Independent Financial Life Planners Bishop's Stortford: Know about your pension investments

Monday, 2 March 2015

Know about your pension investments

In the run-up to the new pension rules being introduced in April 2015 it is worth knowing more about your pension investments. Recently Enable’s IFA’s in Bishop’s Stortford noted that “Two thirds of people contributing to a workplace pension scheme do not know which funds they are invested in, while close to a fifth have no idea what percentage of their salary they contribute to their pension.” as part of the results of a Moneywise.co.uk survey of 830 people. It seems to suggest that lots of people do not have a firm understanding of their pensions - even when they are contributing to a workplace scheme.

The survey also found that: of the 34% of people who know which funds they are invested in, 36% researched the funds online, 30% used their pension provider's literature and website, 20% stuck to the default fund and only 18% used a financial adviser. The survey respondents contributed an average of 6.19% of their salary to their pension scheme each month, but a third said they contributed 5% or less, while just under 14% contributed 10% or more - and 16.5% had no idea how much they pay in to their scheme. Just under a third of people (29.98%) did not know how much their employer contributed to their workplace pension scheme. But 16% of respondents said their employer paid 10% or more of their salary into their pension, while 10% said the employer pays 5%.

With so many people not knowing what they are invested in or how much they are investing, it's clear there is a need for independent financial advice when it comes to pension investing. If you are concerned to make the most of your retirement and want to make the most of the new pension regulations Enable’s IFA’s in bishop’s Stortford are here to help.

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.