Pensions Wrexham
Why have your pension reviewed?
More often than not we set up our pensions to provide peace of mind in retirement. If they’re working well for us then retirement should be everything we want it to be.
But what if they’re not?
We may have set up our pension many years ago and whilst we still hope to achieve our retirement goals we don’t really know how well they are performing or what we can do about it.
For example, do you know where your money is invested and how well it is performing, does your investment match your attitude to risk, do you know what the charges are and do you know how much you will get when you retire?
Our service is all about focusing on giving clear advice on how your pension is performing and what you can do to improve it. By using our pension review service we want to make your retirement planning as simple and effective as possible.
Stage 1
Define the Relationship
The first step in our review is for our consultant to meet you and introduce you to Redfield and our Pension Review Service. This is a ‘get to know’ each other meeting during which we will gather all the necessary information regarding your pensions, it also provides you with an opportunity to ask us any questions you may have.
Stage 2
Gather Data and Agree Goals
Your Review will be allocated to one of our support team who send your signed letters of authority together with our information request to your pension providers. They will then liaise with your pension providers to obtain all the information we need to gain a detailed understanding of your current arrangements. Your Review will also be passed to one of our nancial advisers who will review the information. They may then contact you in order to ensure that we have a full understanding of your retirement goals and objectives.
Stage 3
Analysis and Evaluation
Once we have all the information back we will review your pensions taking into account the charges, fund performance, your attitude to risk, goals and objectives and any other benefits available. We then compare this with what is available in the pension market to improve your retirement benefits and add any other options that may be of value.
Stage 4
Present a Recommendation
We will then produce your Pension Review Report, this will incorporate all the information we have gathered regarding your existing pensions, it will reflect your retirement goals and objectives and, where possible, it will recommend any improvements that can be made. We will send your Review Report to you for you to read and consider and then arrange for your consultant to visit again and guide you through the report and answer any questions you may have. If there are any changes that need to be made these can be agreed at this meeting.
Stage 5
Implement the Plan
When you are happy that the recommendation meets your requirements we will then implement the recommendations made in your Review Report. If you accept our recommendation our standard Pension Review Service costs £1,495. However, there may be occasions when your pension review is more complex or more straightforward than normal, in which case we will contact you to explain why and agree the fee that should apply. Please rest assured that you will not be charged any fees unless you have agreed them in advance of any work being carried out on your behalf.