People’s Pension Review

The People’s Pension is a popular workplace pension scheme, but now you’ve moved jobs, is it right for you? Our specialist pension advisers can carry out a free, no-obligation People’s Pension review, to ensure your getting the most from your pension savings. Speak with our team today, for an informal chat about your pension needs.

Important information: Our website offers information about investing and saving, but not personal advice. If you’re not sure which services are right for you, please request advice from Hilltop’s independent financial advisers. Remember that investments can go up and down in value, so you could get back less than you put in.

People's Pension Review Service

What Does Our People's Pension Review Service Cover?

Check The Fees You're Paying

All pension providers charge a fee for managing your funds. Our advisers will check that your People’s Pension or any other personal pensions you may have are not charging you excessive fees. Excessive fees could be affecting your pension’s growth.

Risk Check Your Funds

All pension funds are subject to an element of risk. As part of our review service, we will carry out a full financial risk assessment to ensure your People’s Pension is aligned to your attitude to financial risk.

Your Pension's Performance

Our advisers will check the performance of your People’s Pension against its benchmark and across the market. This ensures you’re getting the right pension for you, that will potentially deliver for your retirement.

Pension Accessibility

Does your People’spension offer online access? Can you get up-to-date valuations instantly? During your People’s pension review, we will find out what’s important to you and ensure the personal pension you invest in can give you the functions you require.

What is The People’s Pension?

The People’s Pension is backed by B & CE who have been running workplace pensions schemes for over 30 years. People’s Pension is one of the largest auto-enrolment pension schemes in the UK with over 4.9 million* individual investors

The People’s Pension schemes offer flexible drawdown plus it’s possible to take a tax-free lump sum from their pensions when you reach 55 years old. But, as with all pensions, it’s essential to review them regularly, especially if this is your old workplace pension.

*The People’s Pension, 27.07.20

Why should you review your People’s Pension scheme regularly?

Conducting a regular review on your People’s Pension could help you reach your retirement goals, plus will ensure that you don’t lose track of that pension pot. It’s common for people with small pension pots like an old workplace scheme to lose track or forget about this fund. If you have stopped contributing to your People’s Pension, it could make sense to look at Pension Consolidation. Consolidating your funds into one, performing Pension could reduce the chances of you losing track on your funds and potentially enjoy better growth for your money.

If you would like to learn more about how to combine your pensions, click here.

The People’s Pensions, as with any investment or private pension, require regular checks and reviews to make sure you have the right Pension for your circumstances. A review could show you pensions that could have lower fees, better growth potential and more flexible access. Regular checks and reviews of your People’s Pension should alleviate any nasty surprises you find when retirement day finally arrives.

The earlier you get your People’s Pension reviewed, the better chance you have of making changes that are needed to hit your retirement goals.

Checking your risk profile

People’s Pension is one of the most popular workplace pension schemes. Therefore, a pension policy with People’s Pension is set-up to benefit the whole workforce but might not be aligned with your attitude to financial risk. The risk profile of a pension can have a profound effect on the performance of the fund. While a conservative fund will be less risk-averse, it could restrict the growth potential of the fund and hence, not grow as much as you would like.

Over your working career, your attitude to financial risk usually changes, the younger you are, the more likely it is that you could take more financial risks to benefit from higher growth. This is because you have more potential to recoup any short-term dips over a more extended period than you do if you’re getting close to retirement.

A regular review with our pension advisers will help to find the perfect Pension for you.

How regularly should I get my People’s Pension reviewed by an adviser?

There is no specific guidance on how often you should get your pensions reviewed. Our on-going service will continually monitor your pension to ensure it’s still right for you. You will receive an annual performance report that will quickly show how your pensions are looking and to discuss if any of your objectives have changed over the year.

What to expect

Expert advice in three simple steps

We’re committed to going the extra mile, holding your needs and requirements at the centre of our trusted advice. Everybody is different, and the financial advice we deliver reflects that. Our professional advice is always relevant, personalised and tailored to you.

Get in touch

Give us a call on 0161 413 7051 or let us know when you’d like us to call back. A friendly pension professional will discuss your enquiry to get a better understanding of your situation.

Analyse and report

As soon as you give us authority to work on your behalf, our team will get started analysing your pensions to produce an in-depth report and assess against the market.

The choice is yours

Your expert pension adviser will deliver their assessment and ensure you fully understand the advice given. Now you will be able to make informed decisions.

Arrange a callback

or call us now on 0161 413 7051

Frequently asked questions

Should you have any queries about our services, or if you can’t find what you’re looking for simply get in touch with our friendly team who are here to answer any questions you might have.

Consolidating your pensions from different employers is run in the same format as a regular pension consolidation service. It’s generally not recommended to combine out of your current workplace pension, but in some cases, you can combine and transfer your other funds into your current workplace pension. Please speak with our team to find out all of your options.

Retirement Income Planning is the process of assessing how much income you will need in retirement and then making decisions and actions on how to achieve the targeted income. Your financial advisor will work with you to make a detailed retirement plan to help achieve your goals.

To combine your pensions, a financial advisor will need your authority to speak with your pension providers and then your authority to act on your behalf to transfer your pensions into the recommended product.

By initially giving the financial advisor the power to speak with your providers (Letter of Authority) the financial advisor will request the relevant information they need to make any recommendations on if consolidation is right for you, where to combine and potentially transfer your pensions.

For the full process of combining your pensions, please speak with our team.

A 25% Tax-free lump sum is calculated on the total value of your defined contribution pensions, rather than specific to each policy. The advisers at Hilltop will be able to give you guidance on your options.

Tax treatment depends on the individual circumstances of each client and may be subject to change in future.

Capital at Risk.

Depending on your current pensions, you could lose money when combining your pensions, if they have exit fees included or any guaranteed rates included. By speaking with our advisers, they can check to see if any of your current pensions have any clauses attached and help you to make the right choices about pension consolidation. If we don’t think that pension consolidation is in your best financial interests, we will tell you that too.

Capital at Risk.

There are several ways of consolidating your pensions. But, we believe the best way to consolidate them and to ensure you’re getting the best pension policy for your circumstances is to speak to our team.

We will quickly assess your current pensions and offer advice and recommendations on where to consolidate your funds. The advice we give is always in your best financial interests, and by speaking with us, we can take some of the decision processes from you and guide you to a more suitable pension, rather than a fit for all pension you may see online.

Capital at Risk.

Combining your pensions could have many benefits. Putting your pensions into one policy can help you to keep track on the value of your funds, quickly see the performance of your fund and also you could benefit from lower management charges than having multiple pensions.

With all your funds in one place, you could furthermore reduce the chance of losing track or forgetting about that smaller pension pot that you accrued with an old employer. Pension consolidation isn’t for everyone, though, so please speak with one of our advisers before moving your pensions.

Capital at Risk

You could drawdown from a personal pension from your 55th birthday. In some circumstances i.e. ill health, your pension provider may allow you to take money from your pension, but this is at their discretion.

Capital at Risk

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We just need to take a few more details to understand what we can help you with and when is convenient for us to call you back. Gives you a chance to pop the kettle on ☕

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