From a commercial stand point companies simply do not have the time or resources to tailor the occupational pension to each individual member of staff, this means that it’s likely the investments within the pension remain the same throughout, this also corresponds with an old private pension, most individuals simply forget to monitor just don’t have the time to assess their investments in the pension. The global investment market and economic background is unlikely to remain in the same state throughout one’s life, this means that one investment will not be appropriate or effective throughout this period of time and is likely to require altering in order to try and consistently enhance performance.
An individual should take less investment risk the closer they get to retirement in order to protect their level of wealth for retirement and inheritance purposes, this is known as ‘Lifestyling’, there is less chance of this being achieved if old pensions are not being monitored or analysed on a regular basis.
At HPAM we provide regular statements for all of our investment wrappers, a semi-annual Investment Review and an Annual Review to ensure you stay on track with the financial strategy we have tailored to you. You can also log-in to your HPAM online platform to check on the investments yourself at any-time.