Call Richard Cook: 07770 575 122

email: richard@theinvestmentandretirementcoach.co.uk

How much money are your old pension plans costing you?

It is some time since I last covered the topic of how useless old pension plans can be. A report earlier this year showed that £33.6 billion of our money was allocated to under-performing plans.


Not only that but charges were much higher ten years ago and the investment choices and flexibility were very restricted, both severely impacting the chances of a good outcome.


Here are the three reasons that crop up time and time again:

  • We are all natural born procrastinators. Getting “sort out those old pension plans” to the top of the to-do list is almost impossible. When someone finally gets around to taking action the words I hear time and time again are “this is something I’ve been meaning to get around to for about 3 years”…Get it off your to-do list! Take action now – THIS IS COSTING YOU MONEY EVERY DAY
  • Having to tell an existing adviser you are going to be moving on seems to cause major problems for many people. It really isn’t that big an issue. Most advisers are busy enough and who knows, they may have moved on and no longer consider you to be a 5 star client.
  • You just do not understand how much money is involved…
    • Let’s look at 50 year old William as an example. William plans to retire at 65 and has various existing plans totaling £100,000. By improving the performance of his funds by just 2% per annum (through reducing fees and choosing better investments) the value of William’s fund will increase by nearly £60,000 – to £239,655 (by age 65). Without the 2% increase his fund would be around £180,000.
    • If the improved 2% performance continues through retirement* William will have DOUBLED the amount he can withdraw from his pension for the rest of his life!


I will guide you through the whole process from understanding what you have now and being sure that you will not lose valuable guarantees, to setting up the the “no transfer fee” online plan and putting in place a well thought out ongoing investment strategy. All this for a fixed fee of £250 for the first plan, and £100 for additional plans.

Alternatively, if you prefer to use a regulated financial adviser who will provide personal advice rather than guidance, I will source an experienced and well-qualified adviser for you. Be prepared to pay a fee of up to 3% of any transfer value.


 Just text me, Richard on 07770 575122 and let’s set up a no fee preliminary discussion. Alternatively message me here.

*if you would like to see the actual calculations please let me know – happy to share.


This document and our on going services are not personal advice. We'll give you all the help and guidance you need to make your investment and retirement decisions, but we can't advise you. If you're not sure whether you need regulated financial advice we can put you in touch with a suitably qualified and experienced regulated adviser. Because we are not regulated by the Financial Conduct Authority you will not have access to the Financial Ombudsman Service in respect of any complaints. If you use one of the "no advice" on line services to handle investment transactions they will be Regulated and you will have access to the Ombudsman and The Financial Compensation Scheme in respect of their services. The value of investments/pension plans can fall or rise depending on market performance. The Retirement Team and The Investment and Retirement Coach are trading names of Capture Success Ltd Reg No 01825075 Tel 07770575122

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