It is recommended that you always get independent financial advice before making any decisions about your pension. 

Please do not ask our staff to advise you. We can provide you with information about your pension and your options, but we are not financial advisers. The fund is not qualified to provide financial advice and not authorised by the FCA to give advice.

Independent financial advisers are authorised to give you advice. They can recommend pension products and investment options that are suitable for you and your particular circumstances.

The MoneyHelper website provides help on how to choose an independent financial adviser.

Choosing a financial adviser

Here are some of the things that you should think about when choosing a financial adviser:

  • the level of experience that the adviser has, particularly in the areas where you think you need help and advice
  • do the typical clients that the adviser looks after have similar needs to yours?
  • do they recommend products from the whole market or are they tied to one or a small number of providers?
  • do you understand what the adviser will charge for their services and can you afford to pay those charges?
  • if you are required to take independent financial advice in relation to a pension transfer, that adviser must be qualified to give specific advice on pension transfers. They must also be registered with the Financial Conduct Authority (FCA). An appointed representative can also give this advice, providing the financial adviser they represent has the appropriate permissions. It is important that you make sure this applies to your chosen adviser before you agree to receive advice from them. See the LGPS Member Freedom and Choice page for more information about when you will need to take advice in relation to a pension transfer.
  • check the FCA’s Financial Services Register to make sure that your chosen adviser is authorised to give you financial advice.

It is important that all pension scheme members remain vigilant about pension scams. Visit the Pension scams page to find out more about scams, how to spot them and how to protect yourself.