Being engaged with your pension savings, and checking regularly how the investments are performing is a fundamental part of using a SIPP. But it comes with no investment return guarantees. So if you do fancy releasing funds from your pension, to take a more hands-on approach, you should keep the following in mind:

• Do your research prior to making an investment decision.

• Keep up-to-date with your pension performance.

• Make time to review your decisions.

• Take responsibility for your investment decisions.

• Be able to say “No!” if an investment does not look right to you.

Many of us won’t be able to rely on Inheritance or the State to cover the costs of our twilight years, so it’s of the utmost importance to get the best possible return out of the money we set aside each month.

Remove the excuses for standing back and allowing your pension to underperform.

It is also worth considering taking advice from a suitably qualified individual that is more expert in the area of pensions than you.