8 Top Tips For Improving Your Pension Pot!

Even if retirement isn't far away, there are steps you can take to increase your retirement income to set yourself up for a lifetime of financial security.

Here are 8 practical tips to ensure your pension pot is as healthy as possible! 

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1.Review your pension regularly 

2.Consolidate Pensions

3.Monitor Pension Investments 

4.Watch out for high charges 

5.Review your investment risk

6.Maximise your pension contributions 

7.Salary Sacrifice

8.Don't forget the spouse's allowance

Rules which took effect in 2015 mean investors have more freedom than ever when deciding how to take their pension. More choice can often increase the risk of making a poor decision.

If you have been put off planning and saving due to lack of understanding, you're not alone. 

Planning will help you think about the changes you could make and enable you to take steps towards securing a better future. 

Things you should think about: 

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    Work out your likely retirement income
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    Consider ways to boost your pension
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    Budget for day-to-day spending after you retire
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    Clear any debts
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    Think about when you would like to start taking your pension

Do you have your pension planning in order? If not, please contact us NOW!

It is important that no actions should be taken without advice, and the risk warning should be taken notice in all cases. Personal circumstances and risk profile mean that the advice for one person which may not be the same for everyone.  

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About the Author

By Nigel Reeves: My mission is to provide the quality, honest & jargon-free pension advice that people need to secure the retirement they deserve. At home, I'm a family man and an active supporter of grassroots sports!

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