Official figures from the Office of National Statistics state that two in three people in Britain do not have a private pension, which has led to wide spread speculation that those not saving for their retirement could be spending their final years in poverty.
For the one third of people who do have pension provision, most are enjoying significant increases in the value of their funds with contribution pensions holders seeing growth of up to 33% more than they were two years ago.
However on the flip side, many other pension holders are still stuck in underperforming funds which could have nearly as little financial impact on retirement as having no pension at all. While money is tight and the economy is flat, it is essential to ensure that your pension is invested in funds that are going to perform well for you. And if you find that your investment is not achieving the growth you would like, then it may be time to take back control and ensure you are not left behind when retirement age arrives.
The Self Invested Personal Pension (SIPP) introduced in 1999 provides an opportunity for any pension holder to take control of their future, and transfer existing or new pension products into funds that they feel will work for them, taking command of their financial prospects and leaving nothing to chance.
Though you may have several preserved pensions funds from old employer schemes or SERPs related options that are not performing as well as you would like, by transferring these underperforming funds into a SIPP facility you can opt to invest in industries from across the globe that not only meet your financial expectations but also appeal to your conscience too.
Unlike many other commodities that are seeing significant decline in recent years, demand in the forestry industry remains strong and this year tropical hardwood alone will supply almost 90 million cubic meters of wood, enough to fill the Empire State Building nearly 100 times. Yet investing in timber not only makes economical sense, it also contributes to a sustained and positive environment.
As trees keep growing, so it is possible to enjoy growth in your forestry investment, even when stocks and shares are on the decline. With the introduction of SIPPs, individuals can now easily transform underperforming funds into an investment prospect that financial managers have been using successfully for so long.
With steady, stable increases within the funds and predictable returns, similar to the growth of a tree itself, timber is a perfect investment for pension funds and while your pension grows, so does the health of the planet, providing a greener and more sustainable environment for future generations as well.
So if you want to take back control of your future and find an ethically sound investment that is going to work for your pension, then consider transferring your underperforming funds into a SIPP and investing in the timber industry to give the chance to create a solid foundation for your future.