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High time: Fees, funds and how a little time looking at your pension costs could save you thousands

From energy tariffs to mortgages, people who stick with the same pension provider year-in, year-out are at the greatest risk of losing out. The leading rates or most competitive prices are often reserved for those who compare the market, so the only way to cut your bills—or increase returns—is to look for a better deal. The same principle applies to saving for retirement: too many people have old or forgotten pensions that impose excessive charges or are made up of underperforming or otherwise unsuitable investments and assets. But there’s more to the pension problem than meets the eye, but carrying out pension checks can help your retirement income.

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How to avoid pension scams

How to avoid pension scams

Before you fall foul of a scam, make sure you educate yourself on how to keep safe.

An increasing number of fraudulent companies and cold callers are targeting savers with pension scams, claiming they can liberate pensions for lucrative investments, only to make off with your hard-earned cash. it’s a problem we hear about often at Pension Works – and once stung, there’s very little recourse.

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Information on Pension Freedoms - Pension Pot Image

Pension freedoms: making saving for retirement more appealing

Politicians, consumer groups and the investment industry, in general, welcomed the pension freedoms introduced by the government in April 2015. The changes gave people more choice and flexibility in how they funded their retirements.

However, the sweeping nature of the reforms has caused one or two problems. Earlier this summer, the Financial Conduct Authority (FCA) published its initial study of the new system, alerting savers to potential risks.

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