Pension Wise is a free government service introduced following the Pension reforms introduced in 2015 that helps the over 50's understand what they can do with their pension pot money.
New pension reforms came into effect on 6 April 2015 giving people over the age of 55 greater access to their pensions pension pot. To help people understand their pension options the government introduced Pension Wise, now incorporated into MoneyHelper.
MoneyHelper offers guidance to help empower people to make informed decisions about their pension which are best for their individual circumstances.
It offers guidance online or appointments over the telephone or face-to-face meetings where you can talk through these options, ensuring you have the information you need to make the right decision.
The service is impartial and free for you to use but it will not recommend companies or tell you how to use your pension pot or invest your money.
MoneyHelper can help you with:
- Understanding all the tax implications
- What to think about when considering your choices, such as your plans to continue working, your personal and financial circumstances, and leaving money after you die
- Understand the different options and the possible advantages and disadvantages of each
Advice and guidance is available in the following areas:
- Your pension details
- Taking your pension money
- Tax and pensions
- Pension problems
- Living and retiring abroad
- Divorce and pensions
- How safe is your pension
- Pension draw down
- How to complain about a pension
To book an appointment over the phone or face to face to discuss the options you have for taking your pension money follow this link.
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