The Project 

Pension Wise provides free and impartial guidance to help people understand options for taking their pension pot money. The service provides appointments throughout the week with one of our excellent Pension Wise specialists or advisors, dealing with an average of 10 queries a week. We have also held group workshops throughout the community.

We help people understand different avenues to consider, including plans to continue working, personal and financial circumstances and tax implications. We are not a cookie mould service, instead empowering people to make their own informed decision - doing what works best for them. With on-going advice, clients are supported through the process, never feeling uncertain of what to do next or afraid to seek help.

David's Story
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Clients names have been changed to protect their identity.

David was thinking of retiring soon and leaving work but was confused about the information that he had received from his pension provider.  He was worried about how he would be able to afford to live and how to manage his finances.  As he was passing by the Citizens Advice Bureau, he saw a poster on the window about the Pension Wise service that was available within; where he would be able to discuss his pension and retirement options.

The client was given an appointment with the Pension Wise Guidance Specialist and together they made an assessment of David’s circumstances and what he would like to do in retirement.  David was feeling increasing unwell and had some health issues confirmed by his doctor and needed to decide on how he could provide himself with enough income to be able to retire from work and also to keep up with all his household expenses.  The option details that his pension provider had provided was fully explained to him and also other options that he could consider by shopping around and comparing with other companies. 

David was able to understand which options would provide him with enough money to live on and that he might also receive a higher amount due to his ill-health.   Information on all the other things he needed to consider in his retirement including working out his new income, checking for benefit entitlements, looking for lost pensions and how to be careful about scams was also discussed and he was able to make an informed decision about his retirement and able to work out how to keep on top of all his finances