Pension Review

3 reasons to review your pension

  • It's free, easy and there's no obligation
  • You could have more cash when you retire
  • You could be eligible for a 25% Tax Free lump sum from 55

A combination of changes in legislation and competition has reduced the charges associated with pension plans in recent years and many providers have not applied these reductions to existing plans and therefore may no longer be the best pension plans available.

A Pension Review will enable you to compare available pension plans on the market and if appropriate undertake a pensions transfer to a pension scheme with the lower charges. A reduction in charges means that more of your pension money is yours and so your pension benefits are increased.

A review of your pension planning will provide you with the following information in order for you to judge the best pension scheme for your needs:

  1. Details of where the money in your existing pension plans is currently invested;
  2. A review of the effect of charges being applied to your existing personal pension plans, to see if you are able to potentially increase your benefits at retirement by switching to a more competitively charged pension.
  3. Information on the fund values and income you could potentially achieve at retirement (consolidated from all of your plans if you have asked us to review more than one).

Based upon the above information you will be able to see if, by transferring your pensions to a more competitive plan, you could have more in your pension fund to use when you retire.

The review of your pension planning focuses on the effect of charges on your pension if you were to consider transferring pension funds. You will be kept informed by telephone to let you know how your review is progressing, and you will also receive a summary of the review in the post.

With a Pension Review you are under no obligation to take any action that you do not feel is in your best interests. It is your decision whether to act on the outcome of your review.

If you decide you could be better off by transferring your pension fund to an alternative provider, the next steps will be fully explained and managed for you. As part of this pension transfers process someone may visit you at your convenience to complete any necessary paperwork with you.

So, to potentially transfer to a more beneficial pension, don’t delay your Pension Review – it is FREE OF CHARGE and may be worth a great deal to you in retirement!


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