People's Pension adviser help: the scheme offers tools, guidance and a phone line, says it can't advise on transfers and points to regulated advisers.

If you are looking for a People's Pension adviser to tell you what to do with your pot, its own pages point somewhere else. On a transfer, the scheme says plainly: "We can’t give advice about transferring from another scheme." Whether to move a pension, buy an annuity or draw an income turns on your wider finances, so this page's form can arrange a phone conversation, costing nothing, with an FCA-authorised adviser who sees them together.

When The People's Pension points members to an adviser

The scheme's own pages name three moments when it suggests looking beyond its help:

  • Moving another pension in. For a defined benefit or career average pension the scheme says "It's generally best to not transfer. You should get authorised advice before going ahead." The legal side is in when advice is required before a transfer.
  • Buying an annuity. The scheme says "You might find it helpful to get tailored advice from an independent financial adviser", and notes "Once you’ve set up an annuity, you can’t usually change or cancel it." More on the product is in what a pension annuity is.
  • Taking money early through serious ill health. For someone unsure about how long savings will last or the tax effect, the scheme's ill-health page says "it might be worth getting some independent financial advice".

For members without an adviser, the transfer page names Unbiased and MoneyHelper as places to find one, and says to make sure the adviser is regulated by the Financial Conduct Authority. It also warns: "You may need to pay for advice." What advisers usually charge, and how, is covered in pension advice cost, whether the fee is worth it in are pension advisors worth it, and how to search in how to find a pension adviser.

The ill-health page also warns that scammers often target people taking money early. The warning signs are in pension scams.

What the scheme offers members itself

What the scheme offers directly is information and tools. Its retirement planner is there "to work out how much money you could have and may need in future". Its fund pages carry a note that the document "is provided for the purpose of information only and should not be construed in any way as giving investment advice".

There is a phone number too. The page on setting up a regular income, which members can otherwise do online, says: "If you prefer to speak with someone, call us on 0300 2000 555".

On annuities, the scheme does not sell them. It works instead with Retirement Line, an annuity guidance service, and says "This free service is available to all members from age 55." Your options for taking money are set out in how to withdraw your People's Pension, and the scheme itself is described in People's Pension explained.

For the scheme's own figures, see People's Pension fees and charges and People's Pension funds. How it stacks up against other schemes is in People's Pension compared, and who can join is in People's Pension eligibility.

Which route fits turns on your other pensions, savings and plans, which is what this page's form is for: leave a number for a free phone chat in which those get weighed up by an FCA-authorised adviser.

Pension Wise: free guidance, not advice

Guidance explains what exists. Advice looks at your circumstances and recommends something. Pension Wise comes from MoneyHelper, which says that "A free Pension Wise appointment explains the options for taking money from your defined contribution pension. It’s impartial and backed by government." It also spells out its own limit: "We cannot recommend specific products or provide advice on what’s best for you to do." When you want a recommendation, you need an adviser who is authorised to give one.

To qualify you need a UK-based defined contribution pension and to be 50 or over, though some under-50s can get an appointment too, for example after inheriting a pension or retiring early because of poor health. MoneyHelper also says "It doesn’t matter how much your pension is worth."

The People's Pension itself tells annuity buyers they could talk to Pension Wise. What an appointment involves and how long it takes is in what is Pension Wise and how long a Pension Wise appointment lasts. Other free routes are collected in free pension advice.

People's Pension adviser questions

Is there a People's Pension adviser line or adviser centre?

The number the scheme gives on its regular-income page is 0300 2000 555, for members who would rather set up an income by phone than online. For a recommendation on your own choices, its pages point to regulated advisers found through Unbiased or MoneyHelper.

Can an adviser's fee come out of my People's Pension pot?

That is one for The People's Pension itself, so check with the scheme before you agree a fee with an adviser. The usual ways advisers set their charges are described in pension advice cost.

Is Pension Wise the same as advice?

No. Pension Wise is free and impartial, but it says it cannot recommend products or provide advice on what is best for you to do.

Is Retirement Line a People's Pension adviser?

The scheme describes Retirement Line as a trusted annuity guidance service it works with, which can help you understand your choices and compare rates across the market. It is free for members from age 55.

Does The People's Pension offer any free guidance?

It points members to Retirement Line for annuities and to Pension Wise, both free. Would you sooner talk these choices over with a person? On this page's form you can leave a number and receive a call, free of any fee, from an FCA-authorised adviser.