you do decide/are able to move the money to another fund.

[factor-fiction]

Yes, I'm slurring my words tonight, annie0000.

[annie0000]

lol factor - I wouldn't have bothered to correct but ste v may try googling and wondering what it is he is supposed to be looking at. Would be very surprised if he has a SIPP anyway, not the most common and tend to be higher end financially savvy investors.....and you'd probably know therefore if you had one.

[ste v]

I've skipped a bit if info to make the question simpler - the money is actually in a company scheme that has been stopped and im going to transfer into a new scheme asap so I guess I could transfer it into any type of scheme I like ?

[factor-fiction]

Well you might want to look at a SIPP then.
I've used these: http://www.hl.co.uk/

[Captain Spod]

Agree with all the above but you need to check that the scheme you're leaving is not a final salary/ defined benefit scheme. These can retain valuable benefits even after the sponsoring company has closed. If your friend's company is not a PLC, a SIPP provider might decline to take the shares or, at best, charge a lot to buy them on your behalf and then keep them.