We strongly encourage members to consider getting guidance from Pension Wise before taking money from their pension savings or transferring their pension.
What is Pension Wise?
Pension Wise is a free and impartial guidance service from MoneyHelper for anyone aged 50 or over. It explains the options available when accessing your pension savings, taking money from your pension, tor planning retirement.
You can find out more by visiting the Pension Wise website.
Why do I need Pension Wise guidance?
When you contact us about:
taking money from your Smart Pension savings
transferring your pension savings to another pension provider
Government regulations require us to direct you to Pension Wise for guidance.
Who should use Pension Wise?
We’re required to encourage you to use Pension Wise if you are:
aged 50 or over
at your protected retirement age
retiring before age 50 due to ill health
Your Pension Wise options
Before we can continue with your retirement claim or pension transfer request, you’ll need to confirm one of the following:
you’ve received Pension Wise guidance, and provide the date of your appointment
you’d like us to arrange the appointment for you
you’ve chosen to opt out of Pension Wise guidance
Book your own Pension Wise appointment
You can book an appointment directly through the Pension Wise website.
Alternatively, you can call Pension Wise on 0800 100 166.
Booking directly is usually the quickest and easiest option, as you can choose a date and time that suits you.
Ask Smart Pension to book your appointment
If you’d like us to arrange your Pension Wise appointment for you, call us on 0333 666 2626.
Opting out of Pension Wise guidance
If you decide not to receive Pension Wise guidance, you’ll need to notify us separately. You can do this online.
You will not need to opt out separately if:
you’ve received regulated financial advice about this claim within the last 12 months
you’ve already received Pension Wise guidance within the last 12 months
you intend to take your benefits as a serious ill-health lump sum
Good to know
This information is for guidance purposes only and is not financial advice. If you need financial advice you can locate a regulated financial adviser on the MoneyHelper website. Where we provide links to third-party websites we are not responsible for their content, so it's important for you to carry out your own independent research. Find an adviser.