• Making retirement work for you Retirement has changed and with the new freedoms for your retirement investments, now’s the time to reinvent your retirement plan.
  • What are the pension freedoms?

    The Government announced pension freedoms in the 2014 Budget and it started from 6 April 2015. It means anyone aged 55 has greater choice over how to use the money they've invested into their pension.

    Access as much or as little of your personal pension as you want, to spend on what you want.

    Choose if you want to put your money away in an annuity to provide an income.

    Move your pension into drawdown to keep it invested and take an income from it.

    Pass your pension onto your family tax-free.

    With the new pension freedoms you can take your pension whenever you like. But actually building up your retirement investments in the first place isn’t always easy. We’ve looked at ways you can save during the build up to retirement.


  • Getting help with your pension planning

    It's important to think carefully about your financial options when you plan for retirement. An adviser can help you understand your options and recommend the best path for you.

    If you don't have a financial adviser you can use our handy service to find an adviser near you.

    Help and support is also available through the Government's service Pension Wise.


    Find an adviser local to you

  • Frequently asked questions
    How much can you take as a tax-free lump sum?

    You can normally take up to 25% of your pension fund as a tax-free lump sum. The reduced balance can then be used to buy an annuity or to start a drawdown pension. 

    What’s an annuity?
    What’s pension drawdown?
    What is an uncrystallised funds pension lump sum (UFPLS)?
    What’s a defined contribution pension?
  • Please bear in mind

    Please note that the value of investments can go down as well as up and are not guaranteed. You could get back less than you invest.

    Tax treatment is subject to change and dependent on individual circumstances.

    Taking high income and/or lump sums may mean that you will pay more tax, and could cause you to enter a higher tax bracket.

    By taking income from a pension fund, together with any charges, you are reducing the value of your pension fund and potential for future growth - particularly if you take high levels of income and/or investment returns are poor.