Free pensions guidance service to be called Pension Wise

The guidance service to help retirees with their pension options has been named.

The government's free pensions guidance service, which will launch ahead of pension freedom reforms, is to be called Pension wise.

From April, over 300,000 individuals a year with defined contribution pension savings will be able to access their money from the age of 55. Pension wise is designed to help people make the right decision about what to do with that cash.

Guidance will be available online, face-to-face and over the phone, and will be provided by Citizens Advice and the Pensions Advisory Service. Each meeting is expected to last 45 minutes, with a list of defined questions that guiders will cover.

Savers will then be given a summary document of their meeting so that they can make a more informed decision.

There is no set date for the formal launch of Pension wise, but you can register your interest on the Pension wise website now.

In a bid to prevent pensions scams and fraud, the government is making any imitation of the Pension wise brand illegal.

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