Dig out your pension paperwork

It’s always a good time to keep an eye on your pensions, but as mentioned, as allowances have reset, now it’s a really good time to take a look at your pension savings.

If you have moved jobs a few times, this may seem daunting. But it’s super worthwhile as your hard earned savings could be in poorly performing investments or accounts charging a lot. All pension providers are required to send you an annual statement, so this is the best place to start. However if you have not received one of these in a while, then the next best thing to do is contact your employer or former employer and get the details of who your pension is with. Once you’ve got this information you can then contact the provider and request details of your current pension value and see how much you’re being charged by your pension provider.

Seeing how much you’ve got tucked away will also help you see how much you need to meet those retirement dreams. Knowing how much you’ve got, you’ll be able to set yourself a target on how much to save, meaning that around the world trip in 360 days can come true! And remember even putting a tiny bit more in extra could make a huge difference, especially if retirement is still a bit of a way off.

For those of you juggling multiple employee or personal pensions you’ve built up over the years, there are plenty of low cost providers who make it easy peasy to combine all those pensions. Meaning that you can really keep on top of that retirement dream fund.