Retirement

Comparing different retirement income options can help you make an informed decision. Find out more about the differences between annuity and drawdown.

Discover how to manage your pension pot effectively in retirement, including flexible access and annual reviews, to ensure your pension lasts as long as you do.

Early retirement is the goal for many people. But anyone considering retiring at a younger age needs to understand the impact it will have on their pension and lifestyle.

If you accessed a pension before 6 April 2024, a standard calculation will tell you how much of the new lump sum allowances you have left.

If you’re 55 or over, you can choose to withdraw all your pension pot in one go - but what are the implications? We list the main things you should think about.

When you save for retirement using a pension, part of your withdrawal is tax-free, but what about the rest of it? This article looks at the taxes that apply when you access your pension.

Once you start to flexibly access your pension, including your SIPP, you’ll trigger the money purchase annual allowance (MPAA), which is set at £10,000. Learn more about the MPAA.

You now have greater flexibility than ever when deciding how to take your pension. Withdraw 25% of your SIPP fund tax-free or explore alternative options here.

As well as drawdown and annuities, your retirement options include taking lump sum payments straight from your pension pot. So how does it work, and are pension lump sums taxable?

To help you make those all-important choices about your pension in the run up to your retirement, here are 10 things you should consider.

In the past, investing in later life was all about reducing risk and converting investments into cash. Now, there are other options available - learn about what they are in more detail.

The lump sum allowance (LSA) is designed to cap the tax-free lump sums you can take from your pensions in your lifetime. Learn more about the LSA and LSDBA here.

SIPP drawdown is a flexible way to access money from your pension - you choose how to invest your pot and what income you take and when. Discover the benefits of drawdown here.

A pension annuity converts your pension pot into a guaranteed income for the rest of your life. Learn more about how annuities work and what the different types of annuities are.