Investment
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The contributions paid into your pension fund must be invested in
some way prior to retirement otherwise inflation would reduce their
real value. Therefore the funds are invested with a view to at least
maintaining their real value and possibly more.
The investment of your pension fund is a very important
consideration. It is therefore important that you give some
consideration to how your fund is invested. It may be the case that
you have no say in how the fund is invested (see below). However if
you do then it is important you understand the choices available and
their different levels of risk. The importance of making an informed
choice on the investment of your pension fund is not something we
can stress enough!
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Investment options
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You may not be given a choice of how your pension fund is
invested. In some arrangements the Trustees give the investment
choice to the individual members and they can select whichever they
would like (normally from a pre-determined short list of
possibilities). In other schemes however the investment is
controlled entirely by the Trustees without reference to the wishes
of the individual members. Whether this is a good or bad thing
depends upon whether you really want to make all the decisions or
would rather have this handled by the Trustees on your behalf. In
some schemes it would simply be impractical for the members to have
an investment choice.
If you do have a choice of investment funds then read the
individual pension investment guide to
better understand your choices and the whole business of investing
your pension fund for retirement. Spend some time understanding the
different types of investment, the different risks each represents
and which is right for you and your money.
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Use our online calculator
to get an estimate of your basic state pension.
Its free and
simple to use you can even include it on your own website!
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If you have a pensions
related question then please let us
know.
If it's something other people
would find useful then we will post an answer in our Frequently Asked Question
(FAQ) area.
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