Why Should I Review My Pension?
By saving into a pension you’ve taken the first important steps towards a more comfortable retirement - and taken advantage of significant tax breaks that could help you enjoy the quality of life you deserve in the future.
When did you last take a look at your pension?
Can you be sure your pension is on course to provide the retirement you deserve?
Are your payments invested in the fund(s) that meet your investment needs and views?
The fact is, if you want your pension to support you as you expect in later life, you need to keep a keen eye on it now and give it a boost if necessary. That could mean topping up the amount you’re paying in, or simply checking that you're happy with the choice of funds in which your money is being invested.
When did you last review your attitude to risk?
If you do not know your attitude to risk then you have no idea what funds to invest in. You may wish to search for high reward but what about the potential downside? Would you be happy if you lost half your pension fund over night? Do you have time for the market to recover from such a loss? At Lyndhurst we regularly review your attitude to risk and choose funds and portfolios that are appropriate to this. We will clearly identify your attitude to risk and probably more importantly your attitude to loss. We can then select funds which automatically rebalance back to this regularly so you are not exposed to more risk than you should be. When was your pension last rebalanced? Are you taking more risk than you want to be? If you are close to retirement you should be thinking about a migration path to risk averse holdings as you secure your pension position.
I'm approaching retirement what should I do?
Seek advice! There are many options for retirement now, some you may not be aware of. Your pension provider will write to you offering you an annuity but this is not your only option and may not be best for you. Once taken you cannot go back, so speak to a pension adviser in advance and do not fall into the trap of just ticking the box.
Should you require assistance in reviewing your pension requirements one of our consultants will be happy to assist you. Please complete our pension advice enquiry form.Note: If you are an existing client and haven't already done so, you may wish to register for our newsletter by e-mail
Lyndhurst Financial Management Limited is Authorised and Regulated by the Financial Services Authority (www.fsa.gov.uk/register). FSA Registration No: 154621
