Saturday 22 June 2019 ● Promotional content
Family finance & family legal The Modern Family 43
Combine pensions and manage them online A
In 2019 there’s no such thing as a job for life — it’s likely you’ll have several employers during your career, which means several workplace pensions
s you move from job to job it’s easy to lose track of a pension,
and the government estimates that there could be as many as 50 million dormant pensions by 2050. If you’ve had your head in the sand
when it comes to your pension, now is the time to sort it out. The longer you put it off, the more you’ll have to save in later life and the harder it could be to find an old pension. Combining your old pensions into
one new plan makes it easier for you to manage your savings. It’ll give you a good overview of how your funds are performing and also what fees you’re paying. Whatever your age, it’s never too late to get your pension back on track, and PensionBee can help.
When you’re in your 30s The more you save in your 30s, the better off you’ll be in later life. Compound interest accumulates over time and can turn a relatively small savings pot into a significant amount when it’s left untouched until your retirement. Plus, the sooner you start saving
into your pension, the less you’ll have to save each month. To retire with a comfortable pension of £26k, a couple needs to save just £198 a month from age 30*.
Here’s how we helped 37-year- old Lucy:
When you’re in your late 40s If you’re in your late 40s there’s still time to boost your pension fund. A pension calculator can help you determine how much you’ll need to save between now and retirement, and putting a good savings plan in place will help you get there. To draw an annual pension of £26k, a couple needs to save £338 from age 40 (and £633 from age 50)*.
Here’s how we helped 48-year-old Juan:
Fix your pension
mess: PensionBee can help you take control of
your savings by transferring all of your old pensions into a new online plan. You’ll be
able to view your live pension balance, see your projected retirement income, and set up contributions in just a few clicks.
Before I signed up to PensionBee I had a couple of different pensions, and they were dotted around all over the place. I didn’t know what they were worth, I didn’t know where they were and I didn’t know who to call to find that information out. PensionBee helped me fix things by bringing them all into one place. My pension’s accessible online through the PensionBee dashboard and I feel great peace of mind that the money’s safe and secure ready for my retirement.
Before joining PensionBee I had a couple of old pensions from jobs I had years ago and I hadn’t done anything with them for years. PensionBee sorted out the historical mess I had very quickly and easily. I didn’t think I had the time to fix things, but PensionBee offered the perfect solution. It was easy to sign up online and a couple of phone calls and emails later, everything was done!
LUCY
Find out more or sign up to PensionBee today. T: 020 3457 8444
pensionbee.com
JUAN *Source:
Which.co.uk
PENSIONBEE IS AUTHORISED AND REGULATED BY THE FINANCIAL CONDUCT AUTHORITY (744931). WITH PENSIONS, YOUR CAPITAL IS AT RISK. THE VALUE OF YOUR PENSION WITH PENSIONBEE CAN GO DOWN AS WELL AS UP AND YOU MAY GET BACK LESS THAN YOU STARTED WITH.
Images for illustrative purposes only
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