Your pension options

There are a number of ways you can take your money. You may already have an idea of what could work best for you, but it's worth taking time out now to make sure you fully understand all of your pension options.

Want to know more about your options?

Need to understand what your retirement could look like? We can help. Understand more to learn the basics about pensions and your options as you approach retirement. And don't forget, in 2028, the Government is expected to increase the age from which pension benefits can be taken to 57 from 55.

Have a closer look at your options

Flexible access to your pension savings

You can leave your pension savings invested, and take parts of your pension or withdraw a flexible income when you need it.

Flexible access

Take a guaranteed income for life (annuity)

Use your money to provide a regular guaranteed income for life.


Take it all in cash

You can take all of your pension savings as cash.

Take it in cash

Leave it for now

You don't need to do anything yet, you can leave your money invested and make a decision when you're ready to retire.

Leave it

You don't have to use just one option. You can combine these options in many different ways to meet your needs. Have a look at our table (PDF, 50KB) to help you compare the options.

Making managing your pensions easier

Are you ready to retire

Our retirement checklist can help guide you through what you need to do and when.

Combine your pensions

You might want to combine pensions. This can make keeping track of the value of your pension savings a little easier. It also means less paperwork to deal with, and may reduce the costs of managing your pension savings.

Extra help

Do you have a question?

Need a quick answer to a simple question?

Chat to us, just click the chatbot tab on the right.

Talk to someone

This is great for more detailed questions and pensions guidance.

Find the number that's right for you on our contact us page.