13:38 26 January 2013
It is thought that several Britons who are saving for their retirement do not usually check their pension on a regular basis. Although this isn’t exactly what we call a disaster, this could be bad for you.
Pension providers could be more than happy to charge you with fees for years while you’re blissfully unaware. Without checking, these fees can easily go up and can take enormous money out of your pot. You wouldn't want that to happen.
Some people on the other hand, check their pension on a day-to-day basis.
According to some people, this too isn’t the best idea either. Remember, if you’re into long-term investing, checking out your pension too often can do you more harm than good. You don’t want to be stressed out everyday when the market suddenly falls.
So, how often should you check your pension? Some experts agree that checking it once a year is ideal. By doing so, you’ll know how much you’re charged and how much you can expect when you hit your golden years.
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