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Derek is in his mid-60s and contacted us as he has difficulties with his vision and had been struggling to read the information in his retirement pack. He began to worry about not being able to make out all of the numbers within the pack and was unsure about what actions he needed to take next.

How we helped

Facing barriers to communication can be extremely stressful.

Derek called in to share his concerns with us. To help put him at ease, our call handler spent time listening to Derek to clearly understand his circumstances and any additional support needs.

We talked Derek through the contents and figures within his pack so that he was aware of what was required of him. In addition, we discussed the option of sending information in an alternative format to best suit his individual needs, such as large print, braille or audio.

We also asked Derek if he wanted to involve a family member or trusted friend as an additional contact or source of support. Our call handler provided Derek with the information he'd need to supply in order to authorise a chosen person to act on his policy. This would enable us to provide information to a trusted individual, over the phone or by post.

As Derek has a financial adviser, we put him in touch so his adviser could provide more reassurance, support him with his decision making, and help him complete a letter of authority.

If you don't have a financial adviser, you can find one in your area by visiting Unbiased.

Alex is in his mid-60s and contacted us when he was looking to retire as he felt overwhelmed by the options available to him and unsure how his pension investments would work in the long term. He didn’t feel confident that he had enough financial knowledge to make the right decisions.

How we helped

When and how you take money from your pension is a big decision. It can also affect how long your pension pot lasts.

Alex shared his concerns with us and we talked through the various resources available to him online. This included our Pension Benefits Guide where he could learn more about the different options available at retirement and their tax treatment – in his own time and at his own pace. 

As well as this, we strongly recommended that he took financial advice so that he could make the best decision based on his circumstances.

We also notified Alex that we were able to book him an appointment with PensionWise – a free and impartial advice service set up by the government with support available online, by phone or face to face.

Vanessa is in her early 50s and was recently diagnosed with a long term illness. As a result, she was deemed medically unable to work and required full time care. She began to worry about her finances and was unsure about what options she had for her pension during this difficult time.

How we helped

Managing your finances during a time of ill-health can be overwhelming.

Vanessa shared her circumstances with us and enquired about taking her pension early to make up for the loss of earnings. We explained that government regulations typically require a plan holder to be aged 55 (57 from 6 April 2028) or older in order to access any benefits from their plan.

We informed Vanessa that, as she had a financial adviser, they'd be able to support her with her finances during this turbulent period of her life, as well as discuss the options available on her policy. This could include the possibility of a serious ill health retirement claim to access her pension pot earlier than planned, based on her personal circumstances.

Vanessa’s adviser could also discuss the benefits of appointing a beneficiary for her pension, should anything happen, leaving her unable to benefit from the money herself. Our call handler showed Vanessa where on our website she could access the form to do this.

If you don't have a financial adviser, you can find one in your area by visiting Unbiased.

Beverly called in distressed to notify us that her husband, David, had passed away suddenly and unexpectedly at age 53. She was very emotional and also overwhelmed at just the idea of organising his finances.  She began to worry about how she would pay for his funeral.

How we helped

This is a very distressing and bewildering time for Beverly.

She shared her circumstances and concerns with us and explained that she needed access to a lump sum payment from her husband’s pension plan to help towards his funeral costs.

Our call handler spent time carefully listening to Beverly to gather key information and help talk and guide her through each step of the process in the simplest way possible. We also offered to call her back, if at any point during the conversation, she became too upset to continue.

As David’s financial adviser was still active on his policy, we offered to make contact on Beverly’s behalf, to notify them of her husband’s death. David’s adviser was able to provide the support and reassurance Beverly needed to help process the claim with the minimum amount of stress to her. If you don't have a financial adviser, you can find one in your local area by visiting Unbiased.

David had completed a death benefit form to allocate his pension benefits to Beverly in the event of his death. As a result, the allocation is binding so we were able to reassure Beverly that upon completion of a successfully submitted claim, we’d be able to pay David’s pension pot as a lump sum to her. Death benefit forms can be found here.

Chris is in his mid-40s and found himself in a difficult financial situation due to the impact of the cost of living crisis. With his financial priorities changing, he was looking to understand what options he had for his pension.

How we helped

The cost of living crisis has impacted us all in different ways and lots of people are facing unexpected challenges. At Phoenix Wealth, we want to help you find the right balance between what you need today, and what you'll need to rely on during retirement.

Chris shared his circumstances with us and asked if we offered the option to reduce or temporarily pause contributions on his pension during this difficult time.

We strongly recommended that Chris took financial advice before making any decisions about changing his policy as it’s important to consider the full picture on pension savings, including the tax impact or the loss of any potential future growth. An adviser could also support with tax and state benefit considerations during this time. We told Chris that he could find details of an adviser in his local area by visiting Unbiased.

In addition, we pointed Chris to our Help and support for financial difficulties webpage where he could read about tips and helpful resources to help manage money and find support during difficult times. We also talked through the importance of reaching out to the support networksavailable before making any decisions.