What is a no obligation pension review?

If you are thinking of reviewing your pension then this guide is for you. And one of your first questions might well be, “why would I want to review my pension?” We will cover this and more, finishing up with answers to some questions we are often asked.

The headline facts

We get it, pensions can be dull. The exciting bit is what you ultimately get from them: the opportunities, the freedom to live the life you want, to treat yourself and others. This is why looking after your pension is so important, to make sure the exciting bit is as good as possible.

The simplest way to look after your pension is to get it reviewed by an expert and the cost for this can vary. We believe you shouldn’t have to make any sort of commitment, financial or otherwise, to find out how your pension could be improved. That’s why the only type of pension review we offer is one that comes with no obligation. Before we explain what this means in a bit more detail, let’s look at some of the most common reasons for reviewing a pension in the first place.

What is a no obligation pension review

Why should I review my pension?

Your pension could have a big impact on how you live your life in the future. So, if it’s not performing how you need it to then the sooner you review your pension and make any necessary changes the better, whatever stage of life you are at.

Your questions answered
Are you currently saving into a pension?

Even just small tweaks could improve your pot by thousands of pounds in the long term.

Are you thinking about the pension freedoms?

If you are aged 55 or over you have a lot of options when it comes to taking money from your pension. It’s best to check which one is right for you before making any decisions.

Are you thinking about retiring in a few years?

There are some great new pension products that will protect your pot from stock market crashes without severely affecting its growth.

Are you thinking about a retirement income?

If you are ready to take an income from your pension then the decisions that you make now could go a long way to making your plans and dreams a reality.

Free pension information guide

Free pension information guide

Simply fill in our form and we will post out a pension information guide to you today!

What does a no obligation pension review really mean?

To answer this question let’s first look at the absolute minimum you should expect from any type of pension review:

  • A clear picture of your current pension, how it’s performing and the options available to you.
  • An assessment of your current circumstances including what you want to achieve, both now and in the future.
  • A recommendation for your pension clearly detailing how any suggested changes should help you to meet your objectives.
  • An explanation of any benefits you might lose by transferring away from your current provider and how the recommended change could compensate for this.
  • A quote for how much it will cost you to follow the recommendation and how your pension would be managed in the future.

So, what’s the no obligation bit all about? Quite simply:

  • You will not have to pay a penny for your pension review or recommendation.
  • There is no commitment on your part to follow the advice you receive. If you decide that the recommendation is not right for you then you can walk away…with no obligation.

How do I know who to ask for a no obligation pension review?

You should only use a regulated financial adviser; you can find all of these listed on the Financial Conduct Authority register (link to register). For example, our company number is 754580. If a company you are dealing with is not listed then they are not authorised to give regulated financial advice.

Even if a company or adviser is listed it doesn’t mean that they can offer you a no obligation pension review. If you are not sure then why not get in touch with us. We have already helped more than 14,000 clients with their pensions and currently look after more than a quarter of a billion pounds worth of savings.

A FREE pension review with Portafina

We will help you make the right decision about your pension, with advice that’s refreshingly frank.