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Reviewing your pension arrangements on a regular basis
can help ensure that you're saving enough to achieve your retirement goals.
By taking into account the current size of your pension pot,
the level and frequency of contributions, and the length of time until your desired retirement age,
it is possible to gain some idea of the of the pension pot you can expect on retirement.
Knowing roughly what you can expect from your current pension arrangements
can allow you the opportunity to make adjustments while there is still time.
A regular pension review can also help you assess whether the underlying investments
of your pension fund are performing up to scratch
and ensure that those investments are well matched to your attitude to risk.
Over time your attitude to risk will change, for example,
when you’re approaching retirement you may want to lower the level of risk involved
in underlying pension investments to help you plan ahead more accurately.
A financial advisor can help you review your current pension arrangements,
and offer advice on adjustments that may be necessary
to achieve the pension income that you desire in retirement.