We do not advise on pensions however; we use a pension specialist. He will review all your pension provision in line with your current risk profile and ensure that the charges and performance are competitive.
A pension is a long-term investment/savings plan that aims to build a fund for your retirement. Contributions normally qualify for tax relief at whatever rate of tax you normally pay. The fund normally grows free of tax. Under current legislation you can take up to 25% of the fund tax free and receive an income from the remainder of the fund. However, there may be options to receive the remainder of the fund as a lump sum less tax. All options should be explored before a decision is made.
It is also important that you have up to date information on all previous pension arrangements whether these are personal pensions or from previous employers. The information is required so that a regular review can take place to ensure that the investment structure is still in line with your risk profile, charging structure, performance.