Managing your pension pot

Managing your pension pot might not be something you need to do every day, but you should try and review whether your savings are invested in the right place on a regular basis.

The goal of having a pension is being able to fund the lifestyle you want when you come to take your money. It’s all about whether you’re invested in a way that reflects your current plans.

By keeping on top of things now, you can make sure you’re doing everything you can to stay on track. You can check how your pension savings are doing using our online service, Manage Your Account.

Life’s changes may mean that over time, your retirement goals or circumstances could change too. As life moves on, it’s important that you review the choices you've made about your pension pot as well. If you are uncertain about what to do, we recommend you speak to a financial adviser. To find an adviser in your local area, visit unbiased.co.ukOpens in new tab. Advisers usually charge for their services.

Are your savings invested in the right place?

How your pension is invested can make a big difference. So, it’s important to make sure you’re invested in a way that reflects your circumstances and goals.

You can find out how the money from your pension is invested to make a difference and how we consider environmental, social and governance (ESG) factors in our investment process on our ESG Hub.

When you put money into your pension, we invest it in company shares (among other places) with the aim of helping your savings grow.

There’s a lot to think about when it comes to investing your money into a pension. And it can all seem a bit daunting if you’re new to investing or haven’t had a pension plan before.

What happens to the money I pay in?

Payments are invested in line with the instructions provided by the Trustees or indicated on your AVC application form.

Even if you’ve already started choosing your own investments, it’s worth considering whether your pension savings are invested in a way that is right for you.

There’s a lot to think about when it comes to making your own investment decisions.

Balancing risk and reward

All investment involves a degree of risk. It’s important that you understand, and are comfortable with, the risks you're taking before making any investment choices.

Investments that offer the potential for higher rewards often come with higher risks, which means there’s a greater chance of losing your money.

With lower-risk investments there is less chance of losing your money, but the potential for reward will usually be less.

Understanding how you feel about investment risk

The way you feel about investment risk will depend on your circumstances and, often, your attitude to risk. It’s not unusual for someone’s attitude to risk to change as they get older so it’s important to regularly review how your pension savings are invested.

Understanding how you feel about risk will help you to decide whether you’re comfortable making your own investment choices.

Responsible investing

As well as caring about your financial future we believe that we have a responsibility to consider the impact that the companies that we invest in have on the world around us. The money we manage for you and for millions of other savers means that we can influence some of the world’s largest companies. If a company isn’t changing the way they work, we’ll work with them to help them make change.

You can find out more about how the money from your pension is invested to make a difference on our ESG Hub.

Find out more about investing by using the links below.