Brentwood - London

Section A

Pension Wise - guidance service

From April 2015, the Government is allowing individuals with defined contribution (DC) pension savings greater flexibility at retirement which means that those people will have more options to consider when they retire. A new Government service called Pension Wise has been established to help you understand your options in relation to what you may do with your AVCs or other defined contribution plans.

If you have AVCs in the Scheme and provided you are age 50 or over you will have access to the Pension Wise service. Pension Wise offers you:

  • tailored guidance (online, over the telephone or face to face) to explain what options you have and help you think about how to make the best use of your DC pension savings;
  • information about the tax implications of different options and other important things you should think about; and
  • tips on getting the best deal, including how to shop around

You can access this free, impartial guidance from the government:

  • Online by going to; or
  • Over the phone with the Pensions Advisory Service by calling 030 0330 1001 to book an appointment; or
  • Face to face at branches of the Citizens Advice services. Again, call 030 0330 1001 to book an appointment.

Also see the Pension Wise website which includes a summary of the information you should get ready before an appointment to make it as useful as possible.

The Pension Wise service is not available to members with only defined benefit (DB) pension benefits.

We strongly recommend you access this pensions guidance and also consider taking independent financial advice to help you decide which option is most suitable for you with regards to your AVCs.