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Michael Browne

Pension Wise: Free impartail advice

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Pension Wise

 

Pensions will change in April 2015. If you’re 55 or over and have a defined contribution pension (a pension based on how much has been paid into your pot), it’s your decision how you take the money.

 

Pension Wise will be a free and impartial service to help you understand what your choices are and how they work.

 

In order to protect consumers from imitators of the service and ensure the guidance brand is trusted, the government will make the imitation of Pension wise illegal through the Pension Schemes Bill. Anyone seeking to pass themselves off as the service could face prosecution.

 

 

How the pension guidance service can help

 

You’ll be able to get help on the Pension Wise website, over the phone or face to face about:

 

  • what you can do with your pension pot
  • the different pension types and how they work
  • what’s tax-free and what’s not

Register your interest

 

Pension Wise is coming soon and you can register your interest to get early access to the service. You’ll get help and guidance, as well as being able to give feedback about how the service can be improved.

 

 

More help and guidance

 

You can get help now with pensions by reading about:

 

You can also get information about pensions from:

 

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Pension Wise guidance appointments

 

You can book a phone or face-to-face guidance appointment to help you understand your pension options.

You’ll talk about:

 

  • the different ways you can take money from your pot
  • what each option means for your circumstances
  • next steps you can take

Speak over the phone or face to face

 

Appointments are free and impartial. Phone appointments are with The Pensions Advisory Service and face-to-face appointments take place at branches of the Citizens Advice services.

 

Afterwards you’ll receive a letter with a summary of the pension options and what they mean for your circumstances.

 

Pension Wise guidance specialists don’t recommend any products or companies and won’t tell you how to invest your money.

 

Who can book

 

You can book if:

 

  • you’re close to or over 55, and
  • have a personal or workplace pension based on how much has been paid into your pot - a defined contribution pension.

Preparing for your appointment

 

To make your appointment as useful as possible, it would be helpful to know the following information:

 

  • the value of your pension pot(s) - check your pension paperwork or ask your provider
  • an estimate of your State Pension - call the Future Pension Centre on 0845 600 4274 for a State Pension statement
  • any special arrangements attached to your pension pot, eg a guaranteed annuity rate or a guaranteed pot value at a certain time - ask your provider

Think about your financial circumstances in general and plans for retirement, eg:

 

  • sources of income like salary, benefits, savings, investments
  • debts and repayments you might have
  • when you want to stop working
  • if you want a fixed or flexible income in retirement

How to book

 

Call 030 0330 1001 between 8am and 10pm, Monday to Sunday. Calls cost the same as a normal call - if your calls are free, it’s included.

Pension Wise only provides guidance on what you can do with a defined contribution pension - you can get help with defined benefit pensions at The Pensions Advisory Service

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what I might ask on here is:- say a peep takes his Pension Pot and say spends it, on retirement I take it they can claim Pension Top Ups??? a lot of talk in media utilize pension pots, but will peeps look to a better pension scheme,,, Thoughts of the old section 32 comes into mind here (without being able to take some/all)????


:mad2::-x:jaw::sad:

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what I might ask on here is:- say a peep takes his Pension Pot and say spends it, on retirement I take it they can claim Pension Top Ups??? a lot of talk in media utilize pension pots, but will peeps look to a better pension scheme,,, Thoughts of the old section 32 comes into mind here (without being able to take some/all)????

 

It could be the next mis-selling scandal.

 

HB


Illegitimi non carborundum

 

 

 

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style="text-align:center;"> Please note that this topic has not had any new posts for the last 1670 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you
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