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Pension Plan Analysis

Personal Pension plans have improved significantly in recent years mainly as a result of the many legislative changes and taxation changes not least of all the 'Freedom & Choice in Pensions’ legislation that came into force in April 2015.

Pensions have evolved for the better and have, in the main, changed from high charging, inflexible products with a minimal amount of investment choice (often leading to poor returns) to now offer a vast array of investment options and are generally much more competitively priced - especially in the case of the new style of 'Open Architecture' pension plans .

It is therefore vitally important that existing pension plans are reviewed on a regular basis.

Our detailed analysis of your existing pension plan/s will evaluate each scheme to ascertain:

  1. The overall cost of the plan by examining each and every charge that is applied to your pension
  2. The amount of investment choice and different investment funds available
  3. Whether the plan includes valuable features and benefits such as 'Guaranteed Annuity Rates' or higher levels of tax free cash
  4. Any penalties that may apply if you transfer your pension to an alterative pension plan & whether this would be beneficial to do so
  5. How the overall costs of your current plan compare to those of alternative plans that are available
  6. A combined analysis of all of your pension plans (if you have ore than one) and whether you would benefit from combining (consolidating) your plans together
  7. The overall level of retirement income you can expect from your pension plan/s

Once we have completed our analysis we will provide you with a detailed Retirement Planning Analysis Report - you can see an example of this report by clicking on the following link: Example Report

We will also provide you with a detailed Financial Planning Report which will confirm our retirement planning recommendations and the reasons for these recommendations

To undertake a detailed analysis of your pension plan/s, please contact Provident Solutions today on 0116 2592371 and we can arrange for a comprehensive review of your retirement plans.

 

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