Although often overlooked, the cost of investments including initial and exit charges, annual management fees and platform fees, can have a significant impact on the performance of investments over time. 

Some older investment products, including pensions, have significant charges and exit penalties which may prohibit people from moving these into a more suitable investment with lower fees.

This highlights the need for people to review their investments regularly to check that they are still suitable for their needs and are performing in line with their expectations.

Pensions need to be reviewed regularly and in particular, in the 10/15 years ahead of planned retirement. If you have a number of older pensions from previous employment, it may be worth reviewing whether to consolidate these into your current pension. You will need to consider whether older pensions have exit penalties or protected benefits such as Guaranteed Annuity Rate, and you may wish to take advice.