Which investment option is right for you depends on a number of things, including:
- when you want to retire
- how much investment risk you’re willing to take
- your personal beliefs
- the amount of savings you have built up
- how you plan to take your pension savings
- what other savings, investments and income you have, and how your pension savings fit in with these.
now:pensions can’t decide for you or give you investment advice.
If you don’t want to choose another option, you’ll stay in the lump sum plan.
The Pension Wise service is there to help you with pension planning. You can chat to a Pension Wise specialist by calling 0800 011 3797 or using the webchat.
Pension Wise will give you guidance, but can’t give advice that’s tailored to you or tell you what you should choose. To get personalised advice you need to talk to a financial adviser who’s regulated by the Financial Conduct Authority (FCA).
The government-backed MoneyHelper service has a guide to finding a regulated financial adviser and a directory of FCA-regulated financial advisers who can give advice on pensions.
Remember, the value of your investments can go down as well as up. Past performance doesn’t mean future performance will be the same.