Your Options


The pension reforms outlined in the 2014 annual budget mean you have greater access to your private pension savings than ever before. This opens up a wider range of options in terms of how you turn these savings into a retirement income for the next chapter of your life.


Before you make a decision, it’s important to consider all of these options carefully. There’s no one size fits all solution – the best choice for you will depend on a number of factors, including your personal circumstances and priorities. That’s why the UK Government strongly advises that all people approaching retirement seek independent financial advice before making a decision.

Taking your pension pot in cash

Due to the recent government reforms regarding how you access your pension, it may now be possible for you to take your entire pension as a cash sum.

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Phased Retirement

If you’re not ready to make a commitment about what to do with your whole pension fund, phased retirement allows you to convert it in stages.

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Investment Linked Annuities

Where standard annuities usually offer a fixed, unchanging income, an investment-linked annuity can offer better rates depending on the performance of underlying investment funds.

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Fixed Term Annuities

Fixed Term Annuities offer a guaranteed income for a fixed period of time, paying out a maturity sum at the end of the term.

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Lifetime Annuities

A lifetime annuity offers a guaranteed income for the rest of your life, in exchange for giving over your pension savings.

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Drawdown

Find out more about the flexible access you now have to your pension fund.

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