We regulate firms and individuals that promote, arrange or provide stakeholder pension and personal pension schemes. These are pension schemes anyone can join, regardless of any arrangements their employer may offer.
If you’re employed, you may automatically be enrolled on your workplace’s defined contribution pension scheme, or have a defined benefit pension with your employer. Alternatively, you may have a personal defined contribution pension.
The Pensions Regulator is the UK regulator of work-based pension schemes, giving guidance to trustees, employers, pension specialists and business advisers on what is expected of them.
When it comes to retirement, there are a number of different pension products and options available to you, so it is important that you shop around to find the pension that best suits your needs.
Following government proposals, from 6 April 2015 you can access and use your defined contribution pension however you want to, after the age of 55.
Because there are a number of options available to you, it is important you take the time to make a careful decision.
Pension Wise is the government’s free and impartial service that helps you understand your new pension options.
The Money Advice Service also provides helpful information on types of retirement income.
Pension Wise has information on how to complain about a phone or face-to-face appointment. If you are not happy with the response from Pension Wise you can complain to the Parliamentary and Health Ombudsman.
You should be very wary if you are approached out of the blue about:
Telephone: 0800 111 6768
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Deals with work-based pension schemes and related complaints
Provides information and tools to help you manage your money
Helps settle consumer complaints with financial services firms
Covers customers of authorised financial services firms
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