Questions to ask a retirement adviser
Ask how the adviser will turn your pensions, other income and spending needs into a plan you can understand. Establish the assumptions, what could change the outcome, which decisions need personal recommendations and the full price of the work.
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Questions that test the plan behind the numbers
| Topic | Ask the adviser | Look for |
|---|---|---|
| Spending | How will you distinguish essential costs from flexible spending? | A budget you recognise |
| Uncertainty | What happens if costs rise or investment returns disappoint? | Clear assumptions and alternative scenarios |
| Pensions | Do you handle the types of pension and benefits I have? | Relevant experience and service limits |
| Later life | When should the plan be reviewed and who will do it? | An agreed handover or review service |
| Fees | What are the initial, implementation and annual charges? | A written total with exclusions |
A forecast is an illustration of assumptions, not a promise about future income or investment performance. Ask for an explanation of the risks and alternatives.
Ask about retirement experience
Ask how income is planned
A retirement plan needs to consider spending, cash reserves, investment risk and how different pensions or accounts work together. Ask how the adviser approaches those trade-offs.
Ask for costs in pounds
Request the initial fee, normal ongoing annual fee and any other platform or investment costs separately.
Ask what happens after the first year
If you are paying for ongoing advice, understand what changes, reviews and decisions the adviser remains responsible for each year.
Ask questions that reveal the assumptions
Start with the income plan: which spending is essential, which can change and which sources are expected to cover each? Ask whether figures are before or after tax and whether future amounts are expressed in today's money. Without those distinctions, two retirement illustrations can appear comparable when they are not.
Ask how State Pension and occupational scheme figures have been established. Your own forecast and scheme quotations are more useful than assuming the maximum entitlement or a standard retirement age. Identify any missing information before relying on the model.
Then ask what could change the conclusion: weaker returns, higher costs, earlier retirement, a longer life or a partner's death. The purpose is to understand the decisions available under uncertainty, not to obtain reassurance that every scenario will work.
Use one practical scenario in the meeting
Describe an irregular cost you might realistically face, such as a home repair or helping family. Ask how the plan would fund it, what tax or investment consequences could arise and whether a review would be needed first. This connects the strategy to life beyond regular monthly spending.
For an illustrative couple retiring in different years, ask how earnings, private pension income and later State Pension overlap. A household total alone can hide different ownership, tax positions and access dates.
Ask which existing pension features must be checked before moving or accessing benefits. If an adviser proposes consolidation or drawdown immediately, request the assessment supporting that choice and the alternatives considered.
Finish with the service questions
Confirm what the fee covers, which other professionals are needed and whether implementation is included. Ask what work continues after retirement, what triggers an extra charge and how the relationship can end.
Request a written action list with an owner and date for each task. Distinguish information to obtain from decisions to make. A useful retirement meeting should leave you knowing what remains uncertain and how it will be resolved, rather than only remembering a projected fund value.
Sources and further reading
MoneyHelper - Find a retirement adviser ↗
GOV.UK: check your State Pension forecast ↗
GOV.UK: tax when you get a pension ↗
