Pension Wise – a service from MoneyHelper can help if you:

• are aged 50 or over
• have a defined contribution (personal or workplace) pension
• want to make sense of your options

A Defined Contribution pension is a personal or workplace pension based on how much you and possibly your employer paid into your pot. With these pensions you decide how to take your money out.

A Defined Benefit pension, known as ‘final salary’ or ‘career average’ pensions, is based on your salary and how long you’ve worked for your employer. For help with these pensions phone the Pensions Advisory Service on 0300 123 1047 or go to pensionsadvisoryservice.org.uk.