Take care of your retirement with a regular income
When you retire, up to 25% of your total pension fund can normally be taken as a tax free lump sum immediately. The remainder can then be converted into an annuity which will pay you a taxable income, any time from age 55. Please be aware tax rules are subject to change and the benefits will depend on your individual circumstances.
Important points to consider
- You don’t have to stay with your existing provider when you retire and often they won't offer you the best annuity income.
- Different annuity providers offer different annuity rates. The difference between the best and worst can be significant and therefore greatly influence your annual income.
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