Think of your pension like a car. You wouldn't drive it for years without getting it serviced, right? Yet most people in Ireland set up a pension, pay into it every month, and then simply hope for the best. The pension gets filed away — mentally and physically — and life moves on.
The truth is, the pension you set up five or ten years ago might not be the right fit for you today. Your income has probably changed. Your plans for retirement might look different. Your attitude to risk may have shifted. But has your pension kept up with any of that? Almost certainly not on its own.
When we carry out a pension review, we look at three things. First, what are you actually paying in charges? Even a seemingly small difference in annual management fees can cost you tens of thousands of euros over the lifetime of your pension. It's one of those things that's easy to overlook but genuinely significant when you run the numbers.
Second, how are your investments performing? Being in the wrong fund is one of the most common problems we see. Someone in their 30s or 40s might be sitting in a very conservative fund that barely keeps pace with inflation, when they could afford to take on more growth-oriented investments and significantly improve their long-term outcome. On the flip side, someone approaching retirement might be over-exposed to risk and not even realise it.
Third, are you on track to retire with the income you actually want? This is the big one. Most people have a vague sense that they're saving, but no real picture of whether what they're saving is enough. A review gives you that picture — clearly and honestly.
The good news is that a review doesn't have to be complicated or time-consuming for you. We handle all the paperwork, contact your provider on your behalf, and give you a plain-English summary of exactly where things stand. If everything looks good, we'll tell you. If there are improvements to be made, we'll show you exactly how to make them. No pressure, no sales pitch — just clear, honest information so you can make the right decisions.
You've worked hard to build up your pension. It's time to make sure it's working just as hard for you.