Calculate your pension payments - How much do you need to contribute
to earn your desired pension value.
Pensions Organisations
A variety of Pensions organisations to
assist those with private pensions or occupational (company) pensions.
Some will help you to choose your IFA - others are there for your
pension protection.
Who can help
you with your pension?
First Stop
Occupational Pensioners' Alliance
The OPA is a democratic, non-political organisation of
occupational pensioners' associations in the UK.
If you’re not sure who can help you sort out a problem with
your occupational pension, get in touch with OPAS. They will be able to
give you advice on what to do next.
Pensions
Advisory Service (Opas):
A non-profit organisation which seeks to help any member of the public
who has a problem, complaint or dispute with their occupational or
private pension arrangement.
Telephone: 0845 6012923
Association of British Insurers (ABI):
The trade association for the UK's insurance industry, including pension
providers.
Telephone: 020 7600 3333
Financial Services Authority (FSA):
The City watchdog is the regulator of the UK's insurance and pensions
industry. It is also required by law to improve the level of financial
education in the UK.
Guide to choosing an IFA - is free and
can be obtained by calling the FSA on 0800 917 3311
Financial Ombudsman Service:
The ombudsman helps settle individual disputes between consumers and
financial services companies.
Telephone: 0845 0801800
Pensionguide.gov.uk:
The government's pensions website, which offers information to
individuals about their pension options, and rules.
Pensions Ombudsman:
Investigates and decides complaints and disputes about the way that
pension schemes are run. Complaints about the sales and marketing of
pension schemes are dealt with by the Financial Ombudsman Service.
Telephone: 020 7834 9144
The
Pensions Regulator - formerly OPRA:
The Pensions Regulator is the new regulator of
work-based pension schemes in the UK. Created under the Pensions Act
2004, they have wider powers and a new proactive and risk-focused
approach to regulation. Top priority is to tackle risks to members'
benefits - they focus our resources on identifying and reducing risks,
working with schemes to get them on the right track.
http://www.thepensionsregulator.gov.uk.
General office enquiries 01273 811800
The
Pensions Scheme Registry:
Helps people trace pension schemes they have lost touch with - for
example following a change of job, or when a former employer changes
name. It is run by the Occupational Pensions Regulatory Authority (Opra)
Department for Work and Pensions:
The government department responsible for benefits and services for
older people. Its website has information on availability and rules.
Enquiries about pensions are dealt with by the Pension Service (see
below).
The
Pension Service:
This new government office for state pension entitlements will
eventually offer 26 local advice centres for pensioners. The service
will work out your retirement pension and offer advice on other
pensioner related services.
Inland Revenue:
Oversees taxation of pensioner incomes. Its leaflet IR121
provides information on income tax and pensioners. Its
international services division deals with queries from
people who have spent part of their working life abroad.
Telephone: 0845 6060265
Financial Services
Compensation Scheme (FSCS):
A safety net for customers of financial services firms. It
pays compensation if an authorised firm is unable to pay
claims against it, usually because it has gone out of
business. The scheme is funded by the industry and covers
deposits, insurance and investments.
Telephone: 020 7892 7300
National Association of
Pension Funds produce leaflets on leaving your
job and keeping your pension. Write to:
12-18 Grosvenor Gardens,
London SW1W ODH.
Tel: 0207 730 0585
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Personal Investment Authority (PIA)
For complaints about your pension - Tel: 0207-538-8860.
PIA Investor Helpline for Pensions Review - Tel: 0207-417-7001
PIA Ombudsman,
6th Floor,
1 London Wall,
London EC2Y 5EA.
Tel: 0207-600-3838
THE ANNUITY BUREAU LTD. is an
independent specialist which will advise on where to purchase the best
annuity. They publish a free guide, "You and Your Annuity". They work on
a commission or fee basis.
Tel: 0207 620 4090.
Retirement income specialists
Annuity Direct provide a similar service. They update Ceefax page
260 (BBC2) which lists annuity rates. Tel: 0207 684 5000
General Financial Advice
IFA Promotions will give you
the names of 3 independent financial advisers in your local area, a
general information pack and a coupon for a free half hour of
consultation. They produce free factsheets
- "You and Your Pension",
- "Company Pensions"
- "Planning Your Retirement"
Remember that the adviser will have to
tell you the commission they will earn if they sell you a pension. Tel:
Bristol on 0117 971 1177, leaving your name and postcode. Lines are open
8.30am to 5.30pm.
Money Management magazine has
its own information service which can give the names of up to six fee
based independent financial advisers.
Tel: 01179 769444
You can get specialist pensions advice
from a member of The Society of Pension Consultants. They cannot
give advice but they can send you a list of people in your area who may
be able to help you. Write to:
St Bartholomew House,
92 Fleet Street,
London EC4Y 1DH..
The Association of Consulting
Actuaries,
1 Wardrobe Place,
London EC4V 5AH.
Tel: 0207 248 3163.
Pensions for Divorcees
Fair Shares is a campaigning and support group to help separated and
divorced women and women to get a fair share of an ex-spouses pension.
They have a factsheet detailing legislative framework before and after
the Pensions Act.Send an A4 SAE to:
Flat 2, Homer's House,
Church Street,
Rugby,
Warwickshire,
CV21 3PT.
State Pensions
To find out how much state pension (basic, additional and graduated)
you are likely to receive fill in form BR19 available from the local
Benefits Agency (social security) office or go to their web site
Retirement Pension Forecasting Unit
Benefits Agency,
Newcastle Upon Tyne
NE98 1YZ.
Heath Consulting are employee
benefit consultants who have produced a checklist for potential member
trustees in England.
Tel: 0207 234 4000.
Books and Guides
The Pensions Handbook 1998-99 From Age Concern, is published by ACE
Books and costs £6.99. Available from most bookshops or from Age Concern
England, 1268 London Road, London SW16 4ER. Age Concern also publishes a
fact sheet on what to do about your state pension if you continue
working beyond the official age of retirement.
The Which? Guide to Pensions (1998
updated), published by the Consumers Association. Price £9.99. Available
only through Which? magazine free-phone number 0800 252100.
Pension Power: Understand and Control
Your Most Valuable Financial Asset second edition/Feb 97 £13.99 Debbie
Harrison, published by John Wiley & Sons in Chichester. Enquiries: Tel:
01243 779777. The ISBN no when ordering books is: 0471972517.
Personal Pension Plans Survey
October 1998 issue of Money Management has a survey on personal pension
plans. Back issues are available from Tel: 01444 445520. As well as
comparing plans it also warns that as telephone selling of pensions
increases it MUST be with advice, not execution only.
Your Retirement Costs £5.75 (plus £1
p+p) and is available from the Pre-Retirement Association, which also
runs courses. Tel: 01483 301 170. Address: 9 Chesham Road, Guildford,
GU1 3LS
The Pocket Pensions Guide by Robin
Ellison explains pensions from the basics up, including state, company
and personal pensions. Published by Prentice Hall Europe, £14.99.
The Pension Shop Provides two useful
leaflets on pensions:
- "The 12 most important question
to ask when buying a pension"
- "Get Real ".
Tel: 0115 947 0247.
The Pensions
Management Institute (PMI)
The PMI was formed in 1976 to promote professionalism amongst those
involved with pensions. It is recognised throughout the world of
pensions as the body which establishes, maintains and improves
professional standards in every aspect of pension scheme management and
consultancy
Identity Theft in over 50s