Pension Review Service

Older couple sat by a lake

If you aren’t sure what’s going on with your pension(s), such as how it’s performing or whether or not you’re getting the most out of it, we can help.

At Unite Life, we offer a free service of reviewing your pension so you know exactly where you stand, what to do going forward – maybe it’s fine as it is and you don’t need to do anything at all! Our review service will put you on the right path.

To find out more, read this guide or get in touch with us today to receive independent advice, obligation-free.

What is a pension?

A pension plan is essentially a retirement fund – an amount of money there for you to spend however you wish when you retire and are no longer working.

To build up a pension, you and your employer pay into a ‘pot’ over the years during your employment, which is a great way of saving money for when you retire. One of the main benefits of this is that you get tax relief on all pension payments made.

If you are employed, you should be automatically opted into the government pension scheme, more commonly known as the state pension.

Usually, when it comes to retirement, you have a couple of options:

  • Take out the money from your pension pot.

OR

  • Exchange the money with an insurer so that you can have a regular income until you pass away – this is known as an annuity.

Depending on the type of pension you have, there will be a set age for when you can take money from it. Usually, it is not before the age of 55.

Why should I get my pension reviewed?

As most people find the state pension to be too low to help build up a substantial retirement fund, they might take out a private pension that they pay into themselves every month.

What many find is that after working in different places throughout their life and paying into different pension schemes (including a private pension), they don’t know what’s going on with it all and where they stand.

This is where a pension review comes in handy.

It’s a really good idea to have your pension reviewed, as it can assess the following:

  • If the amount being put into the pension will be enough for when you retire
  • Where exactly your pension is being invested
  • Whether you are happy with your pension(s) and how they’re performing
  • If you have frozen pensions from previous employment and what should be done with them
  • If you are being charged any fees and whether or not they are too high

Overall, it can help put your retirement fund in order so you know where you are and what you’re aiming for when it comes to planning for your future.

Why get a free pension review with Unite Life?

Here at Unite Life, we have qualified, experienced and friendly advisors who can help review your pension fund and any other pension pots you may have.

We can assess your situation and give you impartial advice on what you should do next to make sure you’re getting the most out of your funds and you’ll have plenty saved up for when you retire.

All of our initial advice is free and you are under no obligation to take further action with your pension – it is entirely up to you.

If you do choose to go with our advice and recommendations once we’ve reviewed your pension then a fee will apply, but we will explain this in detail so that you know exactly what’s going on throughout the process.

For more information, don’t hesitate to get in touch with us today and we’ll make sure you’re on the right path to having a comfortable and secure retirement.

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Unite Life can help you save on insurance – get in touch with us today!