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Home > Pension Advice > Pension Review > Prudential Pension Review
If you haven’t had your Prudential pension checked by a professional recently, you could be missing out on valuable pension income and growth. Our experts can quickly check and assess your Prudential pension to ensure it’s working for you.
They are commonly known as ‘The Pru’, Prudential is one of the oldest pension providers in the UK with 170 years’ experience. They currently manage over £131 billion of clients funds*, which is one of the most significant funds in the UK. They offer both personal pension and workplace pension schemes.
If you haven’t had your Prudential pension reviewed within the last three years, it’s probably time a professional checked how your personal pension is doing. Regular reviews of your Prudential pension will help you to check you’re on target for your retirement goals and ensure that you don’t lose track of that pension pot. If your old workplace pension was with Prudential and you’re no longer adding funds to it, this pension could now be classed as a ‘Frozen’ or preserved pension. Your Prudential pension could continue to grow, but it could also be eaten away through high fees and management charges from Prudential to keep your funds invest with them.
Prudential pensions, as with all personal pensions and investments would benefit from continual monitoring. Regular checks and reviews of your pension should alleviate any nasty surprises you could potentially find when retirement day finally arrives.
The earlier you get your Prudential pension reviewed, the better chance you have of making changes that are needed to hit your retirement goals.
If you no longer contribute to your Prudential Pension, then combining your pensions could make it easier to manage your funds. Read more about pension consolidation here.
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.
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.
Tax treatment depends on the individual circumstances of each client and may be subject to change in future.
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.
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.
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