Review My Pension
Is your pension working for you?
If you are going to achieve your income objective in retirement you need to ensure that your retirement planning arrangements are optimal for you. You need to ensure;
- That you have a product which is the most advantageous for your situation
It’s not unusual for a pension saver to be eligible for more than one type of pension. Why do you have the one you have?
- That your product doesn’t have heavy charges which will reduce your eventual pension fund
What is the allocation rate on your pension (how much of your monthly premium is used to purchase units in your chosen funds)? What is the annual management charge (the amount you are charged by the pension provider each year)? Are there any other charges?
- That you have an investment strategy
Why are you invested in the funds your pension is allocated to? If you are invested in a number of different funds, is there a reason for this or is the fact that you are invested in several different funds a sign that there is no strategy?
- If you have more than one pension will your combined pensions provide you with sufficient income for your retirement.
You can see a good example of how we helped a client to determine this and take corrective action in good time here.
If your pension isn’t optimised for your situation then you may end up with less income in retirement than would otherwise be the case.
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The material and information contained on this website is for general information purposes only. Neither the writer nor Highfield Financial Planning Ltd makes any warranty as to the completeness, accuracy or reliability of the information or the suitability or availability of products or services, referred to on the website, for any purpose. You should not rely on any information contained on this website as a basis for making any financial, legal, taxation or other decision. The information presented does not include all the considerations which are relevant to the topic discussed as to do so would render it un-readable. When considering any financial issue you should seek the advice of a suitably qualified adviser.
Best Pension Advice is a trading name of Highfield Financial Planning, the most client focused financial services company in Ireland. We provide superior advice on Retirement Planning for all types of pension available in the Irish market. As Specialist Investment Advisers we can also help you to manage the investment of your pension to achieve your income objectives in retirement.