Make getting to grips with your pension a New Year’s resolution

Says Citizens Advice Mid North Yorkshire.

This January, Citizens Advice Mid North Yorkshire’s is urging people to make getting to grips with their retirement options one of their New Year’s resolutions.

Citizens Advice has been providing the government’s Pension Wise service since 2015. It offers people over the age of 50 with a defined contribution pension a free 45 minute guidance session on options around their retirement finances.

Amongst the holiday festivities, Tom Adamski and his team had another reason to celebrate when Citizens Advice hit 100,000 Pension Wise appointments across England and Wales. In nearly three years of helping people, Citizens Advice Mid North Yorkshire has seen first-hand how learning about your pension is an essential part of managing your money.

December is tough on the wallet, so many of us start the new year with good intentions around budgeting and planning for the future, learning about your pension options is the perfect place to start.

We’re living for longer, so what you do with your pension is more important than ever. You should know what money you’ll need in retirement, and how to make the most of what you have. Pension Wise will help you do this”.

says Tom Adamski.

A recent Ipsos Mori evaluation showed the positive impact a Pension Wise appointment can have:

● People are more aware of their retirement options after a Pension Wise appointment. 93% of people surveyed felt informed of their pension options after an appointment compared to 56% of people who didn’t use the service.
● People feel more scam aware after an appointment. 94% of people who had an appointment felt more aware of the warning signs of scams.
● People make positive decisions following an appointment. 72% of customers calculated the income they needed in retirement after their appointment, compared to 29% of non-users.

Since the introduction of new freedoms in 2015, people have had more choice in what they do with their pension money. This has led to a huge shift in how people approach their pension, with nearly £10 billion more taken out of pensions in 2016/17 than in 2012/13.

And according to Pension Wise the less you know about your pension money, the more likely it is that you might not make the best choice.

Taking money out of your pension could be the best option for you, but you need to know the consequences this could have, it could mean you have less money to rely on in retirement or leave you open to scam investments.

Citizens Advice has now delivered over 100,000 Pension Wise appointments and we’re really proud of helping so many people, but we know that even more people have made a decision on their pension without getting proper guidance.

In 2018, we want to make getting guidance the norm. So start your new year by going to and booking your free Pension Wise appointment.”

For more information or to book your free appointment at Citizens Advice contact our Pension Wise Team on 0800 1383944 or visit


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