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  • Pension essentials Chevron Down Icon
    I'm new to the Scheme
    10 things to know about pensions 
    Nominations for death benefits
    Saving more 
    Pension tax limits
    Transferring in or out
    The State Pension
    Pension scams
    Divorce and my pension
    Guidance and advice 
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    I'm still working
    Joining and auto-enrolment  I'm new to the Scheme Benefits of my membership My payments Saving more My circumstances have changed Severance and redundancy Leaving the Scheme and opting-out
    I'm planning to take my pension
    How much I'll need for retirement  When to retire  Staying in work Ways to take my pension  Making the right decision Applying for my pension Transferring my pension Guidance and advice Watch our for pension scams
    I'm already taking my pension
    My pension payments and P60s Annual pension increase Updating my bank details My pension when I die Working after I take my pension The State Pension Useful contacts Penfriend
    Saving more with BRASS or AVC Extra
    Saving more with BRASS Managing my BRASS Saving more with AVC Extra Managing my AVC Extra How investments work BRASS fund choices AVC Extra fund choices Fund prices and performance Fund risk ratings Taking my BRASS Taking my AVC Extra
  • IWDC members Chevron Down Icon
    I'm still working
    Joining and auto-enrolment I'm new to the Scheme How the IWDC Section works  Benefits of my membership My payments Saving more My circumstances have changed Severance and redundancy Leaving the Scheme and opting out
    Managing my investments 
    How my investments work My fund choices Fund risk ratings Fund prices and performance My Target Retirement Age
    I'm planning to take my IWDC pot
    How much I'll need for retirement When to retire Staying in work How I can take my IWDC pot Understanding drawdown Understanding annuities Understanding encashment Making the right decision Applying to take my IWDC pot
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    Help and Support
    Retirement Budgeting Calculator Read as You Need guides Video library Glossary FAQs DB member forms IWDC member forms Get in touch Reporting the death of an RPS member Making a complaint
    News and views 
    News updates Newsletters Blog Have your say with Platform Opt in to paper communications
    About the Scheme
    Scheme documents  Valuation The Trustee
    Investments
    Our approach to investing  Investment reports Sustainable Ownership Sustainable Ownership blogs Investments glossary
  1. Home
  2. Guidance and advice 

Guidance and advice

Take a look at the specialist sites and professional advisers listed below for guidance and advice on your pension.

Help with your pension from experts

We understand pensions are complicated, however it's important to understand how you can make the most out of yours. That’s why guidance and advice from trusted experts can be so valuable both financially and for your peace of mind. If you’re confused about any aspect of your pension, we encourage you to use all of the information and tools available on this website.

A compass
Financial guidance

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

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:

  • Auto enrolment
  • Building your retirement pot
  • Pension basics
  • Pension problems
  • Pension Wise – access to free and impartial guidance on the options for your pension pot
  • State Pension 
  • Taking your pension
  • Tax and pensions

Go to the pensions and retirement section at MoneyHelper.org.uk 


gov
Gov.uk
The official website for the UK government.
Visit Website
Gov.uk

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:

  • Planning for retirement
  • Tax on your pension contributions, covering allowances
  • Transferring your pension
  • Workplace pensions

There’s also a separate section on the State Pension.


Midlife MOT

If you’re aged 45-65, the Midlife MOT website is specifically designed to help you in 3 key areas:

  • work
  • health and
  • money

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.


Financial Advice

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)

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.

lve
Liverpool Victoria (LV)
0800 023 4187
The chosen partner for financial advice for RPS members.
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Unbiased

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:

  • get contact information for IFAs in your area, including pension specialists
  • be matched with a suitable adviser based on what you need help with

All IFAs listed on the site are registered with the Financial Conduct Authority and the first meeting is typically free. 


Watch out for scams

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.

What to read next...

Watch out for pension scams

Make sure you know the warning signs of pension scams and how to avoid losing your savings. 

Read more
10 things to know about pensions 

Get to grips with your pension in this handy list of 10 top things to know.

Read more
Help and support 

Access a whole range of support to help you understand your pension better, including videos and Read as You Need guides. 

Read more
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Railways Pensions is powered by Railpen Limited
© Railpen Limited 2023. Registered Office: 100 Liverpool Street, London EC2M 2AT
Each of Railpen Limited (registered in England and Wales No. 2315380) and Railway Pension Investments Limited (RPIL) (Registered in England and Wales No. 1491097) is a wholly owned subsidiary of Railways Pension Trustee Company Limited (Registered in England and Wales No. 2934539). Registered office for each company: 100 Liverpool Street, London EC2M 2AT. RPIL is authorised and regulated by the Financial Conduct Authority for some of its activities. The administration of occupational pension schemes is not a regulated activity. Full details about the extent of RPIL's authorisation and regulation by the Financial Conduct Authority are available from us on request.

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