Pension Attention: Smashing the UK’s Biggest Pension Myths

It’s that time of the year again…that’s right, Pension Awareness Week is launching on Monday 11th September.

Whilst some might not usually take notice of this week, it is incredibly important. Indeed, it highlights the importance of strong pension engagement, the different routes you can take to achieving your dream retirement, and the tools available to support you throughout your retirement journey.

Better yet, Pension Awareness Week provides an excellent opportunity to halt any spreading of pension-related myths, which might prevent people from actively engaging with their pension.

And at My Pension Expert, we’re keen to do our part – So we’re breaking down some of the biggest pension myths!

Pensions Are Far Too Confusing

It’s a long-standing assumption that pensions are too confusing and too scary for most people to understand, let alone manage. Baffling financial jargon and confusion around investment terminology can make it hard to know where to begin or why to even bother.

But this doesn’t have to be true. Pensions are all about saving for your future. We believe planning for retirement should be an exciting and enjoyable experience. After all, you’re planning for a period of your life that is solely dedicated to your passions and interests. There’s nothing scary about that!

What’s more, there are useful resources to help you plan for the retirement you want. Not that we’re biased, but we at My Pension Expert make it our goal to help people understand their own financial situation and choose the best option to suit their needs, explained in a clear, jargon-free manner. We even do as much administrative legwork as possible, so that you can focus on the enjoyable part: planning how you want to spend your retirement.

It’s Too Late to Boost Your Pension Savings

Like most things, the sooner you start saving into your pension, the better. However, it’s never too late to boost your savings.

There’s an array of options that you can look into, to grow your pension to make sure you’re setting yourself up for a great retirement. From simply increasing monthly contribution amounts to considering alternative investment options, there’s something to suit your needs – although of course, it must be noted that capital will be at risk when it comes to investments.

If you’re curious about finding out a bit more, you can visit one of our previous blogs, which explores this very topic, which you can read here.

Retirement is Boring

Retirement certainly doesn’t mean that you have to sit quietly at home, sipping tea (unless that’s what you want to do!).

Retirement is your chance to break free from the 9-5 grind and spend time doing the things that you really want to do. From going on a dream holiday with all of your family, splashing out on a brand-new kitchen, or finally having the time to take that painting course you’ve always fancied, everyone will have their own retirement goal.

The best way to enjoy your retirement is by planning for it in advance and whatever your dream retirement looks like, we at My Pension Expert are here to help you achieve just that.

Advice Doesn’t Offer Any Value

Independent financial advice offers a tremendous amount of value. Similar to retirements themselves, advice is completely bespoke to an individual and their circumstances. After all, advisers take into account your personal circumstances and your future goals and help you to develop a personalised plan which meets your exact needs.

Financial advisers can also help over the long term, keeping you on track to meet your most important goals, freeing up your time, and giving you peace of mind, knowing that you’re doing it right.

We’re Here For You

Pensions aren’t big and scary assets; they’re tools that can help you achieve the retirement you want.

My Pension Experts team of friendly, helpful advisers are here to help you, from the initial consultation all the way to the retirement of your dreams becoming a reality.