Page 49 - Phonebox Magazine May 2009

Finance Matters
brought to you by Advison Independent Financial Advisers
Have you reviewed your Pension lately?
It is often quoted that the largest asset you will ever own is your house and for many people this is indeed the case. However, what of the second largest asset? As with the house, this will differ from
person to person but it is not unreasonable to suggest that for many people this will be their pension.
For those who spend all, or the vast majority, of their careers being employed as a civil servant (such as nurses, teachers, the police etc) this is very likely to be the case. However, their need to review the pension on a regular basis is not as great as those with a private pension. This is because they have a government backed scheme and the main consideration for those in such schemes is whether to put further money away into an Additional Voluntary Contribution. How the actual pension fund is being managed is down to the Trustees of the scheme and is out of the individual’s control.
For those in the private sector, without such generous schemes, the value of their pension can still build up to be worth a considerable amount and ensuring that this is managed effectively is very important. However, despite the value that pension funds can reach, many pay far more attention to their other savings and investments, such as ISAs, than they do to their pensions.
It is fairly common for us to meet clients for the first time and find them with reasonable size pension funds which have been invested in the same fund for 20 years without any review having taken place as to the suitability of this fund. Traditionally, the vast majority of pensions of this type have been invested in either a With Profits fund or a Managed Fund.
However, pensions today provide a far wider selection of funds to choose from compared to 5 or 10 years ago and there are far greater opportunities to build a bespoke portfolio to suit an individual’s personal circumstances. Bearing in mind this is the money that will provide an income for you for the rest of your life, once you retire, reviewing where you stand with your pensions is essential sooner rather than later.
This has never been more the case than now. With the recent turmoil on the financial markets we have seen negative returns from Equities, Corporate Bonds, Commercial Property and even some Cash Funds! As ever, low values on any market provide opportunities going forward and a thorough review of your pension funds and how they are placed for the next few years is vital if you are to maximise the growth opportunities for your policy.
Expert independent advice is essential to ensure you make the most of the opportunities available for you and to establish an effective strategy. Unlike many IFAs, Advison not only provides the initial advice you require but also produces regular personalised reviews of your Investments, Pensions and Protection Policies, enabling us to ensure the assets you hold are still relevant to your circumstances. We would be pleased to discuss your specific situation and plan the most appropriate course of action for you. For full details about Advison please see our advertisement below.
advison
Independent Financial Advisers
Advison is a small, friendly and reliable firm specialising in Investments, Retirement Planning and IHT Mitigation.
We offer a return to the traditional values only a smaller company can offer, a service we find
is appreciated by the more discerning client. We are happy to see you in the comfort of your own home or at our peaceful and relaxed country offices, which have plenty of free parking.
All staff at Advison is either AFPC or FPC qualified.
----------------This is your opportunity to speak with the experts----------------
• Planned Savings Magazine – National Estate Planner of the Year
• Regularly quoted in the national press for over 10 years
• Used as financial planning experts on BBC, Sky, CNBC, Bloomberg, Simply Money and the Money Channel • Choice Magazine’s Pensions and Trusts expert
Call Kevin or Andrew for a preliminary chat or to arrange an appointment.
No 7, Water End Barns, Eversholt (Nr Woburn), Beds. MK17 9EA T: 01525 288488 E Mail: ifa@advison.co.uk
Advison Ltd is an appointed representative of IN Partnership the trading name of The On-Line Partnership Limited which is authorised and regulated by the Financial Services Authority. Registered (England) No. 5009271
Phonebox Magazine 49