On 6 April 2015, pensions changed to give you more freedom to decide what to do with your pension pot.
Pension Wise is a new government service that will help you go through your options so you can make informed and confident decisions that are best for you and your family.
How Many Local Citizens Advice Centres Deliver Pension Wise?
England and Wales – 50 local Citizens Advice delivery centres who are able to cater for over 500 locations through outreach.
Pension Freedoms - What Are The Flexibilities?
- At Budget 2014, the Government announced changes to the way people take their pensions.
- Hardworking taxpayers who’ve saved all their lives have a real choice over their money, enabling them to make important decisions about their future.
- The new pension freedoms which were introduced in April, 2015 mean people over 55 who have a defined contribution pension, can now take their pension savings as an annuity, cash or flexibly over time.
Guidance - How Can People Get Help?
- To guide people through their pension options, the Government set up a free and impartial guidance service, Pension Wise, which is available online, over the phone and face-to-face.
- The face-to-face appointments of Pension Wise are delivered by Citizens Advice and phone appointments by The Pensions Advisory Service.
- An appointment is a 45 minute conversation between you and a Pension Wise guidance specialist. You’ll get personal guidance on what you can do with your pension pot.
- Pension Wise guidance specialists are impartial. They don’t recommend any products or companies and won’t tell you how to invest your money.
- All of the guidance specialists are trained to rigorous FCA standards and the course is accredited by the Chartered Insurance Institute.
Who is the Service for?
- Aged 50 or over
- Have a defined contribution fund(s)
Booking an Appointment with Pension Wise
You can book a phone or face-to-face appointment with Pension Wise by calling 0300 330 1001 or visiting the Pension Wise Website