As a DWP pension report reveals 12 million people could be short of money in retirement, wherever you are on your retirement journey, this excellent on-line tool featured below could ensure your pension plans are on the right track.
Make It Your New Year’s Resolution To Check Your Pension
Don’t Leave Your Pension Planning To Chance
If you have a money purchase (defined contribution) pension, be it a SIPP, SSAS, personal pension, stakeholder pension or even if you’re a member of an employer money purchase scheme, it’s well worth spending a few minutes on Fidelity’s pension check-up website.
It covers every part of your retirement journey.
A Pension Tool For Everyone
You could benefit from using this tool if you’re in the early stages of building a pension fund.
Or you’re looking to maximise your investments as you diversify your pension across a range of asset classes.
Or you’re planning to stop work in the near future.
Or you’re in retirement and want to maximise your pension income.
Whatever your life stage, it’s designed to assess your overall ‘financial wellness’.
It’s a free service and it’s packed with lots of useful information, centred around an online questionnaire.
You’re guided effortlessly through a series of questions about your age, salary, savings and debt before being asked about your financial goals.
Having analysed the information, the tool identifies where you may need pension help.
The guidance and suggested action plan is tailored to you, whether your making first-time pension decisions, or whether you’re financially established.
You’ll be offered guides and questionnaires for further reading appropriate to your circumstances. You’ll have access to savings calculators, as well as information about your pension and savings more generally.
Whilst the tool is located on Fidelity’s American website, and the numbers are shown in dollars, the principles are the same on both sides of the pond. So if you’re asked for numbers in dollars, simply add them as if they were in pounds, and you won’t go far wrong.
Check Your Pension Now
Launch the pension tool.
Once you’re confident you’re up to speed with your pension planning, do your friends and relatives a favour and send them a link to this article.
It might just help them avoid being short of money when they come to draw benefits from their pension!
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