CAB offering pension help

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This week marks six months of freedom and choice for pensions and Lisburn and Castlereagh Citizens Advice are encouraging eligible people to seek free guidance to make sure they understand their options.

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

Lisburn and Castlereagh Citzens Advice has helped people understand a range of options about their pensions in the last six months, all depending on their circumstances and wants for retirement.

They have dealt with pension pots ranging from £1000 to £427,000.

George McCartney, Pension Wise Guidance Specialist at Lisburn and Castlereagh Citzens Advice 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 per cent of a pension pot tax-free to how a decision might affect any benefits already received.

“Pensions can be confusing. The Pension Wise service offers people an opportunity to seek gudiance ot understand their options before they make any final decisions.”

He added: “We encourage people to come visit us at Lisburn and Castlereagh Citizens Advice to book a free guidance session and make the most out of pension freedoms.”

To book a Pension Wise appointment, you can visit the Lisburn and Castlereagh Citizens Advice office or call 02892633377.

For further information and to find out how to book telephone appointments you can also visit the Pension Wise website - www.pensionwise.gov.uk or call the national number 0300 330 1001.