Pension Wise is a government service from MoneyHelper that offers free, impartial pensions guidance about members’ options for their defined contribution (DC) pension savings.
From 1 June 2022 the Plan is required to offer to arrange Pension Wise appointments for those who apply to transfer flexible benefits or start receiving flexible benefits.
Appointments, which last between 45 and 60 minutes, are open to members aged 50 and over and can currently be conducted by telephone or online.
The new rules mean that the Plan cannot proceed with the application unless the member has received, and notified them of receipt of, the Pension Wise guidance, or the member opts out of receiving the guidance and provides the trustees with an opt-out notification.
You can find out more about Pensions Wise and the service they provide on the MoneyHelper website.