Pensions Guide | Pensions Help Product Information

TheMoveChannel.com | How You Can Get More Information?

You can get more information about stakeholder pensions from a variety of sources, including the following:

FSA ‘decision trees’
These ‘decision trees’ have been designed by the FSA. Decision trees give you information and take you through a series of questions about your circumstances. They are designed to help you make your own decision about whether a stakeholder pension is a good choice for you.

There are decision trees for the employed, the self-employed and people who are not working.

Pensions telephone helpline
This telephone helpline service is run by OPAS – the Pensions Advisory Service. It can give you independent and impartial information about occupational, stakeholder and personal pensions.

Your employer
If your employer offers you access to a stakeholder pension scheme, they should give you information about the scheme they have chosen.

Stakeholder pension scheme providers
You can get information direct from a stakeholder pension scheme provider. Opra keeps a list of the registered stakeholder scheme providers.

State Retirement Pension Forecast
If you want to know how much state Retirement Pension you can expect to get when you retire, you can contact the Retirement Pension Forecasting Team (RPFT) on 0845 3000 168 (text phone 0845 3000 169) and they will fill in an application form for you over the phone.

Or you can write to the RPFT, The Pension Service,Whitley Road, Tyneview Park, Newcastle upon Tyne NE98 1BA for a forecast form (BR19) and a return envelope. You can also get form BR19 from your local social security office (details are in your local phone book).

Once they have received your filled-in application form, we will send you a forecast of how much your state pension is likely to be. This forecast will help you to decide whether you are currently saving enough for your retirement needs, and what more you may need to do.

The forecast is based on our knowledge of your current circumstances, and these could change. So, your forecast will be most accurate if you are near to your retirement age. But it is best not to put off applying for your forecast until you are close to retirement. That way, you will have plenty of time to make additional second pension arrangements if you think the amount of your pension will not be enough.

Financial advisers
If you are still not sure about your pension options and stakeholder pensions, you should think about getting financial advice. But remember, if you see an adviser you may have to pay for their advice.

If you do decide to consult an adviser, make sure you understand, and are happy with, the advice they have given you before you go ahead with their recommendation. The rules for stakeholder pension schemes mean that you must be able to choose whether or not you want to take the advice that the scheme providers offer, if it involves an extra charge. If you decide to pay for the scheme provider’s advice, they must charge you separately and not deduct the money from your pension contributions. Make sure you ask them how much they will charge you before you take their advice. Financial advisers must keep to the rules laid down by the FSA, and they must tell you which organisation regulates their work.