The Pension Review Process

How does a pension review work?

So, you have a plan for retirement and have saved money into your pension to fund that lifestyle.  We are here to help ensure that your pension is on track to deliver that for you and a pension review is a great way to start that process.

How your pension performs is key. As situations and performances of funds change regularly it is sensible to review the performance of your pension regularly to make sure you are not losing out on any additional benefits that switching pension provider could deliver you.

Below is a step by step guide of how a pension review with Periscope Wealth works. Remember, the review is no obligation and free of charge. What’s more, we will only recommend that you change provider if it is beneficial for you to do so.

How does a pension review with Periscope Wealth work?

Step 1

We will identify your current pension situation with you, taking the time to understand your specific retirement needs.

You then simply just have to sign a Letter of Authority (LOA). This document allows us to request more detailed information from your current pension provider, so we can review the specifics of your scheme more closely and determine whether improvements could be made to your pension.

We will also gather some information about yourself, as this will be valuable later.

Step 2

We will then request your information from your pension provider(s).

Pension providers have a duty to release the information to the LOA holder; usually this is done within 4 weeks (but don’t worry, this is normal and we will keep you fully updated along the way).

Once we have all of the information on your pension(s) back we can start our initial assessment, looking the performance, the management fees, your options at retirement and checking for any loss of benefits that may occur by switching.

We will also review the information obtained from you and together ascertain whether you could benefit from changing provider.

Step 3

After gaining your agreement to receive our advice, we will gather some final pieces of information from you that will enable the Financial Adviser to prepare your personalised Recommendation Report.

We will then deliver your report and discuss it with you, presenting advice on the reasons for changing to a new pension over staying with your current one.

The report is explained thoroughly and clearly outlines all the key facts you need to know. And don’t worry; we will be there to answer any questions you may have.

So call us today on 0800 131 0322 for a no obligation review of your own situation.

Why undertake your pension review with Periscope Wealth?

  • We are authorised and regulated by the FCA which provides you with protection.

  • We'll check the health of your current pension when we review it and only advise to switch if it benefits you.

  • We will provide you with regular communication, not just a statement and a letter once a year.

  • We are committed to the highest standards of client care.

  • All our pension reviews are fully transparent, free and have no obligation to proceed.

  • We provide tailored advice based on your personal circumstances.

Check out our latest news, views and opinion pieces below

13 June 2018

Funeral Plans: Not all what they seem?

Read More
2 March 2018

ISAs – Some Key Facts

Read More
Money 27 November 2017

The Autumn Budget 2017

Read More

Start your free no obligation review today!

Simply complete out enquiry form and a member of our expert team will be in touch.