Pension guidance and advice
Make decisions about your pension using professional advice or free guidance.
Take your time
Baking a cake takes patience, but it’s worth it when you can finally get it out of the oven. Pensions are similar. Ok, sadly they’re not as nice to eat, but they also reward taking things slowly.
Making decisions about your pension takes time – and that’s a good thing. Going slowly helps you weigh up your options, understand what’s right for you, and feel confident about your future.
Before dipping into your pension, explore other saving or support options. If you’re experiencing financial difficulties, visit the MoneyHelper website. MoneyHelper also has a debt advice locator tool.
How can financial advice help?
Using an independent financial adviser (IFA) means the advice is tailored to you. An IFA could help you make informed decisions, based on your individual circumstances.
If you’re concerned about the cost of getting professional advice or don’t feel you need specialist advice, you can also get general guidance for free.
How can you find financial advice?
- Talk to your friends and family. People who already have a financial adviser are usually happy to share their experience.
- Ask your employer. Some employers offer access to free or low-cost financial advice.
- Visit MoneyHelper to read their information about choosing a financial adviser.
- Check names in the register. The Financial Conduct Authority (FCA) keeps a directory of authorised financial advisers and firms.
How can you get guidance
Pension guidance is usually free, unlike financial advice, which you’ll normally pay for.
- Pension Wise is a free service aimed at people aged 50 or over, designed to help you understand your pension. It’s backed by the government and offers impartial guidance to help you make more informed decisions.
- MoneyHelper are the providers of Pension Wise, so you know you’re getting the same unbiased guidance. Read MoneyHelper’s information about pensions and retirement.
- TaxAid offers free information for people dealing with a tax issue. For over-60s who need pension tax support, there’s also Tax Help for Older People. Both organisations are registered UK charities.
- Check with your employer. Some employers offer financial guidance or other forms of support, so find out what your workplace will offer.
nudge for People’s Pension members
We’ve partnered with nudge, a leading financial education platform, to deliver everything you need to take control of your financial wellbeing.
As a members-only benefit, you can sign up to nudge for free and access trusted, practical financial education that’s personalised to you. Get started with nudge.
Spot scams
Remember, pension scammers put a lot of effort into seeming trustworthy. Some scammers even pretend to be financial advisers. But there are things to look out for. If someone contacts you with a way to make money from your pension, stay on your guard. If a deal seems too good to be true, it probably is.
Read more about the signs of a pension scam.
