When it comes to taking money from your pension plan, you have a number of options. You can take a cash lump sum, set up a regular income, leave it for now and keep the money invested or a combination of all three.
There’s a lot to think about, but this quick options tool breaks down all the ways you can take money from your pension plan.
Don’t worry if you’re not completely sure what you’d like to do. Simply pick an option to start learning more.
This information is based on our understanding of laws and tax rules applying from April 2020.
These can change in the future and will depend on individual circumstances.
Not to worry. There’s a lot to think about when it comes to taking your pension money and planning for life after work. That’s why we’ve created many useful guides and tools to support you.