Reviewing Pensions

Pensions are often one of the largest assets people own, yet many go years without being checked. A review answers the questions most people have: how much have I got, is it invested sensibly, what am I paying, and am I on course for the retirement I want?

Signs it is time for a review

• You have several pensions from previous employers
• You are not sure what funds you are invested in or what you are paying
• You are within ten years or so of retiring
• You have not checked who would receive your pension if you died
• Your circumstances have changed – a new job, marriage, divorce or an inheritance

A thorough, independent check

As an independent adviser, I am free to compare your plans against options from across the market. I look at the charges, how your money is invested and how much risk you are taking, as well as any valuable guarantees or protected benefits built into older policies. Some older plans include features, such as guaranteed annuity rates, that are worth far more than they first appear – and that could be lost by switching.

Honest recommendations

Combining your pensions can simplify things and sometimes reduce costs, but it is not right for everyone. If your existing arrangements are working well, I will say so. If a change would benefit you, I will explain why in a clear written report, including the costs involved, so you can make an informed decision.

Beyond the pension itself

A pension review is a good opportunity to look at your wider retirement plans: when you might retire, what income you will need and how your pensions, State Pension and savings fit together. I work with clients across Livingston, West Lothian and Edinburgh, and my fees are agreed with you upfront.

Please note: I do not advise on defined benefit (final salary) pension schemes.