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Pension Investments Review

Pension investments are easy to forget about until you start reaching retirement age - they're just a little pot you put a bit of money into each month to use when you retire. But the truth is unless you review your pension frequently, at least every five years, you might be in for a bit of a shock when you retire.

Pension investments aren't just about saving up money - they're intended to perform in a certain way with interest and stock markets, to provide you with greater return when you retire. If you don't keep an eye on your pension then you could discover that your pension plan didn't perform too well over the last few years and end up with a lot less to retire on then you thought - which, at this point, it becomes too late to make any changes.

 

10 reasons why your should have a pension investments review:

  1. Your current plan might not be performing well due to stock market changes in recent years. This could be only a small downturn or permanent, but you won't know unless you have your pension reviewed by a professional independant financial advisor.
  2. You may have changed your retirement plans over the years - will your current pension plan still be enough to accommodate your new retirement?
  3. You may have changed jobs and had an occupational pension, or have had too many pension pots over the past few years to keep track of and need to know exactly how much you have to retire on.
  4. You're retiring in 10 years time - or sooner. You need to make sure your current pension plan will help you live comfortably before it's too late and you can't switch.
  5. You're not getting the best deal on the market - with the new Open Market Option, there's a world of pension investments out there. An independant pension advisor can help you explore them.
  6. Your partner has recently passed away, you're getting married or going through a divorce - if you have a shared pension, or want to get one, you might have to change your plan significantly to accommodate both of you.
  7. You don't know everything about your current pension plan. If some areas are a little bit confusing to you, get your pension reviewed professional and have everything explained fully so you know what to expect upon retirement.
  8. You're planning to retire earlier, or later, than expected.
  9. You want to unlock a bit of your pension when you reach 55 - by doing this, you'll need to know whether the remaining cash will allow you live comfortably, or whether you need to switch providers before unlocking your pension.
  10. You're concerned about the current market or economic downturn. Even if you don't feel like your pension is at risk, you should always opt for a pension investments review if you're the least bit concerned about the current economic climate.

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