Review pension investments, experts advise

Pension savers should be using the turn of the financial year to review their current investments, a new study suggests.

Fairinvestment.co.uk, a financial website, said that many consumers stood to benefit from taking more direct control of their portfolios.

Figures from the firm showed that 61 per cent are currently saving into some form of pension pot.

However, Fairinvestment.co.uk added that many of this group either have no control or no interest in how this money is being invested - despite the financial crisis hitting the value of most portfolios.

Sharon Bratley, chartered financial planner, commented: ’It is important that people keep on top of what they’ve got so that they aren’t greeted with any nasty surprises and should any adjustment need to be made to investments, they can be made in good time.’

She added: ’Reviewing your investments over the past couple of years could have meant reducing exposure to commercial property and banking shares and potentially taking advantage of some good fixed rate deals on deposits, both of which could have helped reduce potential losses.’

Research from financial firm The Hartford revealed last month that two thirds of British workers aged over 45 years old had not reviewed their pension strategy recently, despite the financial crisis.ADNFCR-2318-ID-19111758-ADNFCR