Why having a trusted pension adviser on your side is more important now than ever

In a fast-paced, ever changing world it’s often tempting to live in – and focus on – the here and now; after all, for many, retirement may seem a lifetime away.

We often pay lip service to our pensions – a cursory glance at our wage slip or a fleeting thought if a related advert appears on the television.

On the other hand, some do carefully consider and pay attention to their pension plan (or plans!) – how much they are paying in; what the current balance is; how much they will be left with and when they can withdraw from the pot. These are all sensible things to be thinking about.

However, as the world around us changes and people live longer, even those who place great emphasis and importance on their pensions can find themselves entangled in a complex, constantly- moving pensions climate.

And pensions do, of course, affect different people and different groups of people in a multitude of ways.

For example, almost four million women born in the 1950s have seen their state pensions rise from 60 years of age to 65 in 2020; which brings the state retirement age in line with men. This is set to increase further over the coming years.

The crux of the matter? It’s that retirement deserves to be one of the most contented, happy periods in your life. After decades of working, the least you can expect is a post-work future that you’ve worked so hard for – and for so long – that is free of financial burden after a lifetime of earning.

However, the above context outlines how volatile and changeable the world of pensions can be; open to both economic and political influence.

Whether you’re approaching retirement age or still have decades of work ahead of you, the time to start thinking about your post-work future – and the integral role pensions will play in that – is now.

Here are just a few of the many reasons why having a trusted, experienced and professional pensions adviser in your corner can help ensure your retirement is stress free and, essentially, the longest holiday of your life.

Maximise your options

As alluded to earlier, while retirement is a commonly shared goal, how we get there and what we do with it is ultimately very personal. A trusted adviser can offer a detailed, bespoke service to you based on your specific needs. When it comes to financial security in retirement, an off-the-shelf approach often just doesn’t cut it.

Shifting landscape

You may have all your ducks in a row and you may know exactly how your pension is looking but with a dedicated adviser on your side, you can stay on top of any fluctuations and changes to the political and/or economic environment – so whatever happens, you’re up with the curve.

Peace of mind

Perhaps the most important. Whether it is in pre- or post-retirement, what price can you put on knowing that you’ve made the right calls and that your pension is or has worked as hard as possible for you to ensure a great quality of life in retirement?

Here at Wills & Trusts, we don’t just review your pension and the pension landscape on an ad-hoc basis. We treat it like any other financial investment and make sure that day in, day out your pension is working hard for you.

Paula O'Reilly

December 16, 2019