Pension Review
The closer you are to retirement, the more important it is to be financially prepared—and a qualified specialist pension review is key.
A pension review is a core part of retirement planning. It’s a proactive way to check your plans are on track and your pensions are performing as they should.
Below we cover the benefits of a review and the essential information you need to know.
What is a pension review?
A pension review is a comprehensive assessment of your pension schemes—think of it as a health check for your pension pot(s).
You’ll speak with a regulated pension specialist who reviews performance, charges and suitability.
This ensures you’re on course for the retirement income you need and helps identify any gaps or changes to consider.
A review will typically consider:
- Tax considerations
- Your retirement plans and goals
- Legislation changes
- How your pension(s) compare to similar schemes
The benefits of a pension review
Your pension funds your lifestyle throughout retirement, so keeping it aligned with your changing life and goals is critical.
Regular reviews check performance against objectives and can highlight improvements you might otherwise miss.
For example, consolidating pensions can reduce charges, streamline admin and make it easier to view everything in one place.
Even after consolidation, reviews help confirm the portfolio still matches your risk profile and time horizon.
Reviews are especially valuable for expats where cross-border rules, residency and tax planning add complexity. An adviser with expat experience can explore options tailored to you.
Financial planning with Holborn?
Holborn can help you make way more money than you have now.
What is the pension review process?
A regulated specialist analyses your pensions and helps optimise them if needed. While personal to you, a typical process includes:
- Clarify goals and risk tolerance
- Conduct an in-depth review of existing pension plans
- Analyse investment performance
- Evaluate fees and charges that may impact returns
- Recommend ways to improve outcomes
Learn more about choosing the right professional in how to choose a financial adviser.
What types of pensions can be reviewed?
Broadly, two UK pension types are reviewed:
Defined Contribution pensions
These include workplace and private (stakeholder/personal) pensions.
- Workplace pensions
- Private pensions
Defined Benefit pensions
Usually employer schemes (final salary or career average) that pay a guaranteed income. UK law requires advice from an FCA-regulated adviser for DB transfers over £30,000, with permissions for “advising on pension transfers and opt-outs.”
For more on UK pension types, see the UK government guide.
Review your pension with Holborn Assets
The more you prepare now, the more confident you can be later.
A review gives you a clear picture of where you stand versus your goals.
Our advisers carry out detailed checks and help optimise and maximise your pension’s potential.
Make sure your plans stay on track. Book a free pension review and see how we can help.
