Where can I find pension advice?

Alongside being one of the most crucial financial aspects of life, the world of pensions can be tricky to get your head around.

It’s important not to let potential confusion deter you from taking control of your finances, and thankfully, there is help available should you need it.

The internet can be a wonderful place to find information about every topic imaginable, including pensions, but it’s not always the most reliable of sources.

Provided you know which places to look online and which professionals to trust, you shouldn’t have much trouble getting to grips with your pension. Here are some tips to point you in the right direction.

Why you might want pension advice

Seeking pension advice is completely normal, and many people do it on a regular basis. Some of the more common reasons for seeking advice might include:

• Concerns about underpaying into a pension pot – It can be difficult to know how much to pay into a personal pension if you’ve not done a reliable calculation or you’re on an irregular wage. Thinking about how much money you’ll need in retirement and the trajectory that you’re currently on in relation to that amount is important.
• Investment performance – Investments can be challenging without a little help or some knowledge of your own, often both.
• Misunderstanding needs – If you’ve never thought about pensions before, you might not know how to make the most of the various tax breaks they can offer, let alone how to maximise your savings for the future. Seeking advice in this situation can be a big help in getting you on the right track.
• Any Concerns at all – No matter how big or small you perceive your issue to be, it’s your money, and you worked hard for it, so no matter the question, if you’re feeling stuck, you should reach out.

Where to get pension advice

It’s best to stick to the most trustworthy sources available if you’re reading pension information online, such as MoneyHelper, a diverse government resource that has plenty of information about pensions and various other financial topics.

MoneySavingExpert is another good online source for information about pensions, as it was initially founded by journalists due to a need for non-biased and reliable financial news and advice.

You could always talk to your bank too, but if you’re worried that they’ll try and pressure you into signing up for a pension scheme, your best option could be to go for an independent financial advisor (IFA).

It’s important that you don’t make any big high-risk financial decisions before understanding the pros and cons.

Can I get advice from iSIPP?

At iSIPP, our job is all about helping you to transfer and consolidate your pensions, and giving you the freedom to invest in a way that suits you. We do not give our financial advice, so if you want to receive advice, you need to reach out the government resources like MoneyHelper. However, it is important to know that when you’re working with iSIPP, you don’t need to seek advice if you’re transferring less than £30,000, but the option to reach out to the government resources listed above is there if you feel like you need reassurance.

Conclusion

It’s your money, so you should have control over it. If you need reports, advice, and more so that you can make the best investment decision in the future, turn to the resources highlighted in this guide, and then when you feel ready, we will be here if you need to consolidate your pensions. Be pension-wise sooner rather than later by learning as much as you can from experts like MoneyHelper, and you should have the control you are seeking.

Disclaimer 

The content of this article is for general information purposes only and should not be construed as legal, financial or taxation advice. You should not rely on the information contained in this article as legal, financial or taxation advice. The content of this article is based on information currently available to us, and the current laws in force in the UK. The content does not take account of individual circumstances and may not reflect recent changes in the law since the date it was created. It is essential that detailed financial and tax advice should be sought in both jurisdictions and any legal advice, if required.

This notice cannot disclose all the risks associated with the products we make available to you. When making your own investment decisions it is important you understand that all investments can fall as well as rise in value and it is possible you may get back less than what you have paid in. You should also be satisfied that any investments you choose are suitable for you in the light of your circumstances and financial position. You should seek financial advice if you are not sure of what’s best for your situation.