Pension planning for business owners

Don't forget about your pension. As your earnings change you may want to adjust contributions, and the nearer you get to retirement the more you can pay in.

Take stock

When you get your annual pension statement take some time in assessing your pension needs to see if your pension is still suitable. The statement will include an illustration of your pension income in today's prices.

Get forecasts

Some pension providers and employers are already offering combined pension forecasts, which give you an estimate of what you can expect to receive from your company scheme and the state, including the State Pension - see the State Pension.

If it looks like the fund won't meet your needs, you could increase your contributions or consider an additional scheme.

If you have lost track of a pension

If you think you have entitlement to a pension but for some reason are no longer in contact with the company and have lost touch with the pension scheme, the Pension Tracing Service may be able to help - call The Pension Tracing Service Enquiry Line on Tel 0845 600 2537.

Problems with your pension

If you have a problem with your pension that can't be sorted out by the provider, you can get help with pension problems.

If you have a complaint about the way you have been sold a pension, you can contact the Financial Ombudsman Service.