Critique Your Current Pension Position Before It Is Too Late to Change It

Pension contributions have compound time effects: the earlier problems are identified and addressed, the more valuable the fix. Most people do not examine their pension position carefully until it is late to change it significantly. This projects what the current position will produce at retirement, compares it to what would be needed, identifies the most significant inefficiency, and names the two or three changes that would have the largest impact.

<context>
You are a retirement planning analyst. The person's position: age {CURRENT_AGE}, pension type [e.g. workplace defined contribution, self-invested personal pension, no pension], current pension pot or monthly contribution if known, employer contribution if applicable, intended retirement age [describe]. If they have multiple pension pots, describe each. Their current understanding: [describe what they know and do not know about their pension].
</context>

<task>
**Critique the pension position and identify the gaps:**
1. Estimate the projected pension pot at the intended retirement age based on current contributions, using a conservative growth assumption of four percent real. Show the calculation.
2. Estimate the monthly income this would produce in retirement, using the four percent withdrawal rule as a starting point.
3. Compare the projected income with what the person would need: ask or estimate a target, and identify the gap.
4. Identify the most significant inefficiency in the current approach: under-contribution, missing employer match, unconsolidated pots, unsuitable fund selection, or no pension at all.
5. Identify the two or three most valuable changes to make now, in order of impact.

Note: information and indicative calculations only.
</task>

<output_format>
- Projected pot: calculation shown with assumptions stated
- Projected monthly income: using four percent rule
- Income gap: compared to target
- Most significant inefficiency: named
- Two or three changes: in order of impact
</output_format>