If you’re in a position to start taking your pension benefits, and you have received your retirement quotation from the Plan, it’s strongly recommended that you take advantage of the financial advice provided by WPS Advisory (WPSA).

The Trustee has appointed an independent financial advisor, WPSA, to help you understand your options. If you decide to use WPSA, they will provide you with one complete round of expert, impartial advice about the different ways you could receive your Plan benefits and what might be best for you. The Trustee will pay for you to receive this initial advice once for all your benefits in the Plan at retirement – there will be no cost to you.

We recommend that you start the process with WPSA as quickly as you can from when you receive your retirement and transfer pack. To register with WPSA, you’ll need to contact their helpline on 0808 145 3470. Below is a diagram showing the process of receiving financial advice from WPSA.

You can of course source your own financial adviser using the Financial Conduct Authority (FCA) register. Visit the FCA register to find a regulated adviser in your area: https://register.fca.org.uk/. However any advice received with another adviser other then WPSA will need to be paid for by yourself.

If you have a DC pension, or have built up AVCs within your DB arrangement and would like some guidance on how to take these at retirement, it is recommended that you contact MoneyHelper and arrange a free ‘Pension Wise’ appointment. A Pension Wise adviser will talk you through your options to help you make the right decision. To book your free appointment, visit the Pension Wise section of the MoneyHelper website: https://www.moneyhelper.org.uk/en/pensions-and-retirement/pension-wise