Standard Life pension advice comes from its own FCA-regulated firm, for people 55 or older, or within 3 months of it, with £50,000 or more in pensions.

There is a Standard Life pension adviser service, but it has entry conditions and charges once your plan is put into action, and Pension Wise gives free guidance instead. Before booking Standard Life's introductory call, you could talk the choices through with an FCA-authorised adviser about Standard Life and any other pensions, free; Standard Life savers book that chat from the form on this page.

Does Standard Life give pension advice itself?

Standard Life's advice page describes "Expert retirement advice provided by Standard Life Financial Advice Services". It adds that the service is provided by Standard Life Financial Advice Services Limited, who are "authorised and regulated by the Financial Conduct Authority, (Ref No 1031181)". The advice is therefore given by a regulated advice company with its own FCA reference number, not by the people who answer pension queries.

Those people are a different team. The retirement FAQs say: "Our pension experts won’t be able to give financial advice but can help you understand all your options at retirement." Ringing the helpline will help you understand the choices without producing a personal recommendation. You can look the firm up by that reference number on the FCA's Financial Services Register.

Who the Standard Life retirement advice is for

Standard Life sets two entry tests. Its advice page says: "If you’re within 3 months of turning 55, or older, and have £50,000 or more saved across all your pensions, our advice could be right for you." The total counts every pension you hold, not only Standard Life ones. The service is also closed to anyone abroad: asked about using it from overseas, the page answers "Unfortunately not – you need to be a UK resident."

The advice is about accessing your pension benefits from 55 onwards. Standard Life lists helping you take money, make tax-efficient choices, combine pensions and end up with a personal retirement plan. If a flexible income suits you, it says it can recommend pension plans from Standard Life. If a guaranteed income for life suits you, it says it advises on annuities from across the annuity market. Those are the firm's own descriptions of its service. The annuity itself is on Standard Life annuity rates.

The process runs in three steps. A 10 minute introductory call comes first, where the adviser explains how advice works and what it costs. A second stage covers your circumstances and plans. In the third, the adviser talks through recommendations and, only if you decide to go ahead, puts the plan into action.

What Standard Life says the advice costs

The adviser explains the cost of the service on the introductory call, and Standard Life's advice FAQs set out when you pay: "There is no charge for an introductory call to help you decide if advice is right for you." The adviser will explain all charges up front before you agree to start, and charges only apply once you have received your retirement plan and it is put into action.

The introductory call is therefore the moment to ask for the figure in pounds. How advice is usually priced is covered on the pension advice cost page. The charges inside a Standard Life plan are a separate matter, set out on Standard Life pension charges.

If you would rather not pay: Pension Wise guidance

Advice is not compulsory for most people. Standard Life says that if you feel confident in how you’d like to use your savings, "you do not need financial advice to go ahead with your plans". For people who want help without a recommendation, it points to Pension Wise, the government-backed guidance service from MoneyHelper.

MoneyHelper says a free appointment "explains the options for taking money from your defined contribution pension" and is impartial and backed by government. Eligibility starts at 50 for a UK-based defined contribution pension, with some exceptions for younger people, and the size of the pot does not matter, so a pot below Standard Life's £50,000 entry level still qualifies. Guidance explains choices; it does not tell you which to take. What an appointment covers is on what Pension Wise is, and other free routes are on free pension help.

Choosing an adviser other than Standard Life's

Standard Life also points beyond its own advisers. It says "It’s up to you whether you choose to take financial advice" and suggests the MoneyHelper adviser directory as a place to look. MoneyHelper's guide points readers to firms regulated by the FCA, and suggests confirming on the FCA register that the adviser is listed and that you hold their genuine details.

The kind of adviser matters. According to MoneyHelper, "Independent financial advisers (IFAs) can search the entire market to recommend a product or service for you", whereas restricted advisers usually advise on one area, or recommend products from a certain number of providers. Ask which an adviser is before you commit. Fees, and whether paying them is worthwhile, are on are pension advisers worth it, and finding one near you is on finding a pension adviser.

One conversation can also set a Standard Life pot beside other pensions, the State Pension and tax. Sending the form on this page takes just a name, age band, phone, email and postcode, and the call itself, from an FCA-authorised adviser, carries no charge. MoneyHelper's warning applies whoever you choose: an unsolicited call, email or text is no reason to take advice, as how pension scams work explains.

Standard Life retirement advice: common queries

Is the Standard Life advice free?

The introductory call is. Charges, which the adviser explains first, apply only once the plan has been delivered and put into action, according to Standard Life.

Can I get Standard Life retirement advice with a smaller pot?

The advice page asks for £50,000 or more across all your pensions. Below that, Pension Wise has no minimum pot size, and another regulated adviser will have its own entry terms.

Does the advice cover pensions held elsewhere?

The £50,000 test counts all your pensions, and "Bring your pensions together into one plan" is among the listed aims. How a particular move would work depends on the plans involved, so the details are best worked through with a professional. Related Standard Life questions are on taking a Standard Life pension early and Standard Life pension funds.

Do I have to take advice before I access my Standard Life pension?

Standard Life's own wording is that you can go ahead without it if you are confident. MoneyHelper notes that "With some financial products, getting financial advice first is mandatory", while for most things it is optional; what counts as pension advice sets out the difference.

Does Standard Life recommend shopping around?

Yes. Its advice pages say: "If you are thinking about accessing your pension savings, it’s important to consider shopping around for the best deal." To weigh Standard Life's offer beside your other pots, an FCA-authorised adviser discusses Standard Life with you at no charge; Standard Life savers arrange that conversation via the form on this page.