OverviewThe Mid-Career Check-up
Comedian Mark Watson looks at ways you can make sure your retirement plan is still working the way you want it to.
About your BNP Paribas pension
Moving a pension What happens if you leave BNP Paribas? What happens to my pension when I die?
About your pension
Managing your pension
Managing your pension
Moving a pension What happens if you leave BNP Paribas? What happens to my pension when I die?
Who manages your pension?
Saving in your 40s & 50s
You may have been saving towards your long-term goals for some time. Now might be a good time to make the most of the opportunities open to you, as there’s still plenty of time to make a big difference to your pension.
If you are already paying into a workplace pension, you are making progress towards reaching your long-term savings goals. Now may be a good time to take a closer look at your goals, understand what you've saved so far and check that you are on track. If you feel that you are behind your targets, we’ve got some small steps you can take now that can make a big difference over the long term.
Know your goals
When you are thinking about saving and investing, it’s important to keep your goals in mind. Use our retirement calculator to find out if you are on track to meet your retirement goals.
The figures quoted are designed to help you understand some simple rules of thumb about saving for retirement. They are based on average household incomes and do not take into account your personal circumstances. They may not be appropriate to you, in particular, the closer you are to retirement, the less applicable they are to you, and you should consider seeking personalised advice. The figures are based on a number of assumptions which can be seen in more detail on our wesite.
Four small steps you can take now
1. Regularly review your contributions
It’s a good idea to regularly review how much you are saving. As your circumstances change, you can easily amend your contributions as it suits you through your employer. You can boost your savings by making additional contributions on a regular basis, as well as one-off contributions. Learn more about contributions.
2. Understand your investments
You’re likely to be in retirement for 20 years or more, so it’s important to invest your pension in a way that will help you achieve your retirement goals. You may be invested in the default strategy of your pension plan, or you may have decided to self-select your own investments. Either way, it’s important to review your pension investments on a regular basis. To find out more about the investment options available through your pension plan log in to PlanViewer.
If you are unsure about whether your investments are suitable for your circumstances, or you need advice on any of the options available to you, we recommend that you speak to an authorised financial adviser.
3. Make the most of your pension allowances
Understanding what pension tax allowances and limits might apply to you can help you to maximise your pension savings. Find out how to make the most of the tax-efficient pension allowances available to you and remember that tax treatment depends on individual circumstances and tax rules may change in the future.
4. Bring your pensions together
Depending on the types of your other plans, you may be able to transfer these into your Fidelity Workplace Pension Plan. This could mean less paperwork and, with your pension pots in one place, possibly a wider choice of investments. Learn more about transferring in.
Should you pay more into your pension?
Use our calculator to see how a small change today can make a big difference to your pension pot tomorrow.