For some, pensions may seem ‘too complicated’, which can inevitably put them off saving for their retirement and, in turn, they seek to invest in other assets or even build up a cash pot for the future. However, the process does not need to be difficult or archaic as the concept is relatively simple.
This week is Pension Awareness Week and we have put together some articles and videos to demystify this important area of financial planning.
If you would like to talk to someone regarding your retirement planning contact one of advisers now.
Many UK companies still do not take the time to communicate effectively with employees who are nearing or at the point of semi or permanent retirement.
For some, pensions may seem ‘too complicated’, which can inevitably put them off saving for their retirement and, in turn, they seek to invest in other assets or even build up a cash pot for the future.
I wonder how many of our clients have, through lockdown, spent their time lovingly polishing their Lamborghinis and enjoying the fruits of their labours (when they were able to drive more than two miles) and hard-earned pension funds.
Dirty overalls and steel toe capped boots, with a face like thunder.
This is one of my favourite and lasting memories when engaging with employees regarding their pensions. I was on site at a business that understands the value of helping their employees save for their future by hosting one-to-one pension surgeries. The employer paid a generous contribution to their pension scheme too.
To consolidate or not to consolidate, that is the question.
It could well be one of the things you choose to spend some of your free time doing during retirement. Of course, you first need to have the funds available to stop working, or at least reduce your working hours, and a pension scheme that is fit-for-purpose should help you achieve this.