pension awareness day
saving for your future
In the 21st century, people lead more active lives in retirement than in previous years. Of course, the quality of this part of your life depends largely on how much money you’ve accumulated over the years through things like your pension.
Pension Awareness Day is all about encouraging you to learn more about your pension. How much is in your pension? How well is it performing? And what your retirement would look like with the pension you’re currently building.
here’s 5 reasons you need to know more about your pension:
1. You can’t create something from nothing – when you get to retirement age, if you have no pension, how can you expect to live a comfortable lifestyle with no income?
2. Knowing your figures – your pension funds will be broadly invested but you need to review its performance regularly to ensure its accumulating nicely. This way, you can forecast what the figures translate to when you retire.
3. Those missing pension pots – have you switched jobs a couple of times? If you’ve paid into a pension in multiple jobs, you probably have a few separate pots. Often, consolidating these can reduce your fees and improve your pensions performance. If you need help either tracing a lost pension or you’re considering merging multiple pots together, we can help with this.
4. Get extra contributions for free – if you put money into your pension or your employer puts money into your pension from your pay, you’ll get 20% contribution in the form of a tax relief. Why wouldn’t you?
5. Achieving the lifestyle you want – In most cases, the state pension isn’t enough to help you achieve that dream lifestyle you’re probably envisioning. You’re going to work hard for a good number of years, if you put in that extra bit of planning now you’ll be able to have that flexibility with your money when your retire. Remember, your pension shouldn’t just provide you with enough to live off, it needs to provide you with an income that suits your lifestyle.
Knowing your future is secure could help you avoid a lot of unnecessary stress and give you peace of mind that you can retire comfortably in your later years.
Take advantage of our free pension review service to learn more about your pension.
