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Testimonials
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Tim Barkley
CEOProin fermentum, augue id porttitor condimentum, tellus nisi dapibus est, ultricies malesuada metus massa a orci. Donec consequat ornare erat,
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Leonardo Portland
ManagerWhat is the purpose of a pension review?
A review will provide you with a ‘snapshot’ view of your current pension savings position, along with giving you some indicative projection of what your likely pension fund and retirement income position may be, at the age you expect to retire or commence income drawdown.
The pension review will provide you with information so that you will know:
– The current ‘pension fund’ value held with each of your current pension providers.
– Your current provider’s forecast of what this fund might be at your expected retirement date
– What income and other benefits are to be provided by your pension provider(s)
– The level of fees being deducted by your current provider(s)
– Historic fund performance in terms of growth or loss of your existing pension provider(s)
– Information to help you better understand how pensions work
– Information on the options open to you for your future pension saving strategy
Who will undertake this review?
You have a choice as to who you invite to undertake the review:
Independent Financial Advisor (IFA) Review
You can choose that your review is undertaken by a duly authorised and regulated Independent Financial Advisor, which in addition to providing the information outlined above, will ensure that you are given a professionally advised set of recommendations.
This review will be more suitable if you wish to rely on the advice of an experienced pensions’ advisor and / or you do not feel able to fully understand your pension options and take complete responsibility for your pension related decisions.
KYP Information Only Review (Non Advised)
You may prefer to have an ‘information only review’ which will provide you with the same information as above, BUT will not make any recommendations or provide you with any advice.
This review may be more suitable if your preference is to increase your personal management of your pensions’ strategy, and make your own decisions, and you do not wish to engage professional advice.
What happens next?
The process for both IFA Advised review, and Information Only Review is very similar. We will:
– Write to each of your pension companies requesting current information on your pensions
– Provide you with information on your options which may include :
• Staying with your existing pension providers
• Changing / consolidating to other ‘traditional’ pension providers
• Setting up a Self Invested Personal Pension (SIPP) or Small Self Administered Scheme (SSAS)
– Research the fund performance of each of your current pension investment
– Research information to support your particular stated interests, circumstances or financial objectives which may include:
• Annuity information
• Drawdown Information
• General Pensions information
• How to maximise tax relief on your contributions
• Allowable investments
Disclaimer
Know Your Pension is a trading name of AP Investments Ltd. Know Your Pension do not give financial advice and are not authorised or regulated to do so. We work with partners, as introducers, who are regulated by the Financial Conduct Authority (FCA) and we can introduce you to Independent Financial Advisors (IFAs) who are authorised to give financial advice if you would like us to do so. Know Your Pension would not be liable for any financial advice provided by or obtained through a third party. The website is for information purposes only, to assist you in gathering information so that you understand what pensions you have and what you want to do with them.