How do I get help?

If you are not sure what to do for the best, you may want to get further advice from a financial adviser. But remember, if you see an adviser you may have to pay for their advice.

You will find financial advisers listed in the Yellow Pages or other local phone books. The Financial Services Authority (FSA) has a register of authorised financial advisers, so you can check that the adviser you want to use is authorised. See the directory for details.

You may also pay for financial advice indirectly when you buy a personal pension from a financial adviser. They must tell you how much commission they will make from selling you a personal pension. Make sure you also find out about:

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

Remember, the adviser’s commission and charges will be deducted from your contributions and so will reduce the amount invested for you.

The rules for stakeholder pensions mean that the advice they offer must be optional if they charge extra for it. If you decide to pay for advice from the stakeholder pension provider, they must:

• charge you separately; and
• not deduct the money from your pension contributions.

Make sure you know how much the scheme provider is going to charge you before you ask for advice.

You need to decide whether you want to consult an 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 decide to talk to a financial adviser, they will help you get the best advice if you have already thought about:

• what your working pattern will be;
• how much you can afford to pay in; and
• what sort of investments you feel comfortable with.

Remember, if you choose to see an adviser, you may have to pay for their advice.

If you are confident that you know enough about pensions, you may prefer to deal with the pension scheme providers directly. If you buy your pension in this way, you should always ask for details of fees or commission. There is an increased risk that you may end up buying a pension that does not suit your needs. If you are in any doubt, get help.