Help and guidance

Getting guidance on your workplace pension

Making good decisions about your pension is vital – both when you’re looking to build up its value and when you want to take taking money out. There are various sources of help and guidance to support you.

Help from your employer

Your employer may provide access to guidance and advice on your pension choices, particularly in the run-up to retirement. Contact them to see what’s available.

Personalised advice from a regulated financial adviser

For advice based on your specific circumstances, a professional financial adviser may be your best option. They will charge for their services but may offer an initial meeting free of charge.

If you don't have a financial adviser already, you can find one close to you at unbiased.co.uk(Opens new window)(Opens new window)(Opens new window). All advisers listed are regulated by the Financial Conduct Authority (FCA). Advisers can be filtered by location and their area of expertise (for example, ‘Pensions & retirement’). Within pensions, you can request advisers with particular expertise in, say pension consolidation or transfer, income drawdown, or annuity purchase.

Pre-retirement advice from Pension Wise

If you’re planning to take money out of your workplace pension in the near future, you’re entitled to free and impartial guidance from the government service, Pension Wise. 

You need to be aged 50 or over to use the service. Pension Wise can’t recommend any products or companies and won’t tell you how to invest your money, but, it can outline your options for taking money out of your pension, how they will be taxed and give you next steps to take.

You can speak to one of Pension Wise’s specialists over the phone or book a face-to-face appointment. You’ll be provided with a summary of the pension options discussed after your appointment. Visit pensionwise.gov.uk(Opens new window)(Opens new window)(Opens new window)(Opens new window) or call 0800 138 3944 to book a free appointment.

Money Advice Service

The Money Advice Service(Opens new window)(Opens new window)(Opens new window), also set up by the government, provides free and impartial advice on pensions and retirement, as well as a range of other money issues. You can talk to an adviser using webchat via the website or by calling 0800 138 7777.

The website also includes useful tools that allow you to calculate your likely retirement income and to see what different retirement income choices could mean for you. The Money Advice Service can’t provide specific product recommendations.