Smart Pension’s Post

🚨 £31.1bn in Lost Pension Pots – Could Some of It Be Yours? 🚨 Recent data in the article below reveals a staggering £31.1bn in unclaimed pension wealth, with 3.3 million pots considered "lost." If you're between 55 and 75, the average value of these lost pots could be as high as £13,620! Many of us have switched jobs frequently, and it’s easy to lose track of pensions along the way. But with the government committed to launching Pension Dashboards soon, there’s no better time to take control of your financial future. 📞 Start today—reach out to learn how you can consolidate your pension savings and secure your financial future! #RetirementPlanning #PensionSavings #FinancialFuture #PensionDashboard #LostPensions

If you do one good thing for your finances this year, make it to get clear about your pension arrangements! It may not be very exciting but it’s certainly important. Especially when you consider that more than 50% of people in the UK don’t know what happens to their pension when they die, according to the Money & Pensions Service. Good financial planning is the precursor to making pension arrangements. With a financial plan, you can: ➕ Know how much money you need for the retirement lifestyle you desire ➕ Know how you will achieve the income you need for retirement ➕ Know when you are likely to be able to retire Speak to a member of our team about your retirement planning. And don’t think this is just for people who are in their later years. In fact, good retirement planning cannot start soon enough. https://lnkd.in/daTrXNas

As it's Pension Awareness Week, we take a look at whether you should consolidate all your old pensions into one: https://lnkd.in/ebaNeHMr

https://lnkd.in/dk459J6w MoneyWeek presents an intriguing article highlighting hidden costs in pensions. The engaging headline piqued my interest, prompting me to delve deeper into understanding these expenses. The article provides balanced perspectives, emphasizing the critical need for pension holders to review and optimize their investments promptly. Furthermore, leveraging tools offered by your provider is essential. For instance, Standard Life’s “Retirement Planner” tool is specifically designed to empower individuals in shaping their financial future. Take advantage of such resources to ensure proactive management and maximization of your pension benefits.

If you have moved address or jobs frequently in the past and not received annual statements, you may have a pension you have forgotten about. Where the provider cannot get hold of you, after a certain amount of time this becomes dormant and form part of the Government's Dormant Assets Scheme which means the funds would be used for charitable purposes. Perhaps not the worst outcome and better than be used to fund MP's expenses, but importantly it means it hasn't benefitted you! A number of unclaimed pensions could be the difference between you living a comfortable retirement or worrying about your spending, it could be the difference between helping children/grandchildren, it could even be the difference between you retiring now or needing to work longer. We are all exceptionally busy, but carve out some time, make a tea or coffee and grab a bit of cake and make sure you know where all of your pensions are. Even if you identify you do have them all, you will have valuable peace of mind. Should you require advice regarding your pensions or retirement plans, please call on 01603 760866.

Millions of pounds are sitting in unclaimed pensions in the UK - so if you've ever wondered what happened to that pension from the job you had years ago, now is the time to track it down. Don't lose out! Read on for the 4 SIMPLE STEPS to using the Pension Tracing Service to track down your pension. https://bit.ly/3zhKkSU

A new study has given insight into how confident British pension holders feel about their retirement prospects 📝 The research, conducted for consultancy Barnett Waddingham, suggests that almost half (48%) of those with Defined Contribution (DC) pension plans admit they don’t feel optimistic about their future financial resilience in retirement. It also highlighted how older workers tend to feel less secure in their prospects than younger adults. Read more: https://lnkd.in/e5gNi8-H #pensions #pensionage #investment #retirement #retirementplanning #savings #financialresilience #financialplanning #study #research

Millions of pounds are sitting in unclaimed pensions in the UK - so if you've ever wondered what happened to that pension from the job you had years ago, now is the time to track it down. Don't lose out! Read on for the 4 SIMPLE STEPS to using the Pension Tracing Service to track down your pension. https://bit.ly/3zhKkSU

You could uncover “lost” pension savings and boost your retirement by tracking down old pots you might have forgotten about. It's estimated there are 2.8 million "lost" pensions with a combined value of £26.6 billion. So, paying attention to your pensions could offer you greater flexibility when you retire. Read our blog, linked below, to discover 5 helpful steps you can take to track down your pensions.

An important day for your Calendar: National Pension Tracing Day on Sunday, 27th October    This important day serves as a timely reminder to review and locate any lost pension pots.    A recent report from the Centre for Economics and Business Research and PensionBee, March 2024 indicates that an estimated 4.8 million pension pots are already missing in the UK, with that figure set to rocket by 130% by 2050. Furthermore, according to research from the Pensions Policy Institute, the total value of lost pension pots has grown by 60% since 2018, amounting to approximately £31.1 billion in unclaimed or inactive funds.    As job switching becomes more frequent and Auto-Enrolment influences the pension landscape, the number of UK pensions is set to rise.   Need assistance?   The Government provides a free pension tracker service to help you locate your lost pensions. Access it here: (https://lnkd.in/edUDeV3p)   Don’t miss out on receiving pensions that could make a real difference to your pension pot. Why not add this important task to your to-do list this Sunday!   In the meantime, if you need to discuss your pension why not speak to one of our advisers today. Call 0207 709 5560.