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Taking your retirement benefits

You can normally start taking your retirement benefits any time after age 55. Here you'll find the flexible options you can choose from.

Taking your retirement benefits diagram

Take a guaranteed income

Take up to 25% of your plan as a tax-free cash sum. The rest can be used to provide you with a guaranteed income for life by buying an annuity. Find out more

Enjoy flexible access to your savings

If you want more flexibility, you can move to another type of plan that allows you to take the regular income you want, when you need it. Find out more

Take your savings as a cash lump sum(s)

Take some or all of your plan as a cash lump sum – 25% of each lump sum will be tax-free. The rest will be subject to tax. Find out more

Leave your savings invested to help them grow

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 what you put in.


Keep us up-to-date

Keep us up-to-date with any changes that could affect your retirement plans.

If you decide to change your retirement age, let us know. If you're invested in a Lifestyle Strategy, we'll make sure your money is invested in the right part of the strategy.

Did you know?

If you die before you take any or all of your retirement benefits, your savings could be paid to one or more beneficiaries of your choice. You can add beneficiaries to your plan by completing a nomination of beneficiary form.

Know your limits

The Government has set limits to do with pension contributions and taking your retirement benefits.

Find out more

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