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Know your pension banner

Pay your pension some attention

Your pension is there to help you make most of your retirement. The better you know your pension, the more confident you'll be that you are saving enough for your retirement. However, only one in five are confident they’re saving enough for retirement.

Our HL Know Your Pension checklist can help you with ways to be on top of your pension and see how much your pension might be on track to pay. Easy-to-use online tools and calculators can help you plan better for your retirement. For those looking to maximise their pension savings, our pension essentials and FAQs could help you get the information you need.

Important information: This page is to help you know more about your pension and is not personal advice. If you’re not sure what’s best for your situation, you should seek financial advice. Money in a pension is not usually accessible until age 55 (57 from 2028). Investments rise and fall in value, so you could get back less than you invest.

Know Your Pension Checklist

  • Review your investments

    The quarterly investment report we send you will have all the details of where your investments are held and how they are performing.

    Consider how long you have left to invest before making changes to your current investments. Also consider if your personal circumstances have changed and if that could have an impact on your investment objectives.

    If you then wish to make changes to your current investments depending upon your risk appetite, you can log in to your account and make changes in the Account Summary section.

    Remember all investments can go down as well as up in value so you could get back less than you invest. If you’re not sure if an investment is right for you, you should take financial advice.

    Discover our SIPP investment strategies

  • Check your current contributions

    Log in and select your SIPP account. Click the ‘Transaction History’ tab, then ‘View all contributions’. You’ll then be able to select your desired tax year and view the contributions made in that tax year.

    If you are approaching retirement, consider checking in on your State Pension to work out how much income you’re going to need. For a comfortable living standard in retirement, it is important to save into a workplace or private pension alongside anything the state offers.

    Given the current cost of living crisis, paying in more into your pension pot might not seem like a priority. So, use this opportunity to review your current and future financial needs. But consider paying in more if you think you can afford it. Even a little bit extra can add up to a lot over time. Remember, money in a pension can usually only be accessed from age 55 (57 from 2028).

    More on pension contributions

Pension calculator

Find out if you're on track to get the income you want in retirement.

Try the calculator

  • Nominate a beneficiary

    Take control of where your money goes once you die. Log in to your account, under Account settings, go to manage SIPP beneficiaries and add nominees to your account. Or, you can download and complete an 'Expression of Wish form' and send it back to us by post.

    What happens to my SIPP when I die?

  • Combine old pensions

    Getting all your pensions under one roof can be an easy way to manage your pension more effectively, review regularly and stick to your targets.

    If you’re not sure where to find old pensions – you can use the government’s Pension Tracing Service to track them down.

    More on lost pensions and how to find them

Benefits of consolidating pensions in the HL SIPP

Moving old pensions to your HL SIPP can help you to take control of your retirement savings.

  • Potential for greater returns
    Choose from a wide range of investments, which could offer greater potential for your money to grow.
  • Flexibility at retirement
    With the HL SIPP, you're free to choose from all the main retirement options, including taking a flexible income.
  • Save time and money
    One statement, one online account, one platform fee and one company to contact with questions.
  • A clear view
    See your overall pension value in one place, which could help you to make better decisions.

Before transferring make sure you check you won’t lose any valuable benefits or have to pay high exit fees. Pensions are usually transferred as cash so you’ll miss any market rises or falls for a period.

More on transferring a pension

Guidance, help and advice

Guidance from Money Helper

If you want to make your money and pension choices clearer, get government-backed, impartial guidance from Money Helper.

More about Money Helper

Have a question?

Our UK-based helpdesk are here for you six days a week. Our friendly and knowledgeable team are ready to answer your questions no matter how big or small.

Call us on 0117 980 9926.

Opening hours
Monday - Friday: 8am - 5pm
Saturday: 9.30am - 12.30pm

Financial Advice from HL

Our financial advisers can work with you to:

  • Plan your personal budget and retirement income strategy
  • Make sure your investments match your goals
  • Give pension advice, including when and how to take them

Discover financial advice

Financial Advice from HL

Our financial advisers can work with you to:

  • Plan your personal budget and retirement income strategy
  • Make sure your investments match your goals
  • Give pension advice, including when and how to take them

Discover financial advice