The 2014 Budget announced fundamental changes to the way people will be able to access their pension savings when they reach age 50 from April 2015. They will now have a range of options available to them:
Note: The guidance will cover the implications that each of the options will have on areas such as tax and means tested benefits. Pension Wise offers guidance, not regulated financial advice. It can help you understand the information you need to make a decision, but the choice is yours. It will not recommend any financial products or providers and adheres to Financial Conduct Authority standards.
Who is Pension Wise for?
Pension Wise is aimed at people that:
• Are approaching or over age 50
• Have a defined contribution pension pot(s)
• Have not had a guidance appointment before
Click here to learn about the common pension terms
Local Pension Wise Delivery Centre
Arun & Chichester Citizens Advice Bureau is a delivery centre for the Pension Wise ‘face to face’ service – offering pensions guidance and options from their highly trained Pensions Guidance Specialists.
How to get help from Pension Wise?
• Online:You can get guidance on the pension options available from the Pension Wise
• By telephone: Contact 030 0330 1001 (between 8am and 10pm, Monday to Sunday)
• Face to face:Contact any local Citizens Advice for information about Pension Wise and how to book an appointment at a location nearest to you. Note: The face to face appointments are scheduled to last about 45 minutes.
The Face to Face Appointment
What will be covered during the face to face appointment?
• Pension and retirement information
• Highlight all the things they need to consider by asking for information and raising issues
• Help users to understand the pros and cons of the options they have
• Practical next steps and things to think about before they decide what to do
• Empowering users to ask questions, shop around and avoid pension scams.
You can prepare for your appointment by:
• finding out the value of your pension pot(s), if you need assistance you could contact your Pension administrator
• getting your state pension forecast