What happens when I want to start taking my retirement benefits?
You will be contacted before you start taking your retirement benefits. At this point you will receive information detailing the options that are available to you.
You’ll normally be able to use your plan value to:
- take regular, lump sum or one-off payments, including tax-free cash payments. Only 25% of your plan will be tax-free.
- buy an annuity which will provide you with up to 25% tax-free cash and/or income.
- or, a combination of options.