A. How people can access their pensions changed April 2015. If you’re 50 or over and have a defined contribution pension (a pension based on how much has been paid into your pot), you now have more ways to access your pensions savings. it’s your decision how you take the money. Pension Wise was set up by the UK Government as a free and impartial service to help you understand what your choices are, how they work and help you to make an informed decision. You will be able to get guidance on what you can do with your pension pot; different pension types and how they work; what’s tax-free and what’s not; how to shop around and avoid scams; where to find out more and what to do next.
You can access guidance:
- Face to face through a national network of CAB service points
- By phone
Go to the Pension Wise website or call 0800 138 3944 to find out more and book a free appointment.
A. Pension Wise is an impartial guidance service The guidance provided will enable people to better understand their options and ensure they know what questions to ask before they commit to decisions about their pension. It can signpost them other sources of trust information and help; show them how to shop around for products & services and how to avoid scams; show them the next steps they might want to take before making any choices.
It is a free and impartial service - as opposed to regulated financial advice - so you won’t get a recommendations for specific products or providers nor how to invest your money.
A. The Pension Wise service is being delivered across Scotland by our network of CAB members operating in around 80 CAB offices and local service points. Local arrangements will also be made for those people with accessibility needs including home visits where appropriate.
A. To make an appointment go online at Pension Wise website or call 0800 138 3944.
A. No. The guidance offered will be the same.