If you’re thinking about your pension but not sure where to look or how to start, here are 8 simple steps we put together to help you check your pension health.
1. Check your state pension entitlement
Use the Gov.uk website to find out your state pension retirement age, how much you might get, how many years you have contributed (through NI Contributions) and what you can do to increase your state pension (if you’ve not paid in enough).
2. If you have lost track of any previous workplace pensions, try the missing pensions service
Go to Gov.uk to find the contact details for your old pension providers. You can also use services like Gretel or Aviva’s Find and Combine platform to trace lost pensions for free.
3. If you haven’t yet got a workplace pension, or have opted out, put something in place as soon as possible
All employers must offer a workplace pension if you:
- Are classed as a ‘worker’
- Are aged between 22 and State Pension age
- Earn at least £10,000 per year from a single employer
- Usually work in the UK
Opted out? You could be missing out on tax relief, a safety cushion for retirement and, importantly, additional money from your employer!
4. If you are self-employed, make your own arrangements
Take a look at the different personal pension options available, like stakeholder pensions and SIPPs.
5. Think: Can I afford to contribute more? Am I maximising any employer matched contribution level?
A standard auto-enrolment pension contribution is 8%, which is typically a 5% employee contribution and a 3% employer contribution. However, the Living Pension benchmark is 12%, a standard aimed to meet your basic needs in retirement. It’s worth reviewing your budget to see if you can increase your current contribution.
Many companies now offer matched contributions. For instance, if you contributed 6%, they would also contribute 6%, bringing you up to Living Pension level!
6. Review your death nomination/expression of wish form
Have you thought about who will receive your pension in the event of your death? Contact your workplace pension scheme or pension provider to check the current details on file.
7. Review your investment fund at least annually
Everyone should get an annual statement from their workplace pension provider(s). You can use this as an opportunity to check fees, performance and risk level/category of the funds your pension is invested in.
8. Nearing retirement? Get advice from Pension Wise or another source
There’s so much help available! Pension Wise offers free appointments, for those aged 50 or over, to talk through options for taking money from your defined contribution pension. If you’re nearing retirement or would like further guidance, use Unbiased to find a pension adviser.
For more information from The Money Charity about achieving Financial Wellbeing Freedom in your life beyond work, see pages 28-30 of our free Money Manual, the essential guide to managing your money well.
Note: Contribution rates and other factual information is correct at time of publication based on the 2026/2027 tax year, but they do change and should be checked prior to making any decisions. This article is intended to provide information and guidance but does not constitute financial advice.
