How To Recognise The Key Elements of A Great Pension Scheme

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What does your ideal pension scheme look like? If you have not taken the time to assess what kind of scheme you would like to have, now would be a good time to.

Before you simply sign on to the first one that comes to your mind, a little due diligence is needed on your part. The following is by no means an exhaustive list of considerations, we do however hope that help as a starting point in your endeavour. 

  1. Do they cater to your industry?

Some pension funds only cover one industry. It might be a safe option to go with a fund manager that caters to all sectors of the economy because you can trust that they are diverse with their fund management expertise as well as have your future always in mind.

  1. What are their investments options? 

A good pension fund lets you know what options they invest in so you know what kind of returns to expect when you trust them to manage your fund. A typical pension fund ideally invests in various instruments such as government bonds, corporate bonds, property, fixed deposits and cash deposits.

  1. How do they communicate?

A lack of communication regarding your investment should be worrying. A pension fund needs to first and foremost educate you on their products and services and help you make a better informed decision. I s their service to you backed by hard research and analysis? Are they heavily invested in technology to help their processes run smoothly?  

  1. How do they manage their investments

Another good sign to look out for in a good pension fund is how they manage their investment. Do they have a dedicated fund manager who makes sure that your account is well taken care of? Are they truly concerned with your future and making sure to offer you the best advice and information regarding your fund? Just a few questions to consider.

  1. Do they provide value for money?

We all want value for money when it comes to purchases or investment. A good pension scheme needs to put your needs, as their client, first. The team needs to help you plan strategically, so your plan of choice aligns with your long term business performance objectives. 

  1. How easy is it to set up a fund with them?

No one likes to jump through too many loopholes to set up something that should ideally be straightforward. The process of signing up with a pension fund should be as smooth and transparent as possible. With your fund managers helping you make guided decisions about your chosen plan. Select administrators who help guide your decisions, optimize performance and ensure compliance to help you meet your current and long-term objectives of retirement and employee benefit plan.

  1. How big is their portfolio and how much experience do they have in this sector

Here is where experience speaks best. When looking for a fund manager for your pensions needs, its always best to go with one that has been in this business for a considerable number of years and preferably has considerable financial strength. You can always rest assured that your fund is safe and will sure to survive in times of economical instability.

We hope that your search leads you to a company with all of the above and a little extra by way of efficient friendly service and a willing guide to walk you through the sign up process.