Pension service providers usually provide a yearly forecast, which tells you both how much your pension fund is worth and how much money you can expect to receive if you continue with the same plan of pension contributions.

The final value of your pension fund depends not just on how much money you have contributed, but also how well the pension fund’s investments have performed.

Additionally, there may be charges to be paid by your pension service provider which can reduce the final value of your pension.

In our experience, many people generally pay pension funds charges that are larger than necessary for the proper administration of their pension plan. This can cause them to lose value for money and, ultimately, lose money on the final value of their pension. If you think your current pension service provider’s charges are excessive, call us on 0141 331 0660 for independent advice.

When can you cash in your personal pension?

You can take your personal pension (also known as a private pension) from the age of 55 in the UK, although most people wait until they are older than 60 years old before cashing in their pension. It is possible to wait until you are 75 years old before cashing in your pension.

It is possible through some pension schemes to take your personal pension before the age of 55.

Pension Income Advice Glasgow

We are widely recognised as pensions specialists in Glasgow, with a particular reputation for our active stance in providing individual and bespoke opportunities for our clients.

Approximately 80% of all pensions reviewed are found to be under-performing and in many cases yield less than a third of the potential offered.

If you think this might be happening to you, or your company, please give us a call for a free, no obligation initial review.

It is important for you to take charge of your pension plan now, before it is too late.

Acting now could make a huge difference to your future financial security. It could enhance the performance of the investments in your pension, and lower your management fees.

Call us on 0141 331 0660.