Pension Reviews: What You Need To Know

Pension Reviews

Pension reviews are a growing business, and for good reason. Many people have pensions, but too often those pensions aren’t performing as well as they could be. An underperforming pension now can have quite a dramatic effect on your retirement.

It’s been reported in some studies that a final pension can have as much as 20% difference in its value, depending on certain criteria. That’s quite significant. On that basis, a pension pot worth £500,000 in one situation could have been worth £600,000 in another situation.

If you’re still building your pension pot, now is a good time to learn more about pension reviews. This article will highlight the key points for you to bear in mind and consider.

Beware of The Pension Reviews Scammers

Before we address the main aspects and benefits of pension reviews, we should first mention about the scams to be aware of.

It’s a sad fact that wherever there is money, the scam artists, con men and cowboys won’t be too far behind. Never was that truer than it is with the pension reviews industry.

Of course, most pension reviews companies are quite legitimate. But knowing that charlatans are out there and really do exist is something you should be on the lookout for.

How do you spot these undesirable people?

There are no hard and fast rules for spotting the pension scammers, but you should keep the following in mind:

  • Unsolicited contact: If you are contacted out of the blue, either through a cold call, text message or by door-to-door, it pays to be wary.
  • Pressuring you: If the salesperson is pushy and urges to hurry up with making a decision, that should ring alarm bells. Your pension is your future, so you should be free to weigh your options before making any rash decisions.
  • Dubious contact details: Having a professional-looking and glitzy website doesn’t necessarily mean you’re dealing with a legitimate company. So check their contact details to get a better idea about them. If they only have a P.O. Box address rather than a physical address, or they only have a mobile number rather than an 0800 number, that should be a warning sign to you.
  • They avoid receiving calls: If the firm in question tries to avoid receiving calls in favour of calling you, this should also ring alarm bells. A legitimate firm will be only too happy for you to call them if you wish to. Similarly, if it would put your mind at further rest, they will probably be glad to have you in for a cup of tea too!

What You Can Expect From Us

A pension review with us here at is quite simple really. The main thing you’ll need to do is to sign a Letter of Authority (LoA) which acknowledges you give us permission to review your pensions on your behalf. You’ll also need to provide us with the details of your pensions too.

We then work closely with our team of financial advisers and look at your entire situation to see if you are getting the best value for money. If you could be getting a better deal elsewhere, we will advise you of this in the report that we send you.

The Specifics of A Pension Review

To find out if you are currently getting the best value for money, we’ll need to look at the costs versus the returns of your pensions.

The main criteria to look at in this regard are:

  • Investments: Where and how is your pension pot being invested?
  • Returns: What kind of returns are you getting from those investments?
  • Fees and charges: Pensions cost money to run. How much you are paying for yours?
  • Total amounts: If you have more than one pension, what is the state of the combined performance of all of them?
  • Projections: How much income are your current pensions projected to give you in your retirement?

Pension Investments and Return On Investments

When you pay into your pension every month, your money is combined with thousands of other people’s money and invested. Where and how it is invested will determine how much return you get on those investments.

This in turn will be a factor in determining the value of your pension and, therefore, what you are currently projected to receive upon your retirement.

One aspect of a pension review is in determining if your money is being invested in the best way for you.

Fees and Charges

As with just about everything in life nowadays, pensions cost money to run. And who else but you will have to pay those costs? Different pension firms have differing fee structures and charges. The differences can add up over time, which will impact the value of your pension (and, therefore, how much money you receive every month upon retirement).

Determining if the fees that you are paying are in your best interests is therefore another valuable aspect to the pension reviews process.

Pension Totals

Do you have just one pension, or do you have more than one? It is quite common to have two or more pensions. As such, it’s not just one set of figures that needs to be studied in a pension review but several sets of figures concurrently.

You may have one pension that is performing exceptionally well while a second pension is underperforming. This situation leaves you with the poor performance of one cancelling out the positive accruals of the other.

It’s important that you are making gains in all areas when it comes to your retirement funds.


This is the all important figure at the end of your pension review. How much are you projected to receive upon your retirement?

Armed with that figure now, you are in a much better position to make any necessary adjustments to make sure you are on track with your pension.

Pension Reviews Summary

A pension review is an incredibly important service to utilise in order to make sure your pensions are performing optimally for you. But beware, there are charlatans out there eager to part you from your money.

So before you get a pension review, be sure to check out the company you are thinking of using.

Once you’re happy to go ahead, a pension review will look at what you are currently spending in order to manage your pensions. It will also look at where and how your money is being invested to see if you are getting the best returns.

Once your pension review has been completed, you will be provided with a report that you can read at your leisure. If you would like to go ahead with the recommendations in your report, you can then let us know of your decision and we will make the necessary arrangements on your behalf.

You won’t pay anything for the service either. Not because we are one of the scammers that you read about earlier, but because we will earn a commission from the company you switch to for introducing you to each other.

Interested, But Have Questions?

You don’t need to make your decision right now. If you like the idea of having a pension review but have questions before going ahead, get in touch.

You can either call on our freephone number or you can pop your details into the short form at the top of the page and we will call you.