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Options for using your pension pot

Following changes introduced in April 2015 you now have more choice and flexibility than ever before over how and when you can take money from your pension pot. Take your time to understand your options, and get help and advice as what you decide now will affect your retirement income for the rest of your life.

Your options at a glance:

  • Leave your pension pot untouched. You might be able to delay taking your pension until a later date. Your pot then continues to grow tax-free, potentially providing more income once you access it.
  • Use your pot to buy a guaranteed income for life – an annuity - find out more

  • Use your pot to provide a flexible retirement income – flexi-access drawdown - find out more