review your pension

Review your Pension before it’s too late because it is better to be looking at it than for it

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3 Reasons To Review Your Pension?

Are you getting ongoing advice?

Sadly only a small number of individuals who have pension benefits have reviewed their pension plans on a regular basis. Many people hold a number of different pension plans and have no understanding of how their pension plan works, the charges, the risks, or benefits the could expect to receive.

Can you reduce charges?

Over the last 20 years, pension products have developed greatly and one of the main changes is that much lower charges exist with modern pensions. Charges have a direct impact on the returns and final benefits you will receive from your pension fund.

Has your attitude to risk changed?

The amount of risk we are willing to take varies at different stages of our lives, depending on how low it is until we retire, how financially secure we are, or how much growth may still be required to achieve our objectives.

pension review

Review Your Pension Before It’s Too Late

A pension review is a process whereby you work with a qualified pension advisor to examine your current pension plan and set out to fully understand its parameters.

Simply put it’s finding out if the pension fund you’re building will be large enough to sustain you in retirement.

Review Your Pension FAQs

Frequently Asked Questions?

Is it time you reviewed your pension?

2023 pensions research, highlighted some concerning gaps in pension planning. 57% of those surveyed are planning to use cash savings to support their retirement and there is a real risk that people’s pensions will not be enough. The cost of living crisis and a reduction in homeownership are also impacting this.

Why save into a pension?

Saving for retirement matters. A pension is a long-term savings plan to provide a fund for your retirement. People live longer now than ever before and lead active lives well into their golden years. It’s essential you plan financially for this later stage of life. The good news is it’s never too late to start.

Learn more about starting your pension.

How much should you invest?

Consider the amount of income you’ll need in retirement and where it will come from. Use the Pensions Authority calculator to work out your needs.

This online tool estimates the amount you’ll need to have a sufficient pension pot.

The calculator also shows you how much you need to put in if you are getting closer to retirement. You’ll need to invest more of your salary in this case.

It’s important to know that the money you’re putting into your pension stretches further than in normal savings. This is because the pension payments you make are long-term and benefit from tax relief.

Review your pension

It’s important to check your pension regularly, at least annually. You may have been paying the same amount into a pension scheme for years. If it’s an older pension, you may be paying higher fees than necessary.

Circumstances are bound to change as you move through life’s different stages. You may have a family, take out a mortgage, change jobs, or move up the career ladder. These factors all affect the amount you can afford to pay. Your expected financial needs in retirement will also change over time.

Your pension plan may therefore be well overdue an overhaul. Here are our top tips:

  •  assess your life situation and what your current needs look like after you retire
  •  talk to a financial adviser – you might have scope to pay more
  • maximise your contributions to avail of the highest tax relief available
  • look into making additional voluntary contributions (AVCs)
  • consider moving your pension to a different fund

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Review Your Pension


Schedule a callback to discuss your pension review

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Work with a Qualified Financial Advisor to secure your financial future


We have been providing financial advice since 1991.


Forsythe Financial Planning is regulated by the Central Bank of Ireland. We are also members of Brokers Ireland and the Financial Broker network

087 250 6365

  1. Central Bank of Ireland
  2. Consumer Rights
  3. Citizens Information
  4. The Pensions Authority