Pillar Guide · Updated July 2026
Pension Wise: A Complete UK Guide for 2026/27
Pension Wise is a free, impartial guidance service backed by the government, run through MoneyHelper, designed to help people aged 50 and over understand their options for accessing a defined contribution pension. This guide explains what the service covers, who can use it, how it differs from regulated financial advice, and how to book a session.
What Pension Wise Is
Pension Wise is a free, impartial guidance service delivered through MoneyHelper (the government's consumer money guidance service) and the Citizens Advice network, created to help people understand the choices available when accessing money from a defined contribution pension, without recommending or selling any specific product or provider.
Who Can Use It
The service is available to anyone aged 50 or over who has a defined contribution pension (including workplace and personal pensions), whether or not they are close to actually taking money out, and there is no charge for using it regardless of the size of the pension pot involved.
What a Session Covers
A Pension Wise appointment explains the main ways to access a defined contribution pension — taking cash lump sums, moving into flexible drawdown, buying an annuity, or a combination of these — along with the tax implications of each option, the effect on any means-tested benefits, and the importance of considering how long retirement income needs to last.
Guidance vs Regulated Financial Advice
Pension Wise provides general guidance about the options available, not a personal recommendation about what the individual should specifically do with their own pension, which is the key difference from regulated financial advice provided by an FCA-authorised adviser. Anyone wanting a specific personal recommendation tailored to their full financial circumstances still needs to see a regulated financial adviser, usually for a fee.
How Sessions Work
Sessions typically last around 45 to 60 minutes and can be booked over the phone or, in some locations, face to face, with an appointment usually available within a matter of days to a few weeks depending on demand. The guidance specialist works through the individual's pension options based on information the person provides but does not have access to their specific pension provider's systems or the exact fund value unless the individual shares it.
The 'Stronger Nudge' Requirement
Since 2022, pension providers have been required to offer to book a Pension Wise appointment for a customer (the 'stronger nudge') when they contact the provider wanting to access or transfer their pension, unless the customer has already received regulated advice or explicitly opts out, reflecting evidence that people who attend a Pension Wise session tend to make better-informed decisions.
Preparing for Your Appointment
It helps to have details of all defined contribution pensions to hand before the appointment, including estimated values and any guaranteed features, along with a rough idea of other income sources expected in retirement such as the State Pension, so the guidance specialist can talk through options in the context of the full picture rather than one pension in isolation.
What Happens After Your Session
Pension Wise does not action anything on the individual's behalf; after the session, the individual decides for themselves what to do next, whether that is contacting their pension provider directly to proceed, seeking regulated financial advice for a personal recommendation, or simply taking more time before making a decision.