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Pensions are a crucial part of ensuring your money lasts after you stop working.
Personal pension rules have changed quite a lot over the years, mostly to make saving for your retirement more attractive. With all these changes, it can be hard to keep up—especially if you haven’t reviewed your policy or thought much about it for quite some time. We will work with you to help you understand your options and ensure your wealth sustains you into later life.
In some cases, older pension policies are outdated and offer limited options at retirement age and higher charges. It may also be that the funds where your investments are held are under-performing.
That being said, some older pension policies still have valuable guarantees linked to them, so it is important to know what these are so you can make an informed decision. This is why we offer personalised pension reviews.
Types of Pensions
Typically, Pensions typically fall into to two categories: Personal (Private) Pensions and Occupational Pension Schemes.
Occupational Pension Schemes can either be directly linked to your earnings, known as ‘final salary’pensions (now referred to as Defined Benefit Schemes) and a scheme similar to a personal pension, made up of contributions from both the employee and the employer (referred to as Defined Contribution or Money Purchase Schemes.)
Though not everyone will benefit from a review, we will help you understand your options and gain the peace of mind that comes from knowing you’re in the best scheme for your circumstances and goals.