The options you choose when you take out your With Profits Pension Annuity will affect the amount of pension income you'll get. Generally, the more options you add, the lower your income in retirement will be.
You can get a personal illustration so that you can see the difference the various options would make to your pension income.
Pension Wise is a free and impartial service set up by the government for people retiring with defined contribution pensions. It will help you understand what your choices are and how they work.
You'll be able to get help on the Pension Wise website, over the phone or face to face about:
- what you can do with your pension pot
- the different pension types and how they work
- tax you pay on your pension.
If you're not sure about your options at retirement you should seek appropriate guidance or advice.
Speak to a financial adviser
Nothing on this site is personalised advice or a recommendation. If you need a personalised recommendation based on your personal circumstances, you should seek financial advice. We can't give you advice but we can put you in touch with an adviser who can talk to you about which financial products or investments may be right for you.
Call a member of our team on
0800 533 5195
- Monday to Friday - 9.00am - 5.00pm
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Alternatively, you can visit www.unbiased.co.uk to find an adviser in your local area