How do I compare personal pension plans?

I want to make sure that I get the most out of my pension, how can I compare different plans to help me do this and ensure my pension is most appropriate given my circumstances?
Question asked by Glen Donaldson
Are You Pension Happy?
Call us on 02084327334
I know how much my pension is worth
I know how much my pension costs
I have clear financial goals for my retirement

Answered by Neil Adams

Have you got a Company Pension Scheme?

If your employer offers you a pension scheme through work, then you probably won’t need to compare this to other pension plans. That’s because your employer will normally contribute to your work pension on your behalf, making it by far the best option.

If, however, you don’t have access to a company pension scheme, maybe because you’re self-employed or a contractor, you can arrange your own private pension with an insurance company or seek pension advice from a financial adviser, who can talk you through all your options and set-up the most appropriate arrangement for you.

Make sure you check the financial advice charges

Make a note of the charges they impose, as these can eat into investment returns, and which funds you can invest in. Self-invested personal pensions (SIPPs) tend to be more expensive because they offer access to the widest choice of investments, but these are only really suitable if you’re keen to be very hands on about managing your pension savings.

You can also use the Money Advice Service to find providers and compare pension products. Go to www.moneyadviceservice.org.uk for more information.

compare pension plans
 
pension performance
 
retirement planning
 
This information does not constitute financial or other professional advice. You should consult your professional adviser or contact us directly on 02084327333 should you require financial advice. It is important to ensure any insurance policy you take out is suitable for your needs.
Start your journey today...
  Find out how a Drewberry financial adviser can help you reach your destination by making the most of your finances.
Call us on 

Frequently Asked Pensions Advice Questions

 
My boss has told me that we are going to be automatically enrolled in a pension scheme through work,...
 
I’m self-employed, so I don’t have an employer to arrange my pension for me. Obviously I...
 
I’m a bit worried my private pension fund won’t last long enough, how do I prevent it...
 
I’m almost 55 and have a final salary pension. I’ve read the articles about the new pension...
Need Help? Live chat now and get an instant answer from our Experts...

Neil
Pensions

Victoria
Insurance
Our Latest Reviews
Martin Johnson
24/04/2019

A simple policy well explained good impartial advice and knowledge done with a smile! Many thanks.

Julia Bickley
19/04/2019

I found the service very friendly, professional and those I spoke to were clearly knowledgeable and explained things in an appropriate way. Great communication, and very personable staff. I would use again without a doubt.

Valerie Graham
17/04/2019

Excellent – very helpful and knowledgable. No sell, just education and assistance. Would highly recommend!

We are rated 4.9/5 based on 2159 independent client reviews.
To read more of our independent client reviews click here →
REVIEWS
EXCELLENT
4.92 / 5 Average
2159 Reviews
W Liu
Overall Rating
I am a customer from US. We just set up UK subsidiary. We need some help with insurance plans there. Drewberry is very helpful, especially Nadeem. He is great
V Mashru
Overall Rating
Have dealt with Robert Harvey for many years now for my insurance needs. Always incredibly helpful and finds the right cover that’s appropriate for me. Nothing is ever too much. I appreciate it he help and advice.
J Norbury
Overall Rating
Jake Beale was really professional, helpful and informative.
I Capital Ltd
Overall Rating
Nadeem Farid was very helpful and consistent in setting up our company group insurance. service was efficient at all times. thank you
R Elliott
Overall Rating
Excellent knowledge and support. Also always available which was refreshing