Guidance and advice
Take a look at the specialist sites and professional advisers listed below for guidance and advice on your pension.
It’s worth taking the time to get guidance from the specialist sites or professional advisers listed below. Using an adviser can be expensive, so make sure you’ve read all of the information available to you first.
MoneyHelper from the Money and Pensions Service (MaPS), brings together the support and services of 3 government-backed financial guidance providers: Money
Advice Service, The Pensions Advisory Service and Pension Wise.
It offers free support on a wide range of financial matters, online and over the phone. This includes a variety of pension topics, including:
The official website for the UK government, gov.uk offers clear information on a wide range of financial issues.
The workplace and personal pensions section in particular addresses a variety of pension-based topics, based around a handy A to Z list. This includes:
There’s also a separate section on the State Pension.
If you’re aged 45-65, the Midlife MOT website is specifically designed to help you in 3 key areas:
It includes a new tool from the government’s MoneyHelper service, which will help you understand your current finances, and learn what you can do to improve your financial wellbeing from now until retirement.
Created by the Department for Work and Pensions (DWP), the site also offers advice on things like finding work over 50, how to get a free NHS health check if you’re over 40 and where to go for financial support or help to get out of debt.
Unlike the guidance services above, financial advisers can offer you professional advice on financial decisions. In order to operate, they must be authorised by the Financial Conduct Authority (FCA). This means they have to agree to a certain level of standards and you can get additional support through the Financial Ombudsman Service or Financial Services Compensation Scheme if things go wrong.
Liverpool Victoria (LV) has been chosen as the preferred partner to give RPS members access to financial advice. They balance the cost and quality of advice.
LV is regulated by the FCA, covers all areas of pension and financial advice and has a dedicated team, with specific knowledge on the Scheme.
LV can be contacted on 0800 023 4187.
You can also choose your own Independent Financial Adviser (IFA). Just make sure you understand all of the potential costs for their services upfront before making a decision.
You can find a register of Independent Financial Advisers (IFAs) at unbiased.co.uk. An IFA will help you understand your pension, the options available, and how to manage your finances.
By using Unbiased you can:
All IFAs listed on the site are registered with the Financial Conduct Authority and the first meeting is typically free.
If you’re looking for financial advice, be very wary of scams and fraudsters. They often pose as advisers but are out to steal your savings.
Visit the dedicated pension scams page to learn what to look out for and how to stay safe.