When it comes to your pension, planning ahead is one of the smartest decisions you can make. Pension Wise is an impartial service from MoneyHelper (who are backed by the government), offering free appointments with a pension specialist to anyone over 50, to help guide you through your retirement planning journey.
Many people think of Pension Wise as a tool to use when they’re ready to take their pension but, at that point, it may be too late to make any changes to help you get the pension you want in retirement. The sooner you start engaging with your pension options the better equipped you’ll be to make informed decisions about your future.
By exploring your options once you reach 50, you can:
- Understand when and how you can access your pension
- Learn about the different ways you can maximise your savings
- Avoid common pitfalls that can arise from last minute decisions.
As you get closer to retirement, it becomes more important than ever to keep an eye on how your Pension Account is growing. If you’re over 50, now is the time to start thinking about what you might want to do when you stop working.
What can Pension Wise do for you?
Pension Wise is designed specifically for those aged 50 or over with a UK-based defined contribution pension (like your SEI Master Trust Pension Account). It can provide you with free, impartial guidance on:
- The options for taking your benefits
- The tax you might pay
- How to spot and avoid pension scams.
You can access this information on their website or book a free appointment with one of their pension specialists to explain this to you. Appointments usually last around 60 minutes, are tailored to suit your needs and are available online, on the phone, or face-to-face.
It doesn’t matter what size your Pension Account is. If you’ve inherited a pension or are taking your pension early due to ill-health, you can also have an appointment.
Learn more and book your free appointment here
If you’re under 50, Pension Wise usually won’t offer appointments but can still help. Call them free on 0800 011 3797 or use their webchat. One of their pension specialists will be happy to help.
Opening times: Monday to Friday: 9am to 5pm (helpline and webchat). Closed on bank holidays.
You can also visit MoneyHelper for other resources and information about your pension.