Pensions used to be fairly simple. Work pensions used to be really good and so it was well worth joining the pension scheme and paying in. As jobs tended to be for life, you would leave the company after 45 years and have a great pension.
These days, work pensions are not so good s they used to be and people often have to change jobs which means they have to move their pension around. This tends to mean that they are not so good as they used to be. This means that people need to make sure that they will have enough money for their retirement.
It can be difficult doing this, but any company that you have a pension with, should be able to provide you with a pension forecast, showing what you will receive when you retire should you keep paying in as you are. You can also ask for this for your government pension as well. These calculations do not take inflation in to account, but they will give you a good idea of what to expect when you retire.
Most people, sadly find it a bit of a shock when they see how little money they will have to manage on when they retire. You will have a few less bills, with no children at home to feed (probably) and you may have paid off the mortgage, but you will still have to pay the council tax, electricity, gas, water, TV licence, phone, food and household goods and then you will also need clothes and things for the home and you may even want to take a holiday from time to time. It can therefore be wise to use a IFA Nottingham to help you to work out what might be the right option for you, whether you should think about getting a personal pension as well so that you know you have enough for you to have a good retirement.