Why now is the best time to review your pension
When it comes to retirement planning, one of the most common mistakes is assuming your pension will “just work out” when the time comes. In reality, small adjustments now can make a big difference to your future lifestyle.
Things to consider:
- How much will you actually need? Many underestimate day-to-day living costs in retirement, especially with inflation.
- Are your contributions keeping pace? If your income has increased but your pension contributions haven’t, you may be missing out on valuable tax relief.
- Are you invested appropriately? As retirement approaches, you may want to adjust your investment strategy to balance growth and security.
- Do you have old pensions scattered about? Consolidating can reduce fees and make managing your retirement savings easier.
Action step: Book a pension review to see if you’re on track. A quick check now could mean thousands more for your future self.
