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Free Pension Guidance NOT The Same As Advice

Independent Financial AdviceWith the biggest shakeup to pensions in a generation having commenced from 6 April, thousands of people will understandably be struggling to make sense of how they can benefit. In response the Government has launched a free pension guidance service although if you require more in depth personalised advice you will need to look elsewhere.

Stuart Read of Sabre Financial comments : ‘Pension Wise will be an information service offering generic detail about the options available to people approaching retirement with options to receive guidance online, on the phone or face to face. It will be a useful starting point for understanding the choices you face utilising your pension and might be all you require to make an informed and very important decision especially if you have a small pot.

However this service will not include specific recommendations to your circumstances and therefore If you require this service you will need to speak to a qualified financial adviser, which will involve a more in-depth, thorough assessment of your individual financial situation and aspirations – where you will be provided with personalised recommendations.

In contrast to the above, financial journalists and estate agents tend to offer generic advice which takes no account of your personal circumstances and your objectives. In addition their advice will often not cover the full range of implications involved in a transaction including tax or any investment drawbacks such as the pitfalls of the buy to let sector.

Speaking to a Financial Adviser could be necessary for your situation as the choices you make with your pension fund will go a long way towards determining your quality of life in retirement and, with it, the rest of your life’.

If you would like to learn more about any of the points raised in this article, please contact Shaun Bell or Stuart Read at Sabre Financial on 01548-856444 or via email at shaun@sabrefinancial.co.uk or stuart@sabrefinancial.co.uk .

Sabre Financial is a trading title of Sabre Financial Planning Ltd. Sabre Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority. 

 

 

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