How to Sort Out Your Pensions TODAY and Retire Early

Don’t assume your pensions are being managed correctly. The earlier you sort this out the earlier you can retire.

👉🏻 *Looking for help with Financial Planning?*

Related Videos & Links:

Risk Warnings & Disclaimers

Capital at risk. Past performance is used as a guide only. It is no guarantee of future returns. Any examples used in the video are for illustrative purposes only and you may get less back than the figures shown. Different funds and asset classes carry varying levels of risk depending on the geographical region and industry sector. You should make yourself aware of these specific risks prior to investing. This video does not constitute personal advice. Prevailing tax rates and reliefs are dependent on your individual circumstances and are subject to change. We do not provide tax advice. We do not take any responsibility for third party websites and content we may link to from this video. Issued on behalf of Nova. Nova is a trading name of Nova Wealth Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN: 778951) and is a limited company registered in England & Wales (10739796).

James Shack™ property of James Shackell
Copyright © James Shackell 2021. All rights reserved.
The author asserts their moral right under the Copyright, Designs and Patents Act 1988 to be identified as the author of this channel and any video published on it.

0:00 Intro
2:20 What & Why
3:24 How much should you pay in
4:59 Contribution Tips
06:01 How to find them
06:47 Problems with default funds
08:07 Stick, twist or shuffle
08:39 Walkthrough
12:53 Transfer considerations
14:18 Choose your beneficiaries

[JamesShack]

Please ask me any questions you have about pensions, I’ll answers them below and hopefully this will become an even better resource for the people that watch it after you!

[MarkWarrington-zs]

I started pensions for my children. I figured one day they will thank me, even if I won't be around to hear it. 50+ years of growth should give them a kick start!

[Hawks]

Reassuring video. I’m 42 and I have a Standard Life pension with approx £116000 in it. I’m invested in 2 funds at almost 100% Equity…a global fund (75%) and one that tracks the S&P 500 (25%). In happy to take a lot more risk (both funds are risk level 6) as I am still 20 - 25 years from retirement, and the most important thing for me is maximising the returns, even if the volatility can be high at times

[jacquisnow]

Hi James, love the work you do! For the chart, it might be worth adding a stacked chart that splits the pension, ISA, State pension, etc, on top of eachother with different colours to help see trends. For example, when the workplace pension runs out and state pension kicks in. I'd be happy to send an example if needed. :)

[flippeddisc]

Great video as always James….
I recently thought I had tracked all my pensions…. In the 80’s I opted out of SERPs and assumed my deferred payments were placed in my occupational pension by my employer….
I was wrong, a little detective work was an afternoon well spent. A few phone calls later I had tracked down a scheme containing £50k…time well spent…
I urge everyone to check and then double check any old schemes they may have been in…
Keep making the vids….Always great advice….

[Joshuagilchrist]

Can you do a video in the NHS pension?

[paulk]

Great video James, i sorted out my pensions earlier this year. Wasted so many years on a really poor fund, but glad it's all in order now.

[guyr]

Hi James just found your channel, as you say your a Financial planner not an advisor, People need to remember they will get a state pension which currently increases at a minimum of 2.5% pa, so our personal pensions are on top of this. Sadly there are those out there who have very little above the state pension or have only been in company schemes a few years.
Having a plan and listing expenses that you will have when retired V expected income is the first stage, also when no longer working there is more opportunity to spend money so easy to burn through it too quickly.

[moderndroneman]

100% the most informative YouTube subscription I have. Top quality videos, thanks James 👍

[main-monkey-b]

Hi James, I’m 21 and am just about to finish uni and start working - your channel has been extremely useful to me and because of you I have a much clearer idea of financial decisions I should be making, just wanted to say thank you for doing what you do!!

[jasonbooth]

What is the best private pension to pay into? I'm in the Military so i have a military pension but i want to pay into my own private one also.

[karlyau]

Thanks for the video! I have an old final salary pension which will, pay £4K per year but has a transfer value of £130, 000 .. I am 55, and will probably retire at 67 as I have young kids. I am in good health. It doesn’t seem great value so I am considering transferring it to an existing defined contribution pension. What would your recommendation be for ‘mr average’?

[patrickchiam]

Great Video! Can you do a video on NHS pension please?

[kaopin]

Thanks to you, I just tracked down my pension and allocated it to all-equity rather than the generic target date fund.

[paulinemounier]

Hi James! Thank you so much for your work, it really helps!
I have a question, what if you’re self-employed?
I am planning on transferring my pension (while I was employed) to Vanguard. Do I have to open a Personal Pension and transfer my old pension there? And then starting to invest in that Personal Pension from my self-employment?
Thanks,
Pauline

[JPF]

Hi James, I'm a bit late to the channel but find your videos really useful. I currently have a salary sacrifice/additional contributions workplace pension scheme that I pay into. You have said in this video that the government top up this contribution by 25%. How is this achieved? In another video, you also suggested that as I am sacrificing salary, the employer can e approached to pass on NI savings to my pension, how is that achieved. Many thanks

[ChristopherMortemore]

Hi James, you said to ideally keep the annual management fee under 0.5%. Do you have a similar rule of thumb for the total fees of a pension? i.e. including the fund charges (assuming it's invested in passive funds). I'm trying to figure out if my pension with a total fee of 0.75% is reasonable.

[fernleighdevelopments]

Hi James
I’ve been watching your videos so many thanks for the content and explanation.. I have a private pension with prudential which I’ve not paid into for some years its value is around £55, 000 I’m 55 in 18 months. I have a vanguard account which I pay into monthly mainly into S&P 500 and overseas index funds which is seeing good returns, do you think I should transfer my pension into my vanguard funds or just stick out the last 18 months with the prudential… I appreciate lots of other factors might come into this but initially wanted to try to explain. Many thanks Aaron

[pataleno]

I started a work pension almost 20 years ago and left in 2012. I carried on paying £300 a month into it after I left. I also joined new pensions with new jobs... I looked at my first proper work pension recently and it's almost £100k so very happy I carried on paying into it.

[eddieblundell]

Hi james, i have an old workplace pension with nest and also a personal pension what was legal and general and now reassure, ive now gone self employed im 55 next july is there any point me transfering my nest to reassure ?? (If i can do that)...any advice would be great