10 Reasons to have the pension HealthCheck
1. To ensure that your pension allows access to the pension freedoms which commenced in 2015. (This law change was passed to give people from the age of 55 more rights and control of their pensions)
2. To check you are not being overcharged (some older funds are up to 8 times more expensive than modern ones)
3. To make sure that your pension investment reflects your attitude to risk (our attitude to risk tends to change over the years and the funds may still be invested according to your attitude from 20 or 30 years ago)
4. Make sure that your pension goes where you would like it to upon your death (You may be unaware that your nominated person on older plans may not be your chosen beneficiaries now)
5. To see if there are any guarantees or bonuses attached (These may bring added value to your pension and you need facts to make an informed decision)
6. To be aware of any penalties (pension contracts can have a lot of penalty clauses written into them and you need to understand how these impact on you)
7. Find out if there are any hidden charges (often difficult to see on your statement and could include monthly admin fees on top of annual management charges)
8. Compare your pension to the rest of the market (so you know about all your options)
9. Have the opportunity to do something now before it’s too late (by speaking to our qualified and regulated IFA’s you will have a clear understanding of what is best for you and the options you have)
10. Have peace of mind that your money is doing the best it can for you and your family (so you can plan ahead and not face any nasty surprises)
