How to apply for a Pension Wise appointment
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In short. If you are 50 or over with a defined contribution pension, book a free 45 to 60 minute Pension Wise appointment online or by phone — bring pension statements and questions about tax-free cash, drawdown, and annuities.
Pension Wise is a free, impartial government service from MoneyHelper that explains your defined contribution pension options at retirement. It provides guidance, not regulated financial advice — you will not be told which product to buy. Appointments are available to anyone aged 50 or over with a UK-based defined contribution pension.
Last reviewed:
·Estimated time: PT7DThe steps
- 01
Check you are eligible for Pension Wise
You must be aged 50 or over and have a defined contribution pension — workplace schemes, personal pensions, or SIPPs. Final salary (defined benefit) pensions are not covered in the same way, though the service can explain how defined benefit income interacts with other pots.
- 02
Gather your pension paperwork
Collect recent statements showing pot values, charges, and retirement age for each pension. Note any guaranteed annuity rates, protected tax-free cash, or employer restrictions. If you have multiple pots, bring details for all of them.
- 03
List your questions in advance
Common topics include how much tax-free cash you can take (usually 25%), whether to take a lump sum or regular income, the difference between drawdown and annuities, and how the State Pension fits in. Writing questions down helps you use the session fully.
- 04
Book online or by phone
Appointments are available by phone or face-to-face at some locations. Book through the Pension Wise website or call the booking line. Sessions last around 45 to 60 minutes and are free regardless of pot size.
- 05
Attend your guidance session
A Pension Wise specialist walks through your options, explains tax implications, and highlights scams to avoid. They will not recommend specific products or providers. You can bring a friend or family member for support.
- 06
Request a summary document
After the appointment you receive a summary of what was discussed. Use this when deciding next steps — whether to take no action yet, contact your pension provider, or seek regulated financial advice for a personal recommendation.
- 07
Seek regulated advice if you need a recommendation
If you want someone to recommend a specific product or manage your money, book an appointment with an FCA-regulated financial adviser. Pension Wise guidance is a useful first step but does not replace personalised advice for complex situations.
Common pitfalls
- Expecting Pension Wise to tell you what to do — it explains options but cannot recommend products; confusing guidance with advice leads to disappointment
- Accessing your pension before age 55 (except in rare cases like terminal illness) triggers a 55% unauthorised payment charge from HMRC plus provider penalties
- Ignoring scam warnings — anyone cold-calling about pension transfers or 'free pension reviews' is likely fraudulent; legitimate Pension Wise will never cold-call you
FAQ
- Is Pension Wise the same as financial advice?
- No. Pension Wise provides impartial guidance on your options. Regulated financial advisers give personalised recommendations and can arrange products — they charge a fee or earn commission.
- Can I use Pension Wise if I am still working?
- Yes. You can book from age 50 even if you are not retiring yet. It helps you plan ahead, though accessing pots before your scheme's normal retirement age may not be possible.
- Do I need Pension Wise before accessing my pension?
- If you have a defined contribution pension and want to access it flexibly, providers must ensure you have taken guidance from Pension Wise or received regulated advice, unless you opt out in writing.