People urged to plan for the future on Pension Awareness Day

Citizens Advice Hartlepool manager Joe Michna.
Citizens Advice Hartlepool manager Joe Michna.

Today is Pension Awareness Day and an advice charity is urging people in the Hartlepool area to take advantage of free retirement planning advice.

The Citizens’ Advice Bureau (CAB) in Park Road offers face-to-face appointments as part of the Government’s Pension Wise service.

Research by CAB shows that more than one in four people do not understand their pension plan, do not check it regularly, or know how much is in their pension pot.

Citizens Advice Hartlepool manager Joe Michna said: “Pension Awareness Day is a great reminder that it’s never too early to start thinking about your retirement finances.

“Many people don’t engage with their pension until it’s time to make a decision about their retirement.

“While retiring from work may seem far away, we’re encouraging people to start making plans for their retirement savings.

“The pension freedoms mean there are more options than ever before, and our Pension Wise team can help get you on the right track to a financially secure retirement.

“Pension options can be complicated and deciding on which is the best option needs careful consideration, as there are issues such as tax to take into account, as well as entitlements to social security benefits such as State Retirement Pension and Pension Credit.

“From a personal and financial perspective, there is nothing more important than sorting out your pension arrangements well before retirement age.”

To book a pension advice appointment either call into the CAB office in Park Road, or telephone 01429 408401.