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Could Your Pension Unlock Your Future Growth?

People often think that a pension is one of the safest ways to get a laid-back risk-free future. Unfortunately, this is only partially true. The reality is that a pension is an investment that is no different from stocks and shares or buying into a business. The only difference is the most pensions are considered low-risk products.

Unfortunately, some financial advisors abuse the trust of their clients and push them into high-risk investments such as Self-Invested Personal Pensions. In fact, there’s currently around £300 billion in the SIPP market. While most SIPPs are relatively safe, the fact that you can invest the funds into anything attracts many vultures. These financial advisors thrive off using your money to further their own income. In fact, they’re even considered non-standard investments that aren’t regulated by the Financial Conduct Authority (FCA).

future growth

Despite the concerns, pensions can unlock your future growth

But regardless of the type of pension, they are all considered investments. When you put money towards your pension every month, it’s not going to a savings account that is locked away in a vault. Instead, it’s being put straight into financial markets for banks and other companies to use for investments. After all, pensions are an investment, they’re just considered a lot safer than most forms of investment.

Growing your pension relies on trustworthy and experienced financial advisors that can lead to you making good decisions with your money. Remember that pensions are investments so you need to balance between high and low-risk investments to get the most out of your money. So what options are available? How do you know what your money is going towards and can you align yourself with things that you believe in? For instance, when comparing personal pension savings in Iceland to other countries, it's crucial to evaluate the investment opportunities and risks associated with each region.

So, it’s important to be aware of these factors.

Be careful with the pension products you pick

A great example of being careful is with The Resort Group Cape Verde. Hundreds were persuaded to transfer their pensions to invest in resorts with the Resort Group. Financial advisors pushed their clients to do it while completely disregarding their obligations. This results in a lot of money being lost with millions going to the hands of The Resort Group, a high-risk and non-FCA regulated investment.

Thankfully, there are ways to claim money back from these kinds of investments, especially if your financial advisor wasn’t being clear on what your money would be going towards. If you feel that your financial advisor has done a poor job of helping you unlock your future growth, then you need to stand up against them. You can make a complaint to your advisor or contact claims advice services to help you make a claim for negligent financial advice. There’s a good chance that you can win back your entire retirement fund from these unethical advisors.

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