Find out how to access your pension savings as you approach retirement. Click below to learn more about each option.
Start Exploring Your Retirement Options
Making the Right Choices for Your Retirement
There’s no one-size-fits-all answer when it comes to taking your pension. Everyone’s retirement journey is different, and your financial needs, goals, and lifestyle will shape the best route for you.
This section outlines the main ways you can access your pension savings. Whether you're looking for flexibility, security, growth, or simplicity — understanding each option will help you make informed, confident decisions. You don’t have to figure it all out alone.
Not sure where to begin? You’re not the only one.
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What if I choose the wrong pension option?
It’s a big decision, and there’s no going back on some choices. You’re right to want clarity and guidance — we’ll help you weigh up the pros and cons of each option.
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Will I run out of money in retirement?
That’s a common fear. We’ll explore your needs, expected income, and what your pension can deliver to make sure your money works as hard as you did.
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What if I want flexibility but also peace of mind?
You might not need to choose one option. We can explore blended strategies that offer a balance of flexibility and guaranteed income.
You’re not expected to know all the answers. That’s our job.
Whether you're 6 months or 6 years from retirement, we’ll help you understand your choices and what they mean for your lifestyle, income, and legacy. Book a free, friendly chat to explore what suits you.
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🟩 Tax-Free Lump Sum
Take up to 25% of your pension as tax-free cash. Use it for large expenses, paying off debts, or simply creating a financial buffer.
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🟩 Flexible Income (Drawdown)
Draw income as and when you need it, while keeping your pension invested. Offers flexibility but also carries investment risk that needs careful management.
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🟩 Guaranteed Income (Annuity)
Leave your pension invested if you don’t need income yet. Allows for continued growth, but requires ongoing reviews to manage market risk.
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🟩 Leave Pension Fully Invested
Leave your pension invested if you don’t need income yet. Allows for continued growth, but requires ongoing reviews to manage market risk.
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🟩 Cash In Entirely
Withdraw your full pension as a lump sum. Gives immediate access but may trigger significant tax charges and affect future income security.
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🟩 Blend Multiple Options
Mix different pension strategies — combining lump sums, drawdown, annuities, and investments to create a personalised retirement plan.
The value of investments can fall as well as rise and you may not get back the amount originally invested.
How We help you plan ahead:
Review all your existing pensions (including old workplace schemes)
We’ll review all your existing pensions, including old workplace schemes, to ensure nothing gets missed.
Identify any gaps early
Spot any shortfalls early, so we can make adjustments while there’s time to correct course.
Check your investment risk level
Make sure you’re taking the right level of investment risk for your circumstances and retirement timeframe.
Make tax-efficient contributions where possible
Make full use of your tax allowances and contribution opportunities to grow your pension efficiently.
Ensure your funds match your long-term goals
Ensure your pension funds match your personal goals, timeline, and financial objectives.
Track your progress regularly
Review your pension regularly to keep everything aligned as markets — and your life — evolve.