If you have a personal pension or group personal pension you can often choose the way your pension funds are invested and can involve choosing through a range of funds or risk profiles.
Many clients already have some pension provision but have not reviewed this for many years. Hall-Ward are able to look at your current retirement strategy and we can assess how it fits your current financial position along with planning for your future.
If you don’t understand how the different pension investments work, it’s a good idea to get independent financial advice from Hall-Ward IFA before making any changes to your pension investment.
Along with reviewing your existing plans and how they can meet your objectives, we can also consider merging multiple pension pots if advantageous.
If you have various pension pots, there could be potential advantages if you combine them into one plan.
- Could save if you transfer to a scheme with lower charges
- Could offer a greater choice of investments
- Could have simplification of paperwork therefore being easier to manage
The decision to transfer would be made after a full analysis of your existing plans and how effectively these meet your ongoing objectives.
A pension is a long-term investment not normally accessible until 55. The value of your investment (and any income from them) can go down as well as up and you may not get back the full amount you invested. Your eventual income may depend on the size of the fund at retirement and future interest rates.