So many of us sail through life thinking there’s plenty of time to sort out our pensions. After all it’s ages till we retire and anyway there’re more important things to spend our money on in the here and now. And then all of a sudden, there’s a ‘special’ birthday coming up and before you know it you’re in your fifties. Now retirement doesn’t seem quite so far away. But if the whole pensions thing seems like a minefield to you and you’re worried you won’t be able to get unbiased pension advice, then read on …
Unbiased Pension Advice
Planning for the days when you’re retired is extremely important. After all you don’t want to be left with so little money that you can’t enjoy a similar lifestyle to the one you’re currently living. Retirement planning is without doubt daunting and often confusing. But as long as you’re over 50, you can get impartial and unbiased pension advice from Pension Wise and what’s more it’s FREE!
In a nutshell, Pension Wise is a free and impartial advice service from The Government, which provides you with the opportunity to talk about your pension(s) and help you to understand what your options are and where you go next.
Any appointment you make with Pension Wise will be with a qualified pensions guidance expert. If you’re pushed for time, the appointment can be over the phone but if you prefer you can talk face-to-face about your options. As all Pension Wise specialists are impartial and offer unbiased pension advice, they can’t recommend specific products or tell you what you have to do, but they will help you to understand things a bit better. They’ll explain about taxes and charges and suggest what you may need to be wary of when making financial decisions about your future. They’ll also give you tips on how to avoid pension scams.
How to Keep Your Pension Safe
Firstly, always IGNORE ALL UNSOLICITED EMAILS & TEXTS! And be very wary of cold calls.
NEVER give your personal details to anyone ringing up saying they’re from Pension Wise or the government.
Neither Pension Wise or the government would ever text or phone you about your pension!
If you are going to make a serious financial decision, then it’s important to ensure your advisor is on the FCA (Financial Conduct Authority) approved register. The FCA also has a list of well-known scams so you can check if any deal you’re being offered is a scam or not.
If you are concerned or worried in any way then:
Contact The Pension Advisory Service on 0300 123 1047.
Worried you may have been scammed?
Contact Action Fraud and/or your pension provider immediately on 0300 123 2040.
For more information on scams, go to www.pensionscams.com .
Book a Pension Wise appointment
Call 0800 138 3944 to book an appointment.
(Before your appointment, it would be useful to have an idea of the value of your pension pot and an estimate of how much State Pension you’ll get.
So that you have all the information to hand before you speak to them it’s also worth noting down any debts you’re paying off. Will you still be supporting children financially when you retire? Do you have any Benefits? Consider how much money you need now and how much you’re likely to need in the future.)
Take a look at Pension Wise for more information and advice.
Then perhaps take a look at Stressing About Your Finances.