Understanding your pension income options
When you retire, your income may come from several different places; your workplace or personal pension, your savings, your investments, and even other assets like property. The challenge is bringing all of these together into a single, sustainable income that supports the lifestyle you want. Without a clear plan, you could risk:
- Running out of money too soon
- Paying more tax than necessary
- Missing out on investment growth
Ways to combine these into one income:
- Pension Drawdown – Keep your pension invested and withdraw an income alongside savings and investments.
- Annuity – Turn part of your pension into a guaranteed income, then use savings/investments for flexibility.
- Blended Approach – Combine drawdown, annuity, and cash reserves to create both security and flexibility.
- Tax Planning – Withdraw from the right source at the right time to minimise tax and make your money last longer.
Why getting advice here matters:
Creating a single retirement income from multiple sources is a balancing act — it’s about maximising income while protecting your capital and managing tax. An FCA-regulated adviser can:
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Review all your pensions, savings, and investments together
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Recommend the most tax-efficient withdrawal strategy
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Help you decide the right mix of guaranteed and flexible income
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Keep your plan on track as markets, rules, and your needs change
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Very professional and friendly advice. Highly recommend this company to anyone who is not clear on what to do with your pension after retirement.
I had been slightly unsure about what to do or who to trust, especially in todays world of 'rip offs' and scams but now I feel more settled after a simple follow up call.
Why Pension Advice Matters
Your pension is one of the most valuable assets you’ll ever own and the decisions you make about it will shape your retirement for decades to come. Getting the right advice isn’t just helpful, it can make a real difference to your income, your tax bill, and your peace of mind.
- Avoid costly mistakes
Without guidance, it’s easy to make choices that can’t be undone like locking into the wrong product, taking money out in a way that triggers unnecessary tax, or giving up valuable benefits. Expert advice helps you avoid these pitfalls. - Advice that’s personal to you
Your goals, your health, your savings, and even where you live can all affect what’s best for you. - Confidence and clarity
When you work with an FCA-regulated adviser, you know they’re required to put your interests first. That means clear explanations, tailored recommendations, and the reassurance that your retirement plan is on the right track.
Those who got advice say:
- 75% of those receiving ongoing advice report an improved quality of life [1]
- Users of financial advice gained, on average, around £47,706 extra in pension savings and other assets over 10 years compared to those who didn’t get advice [2]
- Those just 'getting by' saw a 24% increase to their wealth [3]
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Why use our service?
Making decisions about your pension is important, and getting the right advice can make all the difference. Our service connects you with trusted, FCA-regulated advisers who are ready to help you navigate your pension choices.
- Free and impartial - There’s no charge for using our service — we’ll match you with a qualified adviser at no cost to you.
- Quick and convenient - It takes less than a minute to be matched with an adviser who understands your needs.
- Advisers near you - Our nationwide network means you’ll be connected with someone local, so you can choose how and when to speak.
Our expert adviser network
All of the advisers we work with are FCA-authorised and regulated.
Frequently asked questions
Pensions can be one of the most valuable assets you’ll ever own but also one of the most complex. The right advice helps you make smart, tax-efficient choices, avoid costly mistakes, and create a retirement income that suits your goals.
The cost depends on your needs and the complexity of your situation. Your initial consultation is free, so you can explore your options without any obligation.
Often, yes you can, and this can make managing your retirement income much simpler. However, it’s important to check if you’d be giving up valuable benefits before moving your pensions. An adviser can review this for you.
You could take a tax-free lump sum, use pension drawdown, buy an annuity, or use a combination of these options. The right choice depends on your circumstances, risk appetite, and income needs. An FCA-regulated adviser can talk you through your options to help you make the right decision for you.
[1] Based on a report conducted by St. James's Place Wealth Management Plc in 2024
[2] According to research conducted by Royal London and ILC
[3] According to an article from ILC