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Exeter | 01404 598 168 Colyton | 01404 598 168 Exmouth | 01395 207 350
 
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Choosing the right Pension

A pension is a savings plan with your retirement and tax benefits in mind. We believe that tax efficiencies are important, but they mean very little if the underlying investment performance within the scheme is poor. Choosing a pension plan with a wide variety of investment options and features is essential.

Many of the pensions we come across today were the best thing around at the time when they were sold. We often find that the funds chosen have not been rebalanced to reflect the current economic climate and the client's profile. Changes in the global economic circumstances, the length of time these pensions have been held and Government policy has left many older pension policies unable to adapt to today's needs with the options available.

We believe pension investments need to be reviewed at least annually. The funds available in the scheme should be able to follow geographical and asset diversity as we move through several economic cycles between now and the investor's retirement. For example, with profit funds were great in the 1970's, today very few keep pace with inflation, yet many retirement savers still have them as their only investment. This is often due to the scheme having no investment alternative or lack of investment revenue.
 

There are many thousands of investments available in the UK. It is unlikely that one pension provider will be good for all types of investment. A pension product offering only their 'in house' investments will limit choice. This may not be so important in the early days of retirement planning, but as the pot grows you will not necessarily want to go through an expensive and time consuming pension switch.

The Government has made changes to pension provision over time and providers have a habit of creating a new scheme with new rules rather than applying the new rules to their existing schemes. We prefer schemes that retro fit new features to existing plans to make life simpler for the investors.

Whether you are considering starting a retirement savings plan or consolidating a number of existing ones; choosing a scheme that is able to change with the times is an important factor to consider.

 
 
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Colyton Offices
The Mews, Queens Street, Colyton, Devon, EX24 6JU
Tel: 01404 598 168 
Exmouth Offices
32 Rolle Street, Exmouth,
Devon EX8 2SH
Tel: 01395 207 350
Exeter Offices
Briar House, Clyst Honiton, Exeter, Devon, EX5 2LZ
Tel: 01404 598 168
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