With so much information and so many options available, there’s a lot to consider. The good news is there are a number of ways to get help and guidance.
Before you start, it's vital to remember you can choose from the full range of retirement products and options offered by all providers. Depending on your circumstances, age, health and lifestyle, you may be able to get a better deal elsewhere.
Shop around and get as much guidance and advice as you need before you make any decisions on what is best for you.
When you've decided what you want to do, whether this is with ourselves or another provider, providers are required to ask a series of questions around your understanding of the choices you've made. This process is for your protection and has been designed to make you stop and reflect before making decisions which may be lasting and often irreversible. Based on the responses you give we can provide you with specific risk warnings to help you double check that you've thought about the decisions you've made.
Free and impartial guidance is available from the Government if you’re planning to retire and have a defined contribution pension (a pension based on how much has been paid into your pension pot).
We strongly recommend that you take advantage of this service before you make your decision.
You can get help and guidance on the Pension Wise website, over the phone or face to face about the 6 steps you need to take to turn your pension pot into income for your retirement:
It also explains, when shopping around, how to avoid pension scams and the importance of taking your time to make sure your money lasts as long as you do. Pension Wise won’t recommend any products or tell you what to do with your money.
How to contact Pension Wise:
Web: Pension Wise
Telephone: 030 0330 1001 to book a phone or face-to-face appointment.
The phone line is open from 8am until 10pm Monday to Sunday.
After you've had free guidance you can speak to a financial adviser who specialises in providing help and recommendations in all aspects of pension and retirement planning.
You may need to pay for the advice, but in return they'll provide you with a personal recommendation to help you make the right retirement choice.
You should make sure that they are authorised by the Financial Conduct Authority (FCA) and you can check this on the FCA register.
Finding a financial adviser/planner
You can also get information about pensions from:
The Pensions Advisory Service (TPAS)
Phone: 0300 123 1047
Money Advice Service (MAS)
Phone: 0300 500 5000
Phone: 0800 169 6565
You can request a quote for any of our retirement products online or over the phone.
You can access these services from our products.
Monday to Friday, 9am to 5pm
We may record and monitor calls.
We strongly recommend that you seek guidance from the Government’s free and impartial service Pension Wise.
Find out more about guidance or advice
Remember, it’s important to shop around and get as much guidance and advice as you need before you make any decisions on what is best for you.
We've done our best to avoid complex jargon but take a look at our jargon buster if you need more explanation on any terms we use.