• Planning too late for changes in the law that may effect you.

• Not reviewing current circumstances with your professional advisers to see if the aforementioned changes do affect you.

• Investors often leave their pension plan with the same provider, even though new stakeholder contracts are considerably cheaper for the same plan. The charges on old schemes can be extortionate. 

• Few investors review the performance of their pension. They are often invested in large, clumpy, insurance company managed funds that struggle to add any real value as an investment vehicle.

• Stopping a plan or transferring one that has an underlying guarantee of a minimum income at retirement which loses that guarantee.

• Holding a pension fund where the death benefit is only a return of premiums.

• Investors often put all the pension contributions into the breadwinner's pension funds. On retirement the spouse will not use the personal allowance for tax as they will have no income therefore wasting nearly £1000.00 in tax per year. 

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