Your pension and retirement savings provide you with a secure income once you retire.
When making any decision that affects your pension we recommend you get some expert guidance and advice.
What is guidance?
Guidance is available to help guide you through your choices and to protect you.
For free guidance, MoneyHelper is a government organisation offering free and impartial pensions guidance. There's lots of information available on their website, from an easy-to-understand pension savings timeline and a pensions calculator, to detailed information on retirement income options. Or you can chat to them on the dedicated Tesco helpline:
0207 630 2716
9am to 5pm, Monday to Friday
Webchat
9am to 6pm, Monday to Friday (excluding bank holidays)
Please note guidance does not:
- Provide you with financial advice or consider your wider financial position, including any other savings you might have
- Give you a specific recommendation
- Cover your options for other pension savings you might have
- Put into action your chosen option - you're responsible for completing and returning the relevant paperwork to get it set up
- Talk through the pension providers available for the different retirement options
What is advice?
You may decide to pay for advice from a pension expert or financial advisor. If you do, we recommend you make sure they are authorised and regulated by the Financial Conduct Authority (FCA).
In some instances - if you’re thinking of transferring out of the Tesco Scheme, for example - UK law says you must have taken advice from a financial adviser who is authorised and regulated by the Financial Conduct Authority (FCA), before you’ll be allowed to transfer out.
Competitively priced financial advice.
To help you make the right decision for you, we’ve reviewed some of the biggest financial advisers and selected one that we believe is suitable to advise on the Scheme. Origen Financial Services have dedicated resources to provide advice, especially if you are considering whether to transfer out.
We’ve also negotiated a competitive rate for our members, which is likely to be cheaper than the cost if you find your own financial adviser. Of course, you’re free to use any other financial adviser in the market if you want to, but you should make sure that they’re authorised and regulated by the FCA. Whichever financial adviser you choose, you’ll need to enter into a separate agreement with them.