Where can I get detailed personal advice?

If you need professional help in sorting out your pension arrangements then you can talk to an Independent Financial Adviser (IFA). These are professionally qualified and regulated people who can give you advice on a wide range of financial issues including pensions. However, the advice is not free and you will have to pay for it. This can be done through a direct payment by you, but they cannot be paid by commission for selling private pensions and investments.

If you are a union member, you may be able to get access to financial advice as one of the member services the union provides. Some other membership organisations also provide access to financial advice as part of their benefits package. Otherwise you can contact a local IFA. Find out more about IFAs.

Of course, any bank or building society will be delighted to sell you one of its savings products, but the vast majority are not independent advisers and will only recommend their own products and services, or those of their business partners. They may be quality products that are right for you, but you will always run the risk that they are not.

Bear in mind that most pensions advice comes under the heading of regulated financial advice which can only be provided by authorised advisers. You cannot therefore expect to get detailed pensions advice from your employer or union rep or anyone else other than a registered financial adviser. You can find out more about getting financial advice from the Money Advice Service website.

Note: This content is provided as general background information and should not be taken as legal advice or financial advice for your particular situation. Make sure to get individual advice on your case from your union, a source on our free help page or an independent financial advisor before taking any action.