In the Uk the government has made so many changes to pensions and retirement age that many people are unsure what to expect in regards to the retirement money they will receive.
For many getting the most from their pension and savings in retirement is a priority so here are some things you should check before you reach retirement.
The age you will retire at for many has changed to 67 and not 65 as previously set out by the government so we have to work longer than ever before.
When you retire you will receive a state pension but the amount you will receive will vary depending on how many years you have worked and if you have contributed National Insurance during this period.
Currently on average you can expect to receive between £110 and £150 per week, not a lot is it that’s why your savings and pensions are so important to you.
Your private pension or works pension is probably going to be the biggest income next to your state pension in retirement so it is very important to get these checked before you draw them down either as a pension or as a lump sum as we will all be able to do in 2015.
Before you draw them down it is also important to check them especially if you have ever transferred your pensions in the past as the transfer may not have been in your best interests and you could possibly be in line for compensation which would increase the retirement money you have.
Mis sold pensions are not uncommon and for some the amount of compensation they receive is life changing so don’t just accept that any pension transfer was acceptable and correct in the past. Mis sold final salary pensions that have been transferred in the past see people get large amounts of compensation and nearly every person that has been advised to do this can guarantee they will receive some form of compensation.
You want to enjoy your retirement the best you possibly can and you do not want your standard of living to drop that much this is why it is important to get everything checked to ensure the retirement money you have is maximised.
If you thought or had the opportunity of increasing your retirement money by £100,000 would you do it? The answer would be yes. Well if you were advised to transfer your final salary pension after building up many years in it then this could be the potential compensation you are missing out on if you do not get it checked.
We all work all of our lives and want to enjoy our retirement as much as we possibly can but this is not possible without our health, happiness and of course money so do not let this opportunity slip away.
You can claim by yourself but for most in retirement they do not want the hassle and that’s where the services of a company like money and me claims comes in as they will do all the work for you and are experts when it comes to mis selling of pensions.
For further information and to see what others have been compensated in the past visit https://mis-soldpension.com