• E32: How to understand your pension balance with Tim Hogg, Faith Archer and Alex Langley

  • Oct 27 2024
  • Length: 30 mins
  • Podcast

E32: How to understand your pension balance with Tim Hogg, Faith Archer and Alex Langley

  • Summary

  • Enjoying the podcast? Tell us what you think below and give us a review or rating. As always we’d love to hear your suggestions and feedback. Send us an email: podcast@pensionbee.com. With our busy lives, it’s easy to overlook those annual statements from your pension provider. But knowing how much you have saved is essential for planning a comfortable retirement. This month on The Pension Confident Podcast we’re talking about how to understand your pension balance. Join our host, Philippa Lamb, and our expert panel as they break down everything from making sense of those annual statements to hunting down lost pension pots. Behavioural Economist and Director at Fairer Finance, Tim Hogg;Financial Journalist and Founder of Much More With Less, Faith Archer; andPensionBee’s Senior Team Leader, Alex Langley. Episode Breakdown: 01:03 What is a pension balance? 02:50 How to check how much you have in your pension? 04:40 What happens if you’ve lost your pensions? 06:44 Avoiding pension procrastination 10:20 How can you check if you’re on track for retirement? 13:40 The ‘fresh start’ effect 16:40 The Retirement Living Standards 20:31 Overcoming ‘present focus’ 22:12 How can you improve your pension balance? 26:35 Saving for a longer life Further reading: To learn more about where you could put your savings, check out these articles and podcasts from PensionBee: Episode 32 transcriptE29: Pensions vs. cash - which is best?E26: Are you ready for your 100-year life?E18: How to not run out of money in retirementE11: How to prepare for a happy retirement How are pensions invested? How can I find my pensions? How to diversify your pension investments How to look after your financial wellbeing in 2024 Understanding market volatility and how it can impact your pension What is a defined benefit pension? What is a defined contribution pension? What is a pension statement? When will my pension balance recover? Other useful resources: How do I find lost pensions? (Gretel)Inflation Calculator (PensionBee) Life expectancy calculator (Office for National Statistics)Pension Calculator (PensionBee)Pension Tracing Service (GOV.UK) Temporal focus: Thinking about the past, present, and future (Science Direct)The Retirement Living Standards (Pensions and Lifetime Savings Association) What is the fresh start effect? (The Behavioral Scientist) Catch up on the latest news, read our transcripts or watch on YouTube: The Pension Confident Podcast The Pension Confident Podcast on YouTube Follow PensionBee (@PensionBee) on TikTok, YouTube, Instagram, LinkedIn, Facebook, X and Threads. Follow Fairer Finance (@fairerfinance) on Instagram, LinkedIn, Facebook and X. Follow Faith Archer (@MuchMoreWith Less) on LinkedIn, Facebook and X.
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