As we embark on another new year, it’s the perfect time to take control of your pension and set yourself up for the future. Here’s a few tips on how to start: 

1. See how your pension is doing

• Use our Lifestyle Calculator to make a list of the things you want in retirement and work out what they will cost
• Check your latest pension estimate from the Scheme to see if you’re on track to meet these costs when you retire

2. Consider paying more

• Check how much you pay into your pension every month
• Work out your monthly outgoings to see if you could afford to pay in more
• Consider making, or increasing, Additional Voluntary Contributions (AVCs)
  

3. Think about your loved ones

• Decide who you would like to receive any death benefits from your pension
• Make sure your wishes are recorded with us by making your nominations as detailed here 
  

4. Review how your money is invested

• If you have Additional Voluntary Contributions, check whether the funds you’ve chosen to invest in are on track to provide you with the level of income you’ll need in retirement (see point 1 to understand what you’ll need)
• You can change your fund choices if you wish
  

5. Check your details

• Think about whether you’ve changed your address, telephone number or bank account
• If you have then please let us know as soon as possible
  

6. Seek advice

• If you’re thinking about making any changes to your pension, speak to an Independent Financial Adviser (IFA) with experience in pensions. You can find IFAs in your area by visiting www.unbiased.co.uk