We’re sorry, but some customers are experiencing intermittent issues with our Online Account (for members). We’re working hard to fix this as quickly as we can.
Your guidance and advice options
Choosing what to do with your pension savings at retirement is a big decision and it’s often possible to get more for your money by shopping around. You may need some help – either guidance or professional advice.
Explore your retirement options
1. Do your homework
Get together all the facts about your pension savings.
Make sure you have a good idea of how much you have in your pot(s) – check your pot with us in your Online Account »
Explore all of the different ways you can take your pension savings – learn about how you can take your pension money with The People’s Pension »
If you have Lump Sum Retirement Benefit with B&CE, you’ll get a tax-free lump sum payment when you’re 65.
2. Get free guidance
As well as doing your own research, it’s important to get guidance about the different options you could choose.
Guidance explains the basics about retirement and sets out your options. But it won’t recommend what’s best for you.
Guidance is free. And it comes in different forms – a reliable website, a leaflet, or a chat with someone face-to-face or on the phone.
How to get guidance
Contact MoneyHelper – a free and impartial government service.
3. Consider getting advice
Maybe you’ve done your research but you still have some unanswered questions. A financial adviser could help.
Advice can give you a detailed recommendation about the best option to suit your individual circumstances.
There’s normally a fee for financial advice like this, but how much you’re charged will depend on where you go to get advice…
How to get advice
Talk to your financial adviser – and/or find a financial adviser specialising in retirement planning at Unbiased or MoneyHelper.
Be aware of what type of advice you’re getting – is it ‘restricted‘ or ‘independent‘? Learn more from MoneyHelper.
4. Make sure you understand the tax implications
When deciding which option is best for you, you’ll need to think about the tax implications of each option.
You might want to get expert financial advice to help you understand how much tax you’ll pay.
You can learn more about tax and getting advice on the MoneyHelper website.