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)
Telephone: 01273 627600
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
|
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
The Income Drawdown Advisory Bureau is an independant specialist which
will advise on income drawdown, as well as phased retirement and annuities.They
work on a fee basis, for those with a fund of at least £250,000. They publish a
free booklet "Income Drawdown and Phased Retirement".
Tel: 0207 401 2040.
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 Pension Calculator".
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
The Investment
Management Regulatory Organisation (IMRO)
IMRO's Mission is 'To protect investors by setting and
promoting standards of integrity, competence and solvency for those IMRO
regulates and to monitor and enforce those standards effectively and
efficiently.
'25 The North Colonnade, Canary Wharf, London, E14 5HS
Tel: 020 7676 1000 Fax:020 7676 1099
Money
Channel - Pension bits
