I’m trying to get my head around what to do with my pension. I’ve currently got a Scottish Widows personal pension (It says strategic fund??) whose current value is £35K. I’m not sure I am getting best value for money (the website says my Annual Management Charge is 1% but I am not sure if there are other charges) and am looking at what my options are.

I am a contractor so would like something that I can pay into from my Ltd company as well being able to make the payments fairly flexible dependent on how well the company is doing.

It looks like a SIPP might be a good option for me. My understanding is that I need a SIPP platform (such as iWeb) and then decide which funds to invest in. I am not going to be very actively managing the investments so it looks like an ETF fund (such as Vanguard??) would be a good idea. Does this sound right?

Otherwise I guess my over option it to find another personal pension that allows flexible payments such as the Cavendish Aviva pension.

Are these the right options for me or should I be looking at anything else? Also there seem to be lots of acronyms surrounding pensions and there charges. Can someone recommend somewhere that will explain what these mean.