Fees are important because they reduce the performance of your pension, and over the long term even small differences in fees can have a big impact on the money you end up with. The funds used for auto-enrolment can charge at most 0.75% annually.
You should carefully compare the fees charged on any old pensions with other pensions available – where cheaper options are available, you may want to switch.
Capital at risk. All investing should be for the longer term. The value of your investments can go up and down, and you may get back less than you invest. Tax treatment depends on individual circumstances and may be subject to change in the future.
A 25% government penalty applies if you withdraw money from a Lifetime ISA for any reason other than buying your first home (up to £450,000) or for retirement, and you may get back less than you paid into your Lifetime ISA.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Payments you make into your pension won’t be accessible until the minimum pension age (currently 55, increasing to age 57 from 2028). Tax treatment depends on individual circumstances and may be subject to change in the future.
