John*, 66, attended a Pension Wise appointment, very confused about some paperwork outlining his pensions. He had just reached state pension age and for the last 2 years been receiving benefits, and was not very confident about his future income.

 

Our Pension Wise Guider was able to explain to John that his occupational pension scheme still had protections which guaranteed him a pension of £7k and helped him undercover a private pension pot valued at £29k! Our guider discussed with John the various options available to him under the new pension freedoms.

 

John was delighted that a mass of jargon had been explained to him in simple terms which he could now understand. John can now look forward to a secure guaranteed income in retirement and the comfort of knowing there would be some support for his wife should he pass away.

 

Arrangements were then made for him to attend his local Citizens Advice office in Liverpool to undertake a full review of his current benefits and to look into claiming his state pension.

 

*At Citizens Advice Liverpool, we provide confidential advice. So while their stories are true, client names and images have been changed.

What is Pension Wise?

Pension Wise is a free and impartial government service about the different ways you can take money from your pension.
 
You can book an appointment – a 45-minute conversation between you and a Pension Wise guidance specialist. You’ll get guidance on:
  • your pension options
  • tax
  • which options might be suitable for you
  • what you can do next
Appointments are over the phone or face to face. At the end, you get a summary of the pension options and possible next steps. To book an appointment you should be 50 years old or over and have a defined contribution pension.
 
Pension Wise guidance specialists are impartial – they don’t recommend any products or companies and won’t tell you how to invest your money.
 
For more information visit the Pension Wise website or phone 0800 138 8292 (or +44 20 3733 3495 if you’re outside the UK) to book an appointment.

 

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