How do I get help?

Before you buy a personal pension or a stakeholder pension, you should think about getting independent financial advice.

You will find financial advisers listed in the Yellow Pages or other local phone books. The Financial Services Authority has a register of authorised firms and can check for you to see whether a particular financial adviser is authorised. Click here for details. But remember, if you see a financial adviser you may have to pay for their advice.

You may also pay for financial advice indirectly when you buy a personal pension from a financial adviser. This is because financial advisers are often paid by commission (on each sale they make) from the company providing the pension.

Financial advisers must tell you how much commission they will make from selling you a personal pension. Make sure you also find out about:

• the charges you might have to pay;
• the level of investment risk; and
• how much of your contributions will go into your personal pension.

Remember, commission and charges will reduce the amount invested for you.

Financial advisers must keep to rules that are laid down by the Financial Services Authority.

You need to decide whether you want to consult a financial adviser. And if you do, make sure you understand, and are happy with, the advice they have given you before you go ahead with their recommendation.

If you are confident that you know enough about pensions, you may prefer to deal directly with a pension company. Buying pensions directly like this cuts out the cost of getting advice and can reduce the charges you pay. However, if you are in any doubt, get further help.