Financial advice

In this section

You are always recommended to get independent financial advice before making any decisions about your pension.

01.

Finding an adviser

The following organisations may be helpful:

The Money and Pension Service offers free and impartial advice to people with workplace and personal pensions.
Money Helper offers free and impartial money advice, including pensions and retirement information.
The FCA regulates firms and individuals that provide financial advice.

Your fire and rescue authority and pension administrator can help with questions but are not allowed to provide advice.

02.

What to look out for when selecting an adviser:

There should be no charge for the initial meeting, at which the scope and cost of the advice will be discussed.
A fixed fee is more common than a time-based fee.
Most advisers publish their terms of business and fee structures on their websites.
Once they know more, the adviser will provide recommendations in the form of a written report.
Advisers must make sure that their clients are made fully aware of the risks in any recommendations which they make.