Even if you no longer have the details we can help you locate the pensions.
It’s simple really: you have saved money into a pension and built up a fund to improve your lifestyle in retirement – we are here to help you ensure that fund is as big as possible!
One of the main reasons why you should review your pension is that very often these old-style products are expensive to run. As a result, your pension fund, which is what determines the amount of pension income you receive, is constantly being eaten into by large and unnecessary management costs. For instance, many contain a yearly allowance for a ‘house call’ from a pension adviser to review your pension with you. However, in reality, these rarely if ever happen, yet this cost remains in place, with you continuing to pay for a service you never receive.
By reviewing your pension with you, we can see if you are paying too much and would benefit from transferring to an alternative provider with lower costs. Simply by reducing the charges you have to pay each year, you will start to see your pension fund grow much faster.
But management charges aren’t the only reasons why you should review your pension. If you haven’t been benefiting from regular pension reviews from your current provider, then you really have no way of knowing if the money you are putting into your pension is being invested in the right way for you.
The good news is that our pension reviews are all free and no obligation. We will provide you with advice from a qualified adviser and give you a written report free of charge.
In order to start a pension review you need to sign a Letter of Authority that gives permission for our chosen Independent Financial Advisers to obtain up to date information about your existing pension funds.
Your dedicated Independent Financial Adviser will give you detailed report on what your options are, if they recommend you switch providers and why. All in plain english, no jargon.
Transferred his Standard life pension of £39,288 we have projected at retirement he will have a fund of £14,700 greater than his current Provider.
Transferred his Prudential pension of £22,680 we have projected at retirement he will have a £6,366 greater fund than his current Provider can produce.
Transferred his Guardian Financial pension of £33,363 we have projected at retirement he will have a £5,497 greater fund than his current Provider can produce.
Transferred his Aviva pension of £36,043 we have projected at retirement he will have a fund £7,477 greater than his current Provider can produce.
Transferred his Scottish Widows pension of £18,734 we have projected at retirement he have a £8,897 greater fund than his current provider can Produce.
That means a much longer retirement, so setting up a new pension as early as possible to help ensure you have a reliable income to look forward to, is becoming even more important.
In fact, by doing that, you will miss out on the unique benefits that getting a new pension can offer you.
If you’re thinking of accessing some of your pension, we’re happy to provide independent advice on the tax implications, so you can make an informed decision.
With good pension planning, you can also pass on your pension savings to your family and friends after your death, free of any inheritance tax. Again, we can provide independent advice on how best to do this, so that you don’t encounter any problems.
Some people have the knowledge to manage their own pension savings but most people look for the help of a professional adviser. Decisions made now can have a major impact on retirement lifestyles. The first thing to do is to make sure existing pensions are in the right place. This will typically require a formal review by an adviser who is an expert in giving specialist pension advice. Then as your circumstances change over time it is important to have regular ongoing reviews. We recommend that any adviser you use formally reviews your pension every year.
Will they provide a pension review free of charge and at no obligation?
Do they provide a convenient way for you to receive advice from a qualified adviser?
We provide all our advice over the telephone and by post and email, although if you decide to transfer your pension we may organise for a document collection agency to bring you the papers that need signing.
Do you provide advice about ‘auto enrolment’ pension schemes?
We do not currently provide advice about these schemes as your employer should provide you with access to this type of advice.
On average the initial review is completed in 4 to 6 weeks, but this is very dependent upon how long the existing pension provider takes to give us the information we need about your existing pension. If you do agree to transfer your pension then this can take a further 4 to 6 weeks.
Can you provide me with advice if I contracted out of the State Earnings Related Pension Scheme (SERPS)?
Yes, we can provide free, no obligation advice about your options if you have contracted out of SERPS.
My company are about to introduce a pension scheme at work. Should I join?
YES. The government require all employers to provide pension schemes for their employees by 2017; this is referred to as ‘auto enrolment’. By 2017 you will be required to pay a minimum net contribution of 4% and the company will be required to contribute a minimum of 3% of pay into the pension. By not joining, you would effectively be turning down a 3% pay-rise.
