Pension Switch Advice
Can I switch a pension? If you don’t know how much your pension is worth or how it will be paid out, you’re not alone. A pension statement should be as easy to read as a bank statement. i.e. This is how much you put in, how much interest you made, and how much will be available to you. However, and this is an industry-wide problem, it almost seems like they’re designed to be hard to read. In our view pension statements don’t give people super clear information because they probably don’t want you to decide to switch your pension. So how can you work out if you need a change? Well, you could phone us. How to switch your pension First off, we are an independent pension advisory service. That means we sound different from other pension providers. Because any advice we give, we can offer without trying to keep you in a fund that we operate. You’ll learn more about pensions in a 10 minute phone call with us than from 10 years’ worth of statements. And it all starts with a phone call. (We call it a Pension Review) We ask you for some details but we make it as fast and easy as possible. Like, you can just take photos with your phone to send us info. There’s no need to scan decades of statements. Then we do the running round looking up the details of your pension/s. We’ll even track down any ones you’ve lost track of over the years. Why switch your pension? If we find you’ll get a better deal if you switch your pension (happens in every 7 out of 10 cases) we’ll tell you. And that’s it. There’s no pressure to do anything more. If you want to hang up the phone there and then we promise never to call you. Truly. Calling us is not inviting months of marketing spam into your life! But if you haven’t reviewed your pension in the last year, then it might be time to check out a pension switch. And if it’s been years since you checked your fund, then it’s high time you had a pension review. Don’t delay, every month management fees could be eating into your pension pot.