Approaching retirement


Retirement – what to think about and when

Retirement is a long term plan. A bit of forward thinking, regular reviews – and taking action when you need to – could help you keep your retirement plans on track.


Budgeting for retirement

A big part of planning for retirement is making sure you can afford the lifestyle you want.


Reducing your retirement risk

As you approach retirement, you may want to think about preparing your pension savings for retirement.


Increasing your retirement income

Who wouldn’t like a little more income when they retire? Find out about the options that may be available to help boost your pension.


Tax in retirement

Ready to access your pension savings? Let’s make sure you don’t end up paying more tax than you need to.


Let’s compare your pension options

There’s a lot to consider when you're looking at your options.


Flexible income

Flexible income, or drawdown, gives you the freedom to choose your own level of income and the flexibility to suit your personal needs.


Guaranteed income

This is a guaranteed income (sometimes known as an annuity) that's paid for life. It’s easy to set up with no fuss after that.


Take cash from your pension

The first 25% you take as cash is normally tax free, you'll pay income tax on the rest.


Why leave it for now?

You don’t have to take money out of your pension straight away. You could benefit from leaving your money where it is. However, your money remains invested and charges are still deducted. You could get back less than you leave in.


Pension flexibility

Everyone has control over how they take money from their pension.

There’s a minimum age after which you can withdraw money, but pensions are now one of the most tax-efficient and flexible ways to save for the future.

Protect against pension scams

The Pension Regulator (TPR) and the Financial Conduct Authority (FCA) have provided information to help people protect themselves from pension scammers.