What is Pension Wise? Questions to ask at Pension Wise

At the GG

Whether you're weighing up your pension income options, or you haven't got that far, here's how to get the best from your session with a Pension Wise counsellor or an independent financial adviser. This guide outlines what you need to prepare and think about beforehand. And there are downloadable checklists of tailored questions to ask once you’re there.

What to bring, and where to get it

  • Your workplace pension statement(s) (final salary or money purchase) You should receive this statement from your employer every year. Contact your pension administrator at work if you can’t find your latest statement. You might also have statements from previous workplace pensions.
  • Your personal pension statement(s) You should receive this from your pension company each year. Contact your pension company if you can’t find your latest statement(s). You might have statements from more than one personal pension.
  • A state pension statement (if you’ve got one) Get a pension statement estimating the state pension you’ll get when you reach state pension age.
  • A summary of your regular bills and spending Try to note down your regular bills and payments you'll still need to meet in retirement.

What to ask at your Pension Wise session

This list of questions will give you some things to think about before your session in order to get the most out of your time with the adviser, eg 'how much debt do I have' or 'will I need a cash lump sum'. We also suggest some questions about tax, the state pension and financial advice.

Choose which questions are relevant to you - you could print them to take with you, or use them as a prompt during a phone call. You can book a session on 0800 138 3944.

Checklist: general pension questions

Download our general pension questions  checklist in an easy-to-print format.

General questions

Checklist: income drawdown, annuities and taking a lump sum

This second list of questions covers specific points about converting your defined contribution (DC) pension into a number of options. For example: 'How does income drawdown work?', 'Is it worth shopping around for an annuity?' and 'What tax will I pay on my pension?'.

Choose which questions are relevant to you - you could print them to take with you, or use them as a prompt during a phone call.

Download our  pension options questions checklist in an easy-to-print format, to take with you or to act as a prompt.

Pension options

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Last updated:

May 2016

Updated by:

Paul Davies


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