Your pension scheme annual reviews
The purpose of your annual review
To avoid your pension plans drifting away from their targets and to make sure you have a complete understanding of just where you are now for your retirement income planning objectives.
They say knowledge is power, and this is a real truism in relation to long-term financial planning, such as pension funding.
Your pension fund is an investment and, as such, would benefit from being reviewed regularly; annually is usually the most popular time-frame to choose for such a review.
The review is useful in that it looks at the following key aspects of your retirement income planning, as affects your company pension scheme at Avantia, specifically your fund with Royal London.
The agenda for your annual review
You will be offered a face-to-face meeting lasting up to 30 minutes with a qualified Adviser from Patterson-Mills, at which your pensions benefits and retirement income planning objectives will be re-assessed and updated.
The following items will be shown / discussed with you in respect of your Royal London Avantia pension plan.
- current fund choices and how each has performed in comparison to each other and the markets in general
- projections to your target retirement date, including likely income options
- investment fund choices and relative performance comparisons for each risk category
- re-consideration your chosen category of investment risk and objectives
- update on current and new legislation as affects both your pension fund since your last review
- agreement on future contribution rates that best meet your retirement income objectives and how you uniquely benefit from additional National Insurance Contributions being added to your fund by Avantia
