1 |
You are dealing direct with the bank or insurance company |
This means no one is looking out for just your interest |
2 |
Your pension is invested in the default fund of ‘Managed’ or ‘With-profits’ |
Check your last statement. Default is the ‘unplanned’ option |
3 |
You started the pension before 2006 and have not had an independent review of the policy charges |
Older policies have older charges |
4 |
You have not had a review of the investments in the last 18 months |
The investment market changes, your pension should keep pace |
5 |
You don’t understand the paperwork |
How do you know it is the best |
6 |
You have not been asked how much investment risk you want to take with your pension funds |
Higher risks can be taken in the longer term. Low risk often means low return |
7 |
You haven’t increased the amount you are saving as your income has gone up |
|
8 |
You are a company director paying into a personal pension |
You could be throwing away a 20% saving |
9 |
You are keeping your income (or your partners) just below the NI threshold |
The biggest ‘money saving’ mistake you could make |
10 |
You are going to take the pension offered by the insurance company without getting independent advice |
See the ‘Retiring now‘ page |