Pensions
Finding the right pension for you can be a very complicated and frustrating experience. There are hundreds of variations on the market and unless you already know what you are looking for you can end up making a huge mistake by investing in a fund that doesn't guarantee the returns you need or expect.
At Financially Sound we are aware of the pitfalls associated with organising and arranging pensions and have put together some basic advice on finding the right one.
Pension Check list
You should be able to see the following in the key features document that comes with all pensions:
Most importantly: What are the charges? ie What are the fees or commission. What are the annual management fees thereafter?
- How flexible is the pension?
- Can you vary the amounts of your contributions without penalty i.e. on a rainy day?
- Can you stop making payments without penalty? If so for how long?
- Is there a waiver of contribution insurance included i.e. your contributions are covered by insurance if you can't pay owing to ill health etc? If so what are the details?
- What is the earliest you can retire and on what conditions.
- What's the position re switching pension funds. Could you leave the pension providers altogether? Can you have internal and external transfers.
- If it's not an actual Stakeholder pension is it "stakeholder friendly"?
- Are there any "extra features".
- Overall is it easy to understand or does it lack transparency? If it does, speak to us.
Remember, as an Independent Financial Adviser, our company has access to the whole market. We aren't obliged to work on the behalf of any one lender or provider and as such we work directly for you.
We have years of experience in the the pensions industry and will seek out the best deals based on your circumstances.
If you require any further information or would like to have a face to face appointment please give us a call on today. It may be the best financial decision you make this year.
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