Important News About Your Pension

Important News About Your Pension

By the time you retire, your pension fund should have become your largest asset. It therefore follows that serious attention should be paid to the way in which this important part of your wealth is looked after.

Since the introduction of stakeholder pension plans during 2001, pension providers have continuously redesigned their plans in order to attract and retain new business.

The advantages to policyholders have been dramatic, particularly with charge reductions. Typically, a stakeholder pension plan will charge only 1% of the fund value per year, which represents a significant reduction against older traditional pension plans.

However, stakeholder plans have become increasingly restrictive in terms of investment fund choice.

Some providers have also developed extremely useful non-stakeholder personal pension plans where charges are kept low, but which also provide access to leading fund managers offering clients increased choice and the potential for greater investment growth.

It is important to remember, that a pension plan is an investment - Probably, the most important investment you will make.

Fund selection is a crucial aspect to pension planning and should be revisited periodically. For this reason it is important that your pension fund is periodically reviewed in order to identify whether improvements can be made, that will either increase the potential for fund growth, reduce your plan charges, or both.

On 6th April 2006, pension legislation underwent the most radical overhaul in recent history. This new regime impacts on all pension investors and gives further reason to review those pension plans.

At Professional Wealthcare in Camberley, we have been looking after our clients pension assets for many years. We find that people often have an array of funds from old employer schemes, or perhaps from contracting out of SERPS many years ago. For the client, this can seem like a 'minefield' of confusing facts and figures. We believe that with careful planning, significant improvements can be made to safeguard your future wealth and to simplify your retirement plans.

Further information can be obtained by calling our office on 01276 517700, or by emailing advice@professional-wealthcare.co.uk

Professional Wealthcare is an appointed representative of IN Partnership, the trading name of The On-Line Partnership Limited, which is authorised and regulated by the Financial Services Authority.