I have heard there are changes to pension rules coming in soon that may effect my retirement income?

I have heard that there are changes to pension rules in soon that may effect my retirement income. I'm already worried I won't have enough to live on and don't know what to do. Can you help?

Changes to the pension rules from the 6th April 2006 may affect what you'll get from your pension. If you're contracted out of the State Second Pension (once known as SERPS), you should review your decision now.If you're planning to retire before the 6th April 2006 you should find out how the pension changes could affect you and whether you might more choice if you delay your retirement.

For more detailed information on these and how they might affect you go to www.fsa.gov.uk/pensions

An independant report published by financial watchdog the Financial Services Authority (FSA) recently says that in purely financial terms, most people who contract out or stay contracted-out this year are likely to get a lower pension than if they were in the State Second Pension.

You can get a State Pension forecast from the Department of Works and Pensions. Request a forecast by phoning the State Pension forecasting Team on 0845 3000168 or on line at http://www.pensionservice.gov.uk/

If you've lost track of any old pension schemes you belonged to, contact the the Pension Tracing Service who will help you trace them. Phone  0845 6002 537 (Textphone 0845 3000 169) for an application form or apply online at http://www.pensionservice.gov.uk/

If you need more advice you can consult your local CAB - visit the hereforadvice website Directory.

Produced and provided by Herefordshire CABx and Citizens Advice.