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Who can offer pensions advice?

Firms must be regulated by the Financial Services Authority (FSA), the UK's financial services regulator to advise on financial products such as personal pensions. This means they must follow certain rules and standards when dealing with you.

Meaning of financial advice

When you get professional financial advice, the adviser looks at your individual circumstances and needs and recommends financial products suitable for you.

Personal or stakeholder pensions

A personal pension is one that you take out yourself, for example if you're self-employed or your employer doesn't offer a pension arrangement. They are a type of defined contribution (or money purchase) pension.

Stakeholder pensions have to meet minimum standards laid down by government. Some employers offer them or you can start one yourself.

• Personal pensions on the Money Advice Service Opens new window

• More on stakeholder pensions from the Money Advice Service Opens new window

Information you'll get

Before you buy a personal or stakeholder pension, the financial adviser will usually give you a 'Key features document' that explains important details, like:

• Pensions: getting help - from the Money Advice Service Opens new window

How to check whether a firm is authorised

Check that a firm you're dealing with is regulated by the FSA. Use the FSA’s online register or call the FSA Consumer Helpline on 0845 606 1234. Lines are open 8.00 am to 6.00 pm Monday to Friday.

• Use the FSA online firm check register Opens new window

Finding and using a professional financial adviser

There are several ways you can find a professional financial adviser. You can:

• Search for a financial adviser on unbiased.co.uk Opens new window

• Search for a financial adviser on the Personal Finance Society website Opens new window

The Pensions Advisory Service

The Pensions Advisory Service (TPAS) is an independent, non-profit making organisation that provides free advice about pensions. They provide information and guidance on all pension matters, covering state, workplace, personal and stakeholder schemes. They also help any member of the public who has a problem, complaint or dispute with their workplace or private pension arrangement.

• The Pensions Advisory Service Opens new window

The Pensions Regulator

The Pensions Regulator (TPR) regulates workplace pension schemes in the UK. They ensure that people responsible for providing and managing workplace pensions fulfil their obligations.

• The Pensions Regulator Opens new window

Buying without advice

You can invest in a pension based on 'information only', after shopping around. But it's important to be aware that you have fewer rights to complain if you buy an investment product without taking financial advice. Read the details in the related pages.

• How to shop around for financial products

• Know your financial rights

Advice on workplace pensions

A financial adviser should ask whether your employer offers a workplace pension scheme before suggesting a personal pension. If your employer does offer a scheme it's often a good idea to join, especially if your employer contributes. To find out more you'll need to talk to your HR department. Read 'Understanding company pensions' to find out more.

• Understanding company pensions

More useful links

• Getting help with money decisions - learn more from the Money Advice Service Opens new window

• Report your change of address, bank details or other circumstances to The Pension Service

• Making a complaint about The Pension Service

• Who to contact at The Pension Service

Useful contacts

• Age UK - contact details

• The Pensions Advisory Service (TPAS) - contact details

• Citizens Advice - contact details

• Pensions Ombudsman - contact details