Pension Wise 6 month anniversary
Today marks the 6 month anniversary since the launch of the Government guidance service, Pension Wise. The service was developed to help pension savers 50 or older with a defined contribution pension arrangement to have access to independent, impartial guidance about their options under the new freedom and choice legislation, introduced in the 2014 budget. The service is delivered over the phone in pre-booked appointments by ourselves, The Pensions Advisory Service, or through booked face to face appointments in local Citizens Advice Bureaux across the country.
Over the course of the last 6 months, TPAS has delivered Pension Wise telephone appointments, during the working day from 8:30am to 6:30pm. The appointment covers information about all 5 retirement options available to customers and then tailored guidance about their possible next steps depending on their personal circumstances discussed in the call. Other appointments where the customer had other types of pensions, required further information after the appointment or just wanted to discuss a specific question were put through to TPAS’ national helpline, ensuring that everyone accessing the Pension Wise service was able to fulfil their particular needs.
Michelle Cracknell, Chief Executive of TPAS said “The introduction of the Pension Wise service and the freedom and choice reforms has got more people thinking and, more importantly, talking about pensions. Pension Wise offers pension savers the opportunity to understand their retirement options, allowing them to make informed choices about how they access their funds. In a nutshell, Pension Wise has helped to increase awareness and build customer understandings. We have a mission to help more people with their retirement and we will continue to work on delivering the best guidance service over the coming years.”
Daniel, a Pension Wise Guider for TPAS, said “I have really enjoyed working for Pension Wise over the last 6 months, it is so satisfying to know that my job, allows me to help others with a subject matter that many find confusing. The introduction of the service has allowed me to bring my experience from the pensions industry and combine it with talking to customers first hand, finding out how their feel about their own pension position and being able to apply my knowledge to their circumstances, offering comprehensive guidance about their next steps. I find that at the end of each call it is clear that the person you’ve spoken to takes something away from the appointment. I and another colleague have even received a marriage proposal from users of the service, because they were so grateful for the time, information and reassurance Pension Wise offered them.”
To find out more about the Pension Wise service or to book an appointment, please visit the official Pension Wise website.