Exeter CAB offers pensions guidance

Yesterday marked six months of freedom and choice for pensions and Exeter Citizens Advice Bureau is encouraging eligible people in Exeter to seek free guidance to make sure they understand their options.

The new pension freedoms, introduced in April, mean people over 55 who have a defined contribution pension now have the option to take their pension savings as an annuity, cash or flexibly over time.

Alongside these changes the government launched Pension Wise, a free, impartial service to help people approaching retirement understand their options so they can make informed decisions about their pension pot.

Face to face Pension Wise appointments are available at Exeter CAB and other local Citizens Advice Bureau, and since the service’s launch six months ago, has been helping people understand the range of options now available.

Steve Barriball, Chief Executive of Exeter Citizens Advice Bureau said: “Pension Wise helps people make sense of their pension options.

“In the last six months, we have had a range of different questions about the new freedoms: from cashing in 25% of a pension pot tax-free to how a decision might affect any benefits someone already receives.

“Pensions can be confusing.  Pension Wise offers people an opportunity to seek guidance to understand their options before they make any final decisions. We encourage people to come visit us at Exeter Citizens Advice Bureau to book a free guidance session.”

Pension Wise appointments can be made in person at the Bureau offices on Dix’s Field in Exeter, or by calling 0300 330 1001.