Your retirement options
Pension freedom. Endless possibilities.
If you're left scratching your head at the thought of sorting out your financial future, you're probably not alone.
So if you're feeling a little perplexed about your pension, let us help you understand your options.
- Take a guaranteed income
You can use your retirement savings to buy an annuity. This will pay you a regular income at an agreed rate for the rest of your life. You can also take up to 25% of your total retirement savings as a one-off tax-free cash sum.
- Enjoy flexible access to your savings
Our income drawdown feature - Income Release - will let you dip into your savings and take what you need, whenever you like. You can still take up to 25% of your total retirement savings tax free. Either in one go or spread out to suit you.
- Have it all paid as cash
You can take all of your retirement savings in one go or in a series of chunks. The first 25% of each lump sum will be paid tax free.
- Leave it for now
Don't worry if you can't decide how to take your retirement benefits. You can leave them invested so they have more time to grow. You should remember that investment returns are never guaranteed so you could get back less than you put in.