Even if you do not wish to subscribe to our website you may find the following useful when managing your retirement project.
The main Government-funded bodies that may be helpful are:
The above three bodies are being merged into one organisation. This is not expected to occur before October 2018. The above information is therefore subject to change.
The Pensions Tracing Service
It is not unusual during a working career for a person to have many jobs. Employers merge or disappear, and pension providers do the same. The good news is that your pension remains in place. The bad news is that you may have become detached from your pension. To help you trace lost pensions the Government funds The Pensions Tracing Service. If you have gaps in your employment and pension records they may be able to help track down whether you have a pension entitlement you have forgotten about.
The benefits system is very complicated. This website just sets out a simple feel to the main principles as to when benefits may be payable. The situation can be made even more complicated by others living in your household; one of you being over Pension Guarantee Credit Age the other being below it; and whether you are a registered carer. The first word of guidance is that if you are struggling on a low income you should claim all the benefits you think you are entitled to.
These useful websites are run by charities that help people on low incomes and benefits to ensure they get the help they are entitled to.
Spot the signs Caution Ask the experts Mind your money
Spot the signs – Unsolicited phone calls, texts or emails from people claiming they’re from Pension Wise or other government-backed bodies are nearly always scams – if you’re unsure just hang up! Don’t be enticed by time limited offers and snazzy websites. Beware of exotic sounding investments that offer ‘guaranteed returns’ or ask you to invest all your money in one place.
Caution – If you’re thinking of cashing in your pension, investigate the details. Don’t trust an offer because your friend recommended it or it’s being described as an ‘amazing deal’.
Ask the experts – If in doubt, call TPAS for free pensions guidance. Scammers can pose as pension advisers, so check to make sure yours is registered on the Financial Conduct Authority’s (FCA) website. Also check the FCA’s list of known scams. If you think you’ve already been scammed, call Action Fraud. Also contact your pension provider immediately as they may be able to stop a transfer that hasn’t yet taken place.
Mind your money – Scammers will always come up with new ways to trick you. Stay vigilant, seek advice and mind your money.