Retirement Benefits

Taking your retirement benefits

Have you asked yourself the following questions?

• Do you know how much income you will need in retirement?

• Do you know how much income your pension is likely to provide when you retire?

• Do you know how you will be taking your retirement benefits?

• What other income can you rely on in retirement?

• How much pension would your spouse/partner receive in the event of your death now or in retirement?

After paying into your Personal pension or Company Pension, now is the time to use the fund to buy an annuity. Put simply, you swap your pension fund for an annuity which will give you a guaranteed income until you die.

Unfortunately, buying one isn't that simple – there is a wide and confusing variety of types and rates available:

• Level
• Escalating
• Inflation Linked
• Impaired Life

You can stay with your exising provider or use the "Open Market Option" option and you can shop around to find the most suitable annuity for you, with the most competitive rate available at that time.

Call us now for advice