Help to make sense of your pension options

Help with minding your money
Help with minding your money

Buckingham Citizens Advice Bureau (CAB) is offering a new service to help people make sense of their pension options.

Following pension reforms in April this year, people approaching retirement have greater freedom over how they can use their pension pots.

People will be able to take a lump sum, take out an annuity or a mixture of both.

Pension Wise is a new government service designed to empower people to make the right choices for them.

Citizens Advice is now delivering free and impartial Pension Wise appointments at Buckingham CAB.

The 45-minute appointments will be tailored to the individual, taking into account the value of their pension and their plans for retirement.

A Pension Wise appointment may help you if you are approaching retirement or are 55 or over, have a defined contribution pension and are thinking of accessing your pension in the next six months.

Appointments are also available on the telephone, delivered by the Pensions Advisory Service. And people can get general guidance online at www.pensionwise.gov.uk

Deputy chief officer at Buckingham CAB, Ian Payne, said: “Pensions can be a confusing topic and Pension Wise appointments will help people to make sense of their pension’s choices. Citizens Advice already helps people with retirement issues and will continue to offer this service outside of Pension Wise.

To book a telephone or face-to-face appointment, call 0300 330 1001.