Pension Wise is a service offering free guidance to those at or near retirement. It’s designed to help you understand your options for taking an income from your pension. These options are now wider than ever before, bringing more freedom of choice – but also the greater risk of unwise choices.
Decisions made at retirement will affect the rest of your life, and may also have an impact on how much you could leave to your loved ones. So how can you make every effort to ensure that your decision is best for you?
Is it advice or just guidance?
In casual speech, ‘advice’ and ‘guidance’ may be used to mean the same thing. This could be why research indicated that 22% of UK consumers thought the government would be offering free advice1. But in the language of financial planning, there are major differences between the two, as shown here.