Deciding how to take your pension benefits from the Scheme is a big decision that can involve significant sums of money. Your decision will also affect how you pay for your retirement.
Talking to an independent financial adviser will help you think through the retirement you want and how the pension benefits you have in the Scheme can help you achieve that. Advice isn’t just for the wealthy. It’s more about understanding what you want from your retirement and how to get you there.
If you’re considering transferring your pension to a defined contribution pension arrangement, and your transfer value is greater than £30,000, you are legally required to take independent financial advice and provide the Trustees with your adviser’s details.
You can find out about financial advice and how to find a financial adviser by visiting the MoneyHelper website.
You should make sure your adviser is registered with the Financial Conduct Authority. You should always check whether an independent financial adviser will charge you for any services they offer, and that you agree any fees with them beforehand.