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The need for an individual pension review has never been more apparent. The UK government have just announced that the future state pension age will be decided through life expectancy. Those born in 2011 are expected to live to the age of 90 on average. This plan is hoped to drastically cut government spending in the area of pensions as they are currently coping with a huge deficit. Already, plans are in place to increase the pension age even further.
Act Now, Save Money
What this means is that a pension review should be undertaken by every UK citizen with the help of an independent financial advisor. Although a rising pension age means more time to earn enough money to live on in retirement, an increased life expectancy makes this extra cash a necessity. Currently, a large proportion of people with pensions have little idea of how it is performing nor do they know if their current plan offers value for money.
A pension review is not a complicated process when aided by a financial advisor and it is likely to save you thousands of pounds in the future. You may be locked into a pension plan that is no longer earning its keep and is, because of inflation, draining money from you. A pension review will enable you to find out the current rate of growth and if you can expect to earn better elsewhere. You can also find out if it is possible to transfer your funds.
Do not allow another second to go by where you have not had a pension review. As each second ticks away, so may your chances of enjoying a stress-free retirement. Don’t depend on the state pension, talk to an independent financial advisor to see if your pension money can work harder for you. Fill in our form in order to speak directly to an advisor who can help you with your pension review
