Pension advice for over 50s
In this guide: Why you may need pension advice, what your options are and how to find the best pension drawdown or annuity deal.
Do I need retirement income advice?
Whether or not you should seek retirement income advice usually depends on the type of pension you have and how complicated your requirements may be.
For example, if you have a defined contribution scheme with a guaranteed annuity rate such as a final salary pension, the law insists you take financial advice should you want to transfer out or cash your pension in, to ensure you don’t lose out on valuable benefits.
The same rule applies if you have a defined benefit pension worth over £30,000 and are thinking of transferring to a defined contribution scheme.
Whatever your situation, deciding how best to generate a retirement income from your pension pots takes careful thought, especially as the decisions you make now may remain in place for the rest of your life.
This is one reasons why, after careful consideration, we’ve joined forces with Age Partnership, the award-winning retirement specialists to help you weigh up your pension income options and enter your retirement with confidence.
Try the pension income calculator
Expert pension and annuity advice to suit you
Age Partnership offer two levels of pension income advice, depending on the amount of help you’d like or need.
You’ll be given tailored retirement income advice and recommendations.
All your assets and retirement income needs will be considered as part of a personal financial plan designed around you.
Your financial planner will help you understand all your pension income options such as pension drawdown, annuities or a combination of the two.
You’ll be given straightforward guidance and information to help you make your own decisions.
Your retirement income specialist will explain how different options work and complete all the paperwork for you but won’t offer advice or recommendations on how to proceed.
How Age Partnership can help you
Your Age Partnership retirement specialist can cut through the jargon and give you no-obligation illustrations to help you understand all your options including:
Combinations of the above
You’ll find more information on your pension income options on the government's Pension Wise website.
Get pension advice or guidance from a retirement income specialist
Speak to an Age Partnership retirement income specialist to decide whether advice or guidance is right for you.
They will ask about your current pension arrangements, attitude to risk and your retirement plans before researching leading pension and annuity providers on your behalf.
Age Partnership is so confident of finding you the best deal, they’ll give you £100 should you manage to find a better like-for-like quote elsewhere.
Use our pension income calculator to get started.
Use the pension income calculator to get started