As retirement gets closer, it’s natural to start asking some big questions: Will my pension be enough? Have I saved enough? Am I on the right track? If these thoughts have started to cross your mind, it might be time for a pension review.
At The Bateman Group, we work with individuals who want clarity and confidence about their financial future. A pension review is more than just checking the numbers, it’s a chance to realign your plans and ensure your savings are working hard for the retirement lifestyle you’ve been dreaming of.
Here are seven signs that you could benefit from a pension review:
1. You’re Within 10 Years of Retirement
The final decade before retirement is one of the most important times to get your finances in order. With fewer years left to make contributions, every decision carries more weight.
Now is the time to ask:
- Am I saving enough?
- Will my pension support my lifestyle?
- Should I adjust my investment strategy?
A pension review with The Bateman Group helps answer these questions, giving you clear projections based on your current pensions, spending goals, and timeline.
2. You Have Multiple Pension Pots
Over the course of a career, it’s common to accumulate several pensions from different employers. But managing them separately can be confusing and costly.
Consolidating your pensions could:
- Reduce fees
- Simplify your retirement planning
- Improve investment performance
We’ll review your existing pots and advise whether consolidation is right for you, ensuring you don’t lose track of your hard-earned savings.
3. You’re Unsure What Your Pension Is Worth
If you haven’t checked your pension value recently, you might be surprised. Many people don’t fully understand what their pension is currently worth or what it’s expected to pay out at retirement.
A Bateman Group pension review provides:
- A clear valuation of all your pensions
- Insight into how they’re performing
- A forecast of your expected income
Armed with this information, you can make more informed decisions about your future.
4. You’re Worried About Outliving Your Pension
Worrying about running out of money in retirement?
A pension review can help you:
- Understand sustainable withdrawal rates
- Plan for different retirement phases
- Build in safety nets for unexpected costs
We help you create a strategy that supports the lifestyle you want, for as long as you need.
5. You Want to Access Your Pension Soon
Thinking about taking a lump sum or drawing income from your pension? Before you do, it’s crucial to understand your options and the tax implications.
A review will explore:
- Tax-free lump sum allowances
- Drawdown vs. annuity choices
- How to structure withdrawals efficiently
Our team can guide you through this complex process and help you make decisions that minimise tax and maximise flexibility.
6. You’ve Had a Change in Circumstances
Any significant shift in your personal or financial life can (and should) prompt a review of your pension and retirement plans.
We take a holistic approach, ensuring your pension aligns with your current goals, responsibilities, and family situation.
7. You Don’t Have a Retirement Plan
If you’re simply saving into your pension without a clear retirement strategy, it’s time to evaluate. Many people don’t know:
- When they can afford to retire
- How much they’ll need each year
- What lifestyle their pension will support
A pension review can turn vague goals into a clear roadmap. We help you set achievable targets, track progress, and feel confident about your future.
If any of these signs sound familiar, it’s time to take action. We offer free, no-obligation pension reviews designed to give you clarity, peace of mind, and a practical plan for your future.
