Investors are being urged to do their research well before signing up for a new or revamped personal pension.

With just a month left before pension simplification takes effect, umpteen number of insurers and financial institutions are renovating their pension products or launching new schemes or plans to benefit fully from the widened investment freedoms in place from April 6.

The pension market shake up will mean that the investors will have more choice than ever over which type of pension they should go in for. But with so many differences in respect to charges and functionality, investors should do their homework first and avoid rushing into buying any new personal pension.

From April 6, those in employer sponsored pension plans will for the first time be able to contribute to a self-invested Personal Pension (SIPP), which can run alongside their occupational scheme.

SIPPS would no longer be allowed to hold residential property or exotic assets such as a racehorse, the range of permitted investments will although include unquoted shares.

Standard Life, one of UK's largest insurers, revealed that, in view of the shift to a single pension's tax regime, it would cease to offer its executive personal pensions.

With various industry big-wigs still to come out with their April 6 package, financial experts have advised people looking out to buy or switch their existing personal pension plans should be careful to choose the right product.

If you are the type of investor, which would not feel comfortable, making his/her own investment decisions you should seek advice.