Do you know the value of your pension pot?
The new pension freedoms place even greater responsibility on individuals to take control of their own finances. Since April 2015, individuals have been able to spend their accumulated pension savings in way that suits them.
Yet despite this most radical of changes to pensions in a generation, we regularly see people who do not know the value of their pension savings.
If you don’t know the size of your pension pot, you should initially speak to your pension provider and get a statement. Taking control and knowing what you have can help you plan to make your savings work harder for you in retirement.
The new pension freedoms place a huge amount of responsibility on people to manage their own financial affairs and to make choices that will impact their standard of living in retirement.
This is not something that people can be complacent about. So if you have any doubt, I recommend that you seek proper independent financial advice before making any decisions.
