Belmayne urges savers to understand pensions

Dronfield-based financial planners, Belmayne, are advising pension savers to find out more about what is happening to the money they are investing.

Recent research by the firm has revealed some people are paying exorbitant fees, being subject to underperforming funds and having money invested in areas of concentrated risk.

Belmayne financial planner, Andrew Boulton, said: “We have reviewed a few pensions for new clients recently that have uncovered some shocking findings. Some were subject to fees of well over 2-3%, whilst others were being invested with consistently underperforming active managers or in small, high-risk sections of the market.

“A pension provider should be able to explain clearly and concisely where clients’ money is invested, how it is performing and what impact fees are having on returns. If they can’t do this, we can find out, at no cost.”

Belmayne focuses on the aspects of financial planning that can be controlled, to deliver a fair, transparent proposition. The firm’s total annual charges (including advice fees, fund fees and product fees) amount to 1.3% or less and it only offers evidence-based passive investments that are demonstrably more consistent than active ones.

Andrew added: “Our recent findings have made us worried that if investors don’t ask the right questions, their retirements are not going to pan out as they’d hoped. It is vital to determine if your pension contributions are enough, how the money is being invested and what fees you are paying and to whom. We don’t buy a car without understanding what’s going on under the bonnet, so why don’t people take the same level of interest in their pensions?”

Belmayne has created a four-point action plan to help savers work out if their pension is on track. It comprises:

• Check your state pension –are your contributions up to date?

• Check where all of your pensions are –who do you contact to obtain information about your pensions?

• Check the total fees you are paying – if they amount to more than 1.5% you should be asking why.

• Check how your money is invested – your pension provider should be able to clarify this and should not charge you extra for the privilege.

Look North presenter to host the Barnsley and Rotherham Business Awards 2023

Barnsley & Rotherham Chamber of Commerce is set to welcome BBC Look North presenter Amy Garcia, who will host its highly coveted Barnsley & Rotherham Business Awards.

Taking place on Friday 3rd November at the Magna Science Adventure Centre and sponsored by the RNN Group, the event will celebrate and showcase the exceptional achievements of businesses across South Yorkshire.

Amy Garcia is a well-known face on TV screens across Yorkshire, having presented the region’s most-watched news programme, BBC Look North, for an impressive 10 years. With her straight-talking nature and ability to put people at ease, Amy has become a trusted and respected figure.

Known for her adventurous spirit, Amy has never shied away from a challenge. From cycling the 250-mile Tour de France route across Yorkshire on a tandem for Sport Relief to dragging the Look North sofa 150 miles through snowstorms and torrential rain, Amy’s commitment to charity has seen her abseil down a 120-foot building, be strapped to an aeroplane, and plunge into caves beneath the Yorkshire Dales, helping to raise thousands of pounds for Children in Need.

Throughout the evening, Amy will present winners with awards from nine different categories and will also be responsible for crowning the winner of the Business of the Year Award.

Shane Young, Operations Director at Barnsley & Rotherham Chamber of Commerce, said:

“With her impressive background and her unwavering dedication to her community, Amy was the perfect choice to celebrate and honour the achievements of businesses in our region, and we are looking forward to giving her a warm welcome.

The Barnsley & Rotherham Business Awards is one of the highlights of the Chamber’s calendar of events, and whether you work for a large or small business, are just starting out on your business journey or celebrating a milestone anniversary, there’s never been a better time to celebrate your achievements over the past twelve months.”

To find out more about Belmayne’s pension review services, telephone (01246) 298181, visit www.belmayne-ifa.com or follow the firm on X, @belmayne.

Now in its fourteenth year, the Barnsley and Rotherham Business Awards has become a prestigious platform to recognise excellence, innovation and success across various sectors. This year’s awards introduces a new category, the Sustainability Award, which recognises businesses demonstrating a strong commitment to environmental practices and positively impacting the local community.

Businesses of all sizes and sectors within South Yorkshire’s ‘S’ postcode area, as well as members of the Barnsley & Rotherham Chamber of Commerce, are invited to participate by submitting nominations.

Entries are now open and will close on Friday 1st September 2023. Individuals and organisations are encouraged to put forward deserving businesses that have made a significant impact in their respective categories.

In addition to the category awards, the awards will also recognise the contributions of longstanding businesses that are celebrating their 25th, 50th, 75th and 100th anniversaries with a special salute to business award.

For more information about the award categories, nomination process and event details, please visit the official Barnsley and Rotherham Business Awards website at www.brawards.co.uk.

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