Pension advice and pension schemes that are offered by a financial adviser are regulated by the Financial Services Authority (FSA). The FSA is the UK’s financial services regulator and registered firms are place on the FSA register and are required to meet and maintain certain standards. In order to be assured that the pension advice you receive and that the pension that you invest in is secure, make sure that the firm that you decide to deal with is registered with the FSA.

If they are registered with the FSA then you know that the advice you will get is guaranteed. If you do have a complaint there then are options and avenues that you can follow to make sure that you are not left up the creek with no money.

The FSA provides the overall authority for financial advisors to provide advice on pensions, including personal and stakeholder pension schemes. However the FSA does not have jurisdiction over the employer occupational pension schemes.

Your financial advisor can still assist you if you have questions regarding your employer’s pension plans, so make sure that you do provide all the information on these plans as they can affect how your advisor determines which additional pension option will work best for you.

If you have a complaint about your plan or about the advice that you have received from a registered financial advisor, then it is good to know that there is help and a clear process that can be followed to have the issue looked into and even if there is some compensation option that will help in the long run.

There are the regulators such as the FSA and The Pension Regulators (TPR). The ombudsmen who oversee pensions are the Pensions Ombudsman (PO) and the PPF Ombudsman (PPFO) and the Financial Ombudsman Service (FOS).

The pension and financial protection schemes are the Pension Protection Fund (PPF), the Financial Assistance Scheme (FAS) and the Financial Services Compensation Scheme (FSCS) and the Fraud Compensation Fund (FCF). Also the other government bodies are HM Revenue & Customs (HMRC) and the Pension Service.

But as with everything, especially financial decision, it is best to shop around and do your own homework. Ask friends and family who they have been using and who they trust for financial advice. Nothing spreads faster than bad advice and bad experiences, so look for testimonials from people who are happy with their financial advisor’s advice.