Your options will depend on how much money you've put aside for your retirement. Different options will suit different people, depending on how flexible you want your income to be and how many risks you want to take with your money.
Annuities are the most popular way of turning your pension fund into an income. There are different types and options open to you. Find out about this in our annuities section.
To find out how much income you could get from your pension fund, visit our Pension Annuity Calculator.
Income drawdown - also known as 'pension fund withdrawals' - is a way of taking an income from the money you've built up in your pension fund. Income drawdown from Aviva may be suitable for you if you're aged over 55 and you have a minimum of £30,000 in your pension fund(s).
We offer a retirement income plan that lets you start using your pension fund for a fixed term of your choosing between five and 10 years. This may be suitable if you have a pension fund of at least £30,000, after any tax free cash is taken and any adviser charge is paid.
If you have any queries or need information, talk to a member of our team by calling 0800 092 5852.
You could be living in your most valuable asset. There are a number of things you could do to get money from your home, including downsizing or renting out space. If you own your home, you may be able to release equity without having to move.
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
You may be able to help pay for your retirement through investments you've built up over the years by cashing in or moving from growth funds to income funds. However, this may not be suitable for everyone and you should talk to a financial adviser.
Deciding how to fund your retirement is an important decision. We strongly recommend that you talk to a financial adviser first. If you don't have an adviser, you can visit www.unbiased.co.uk.
The Pension Service will contact you about three months before you reach the state pension age. They will ask you to fill in a form telling them whether you want to start taking your state pension and how often you want it to be paid.
You may also be entitled to other benefits. Visit the government website at www.gov.uk or get in touch with your local benefits office to find out more.
There are a number of annuities available to you. At Aviva, we offer a range of annuities that you can tailor to suit your personal circumstances:
Our Pension Annuity Calculator provides quotes on our Pension Annuity and Pension Annuity with enhanced benefits.
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If you'd like any more information, please contact us.
We've got a number of calculators to help you get your finances under control.
Register for our online service where you can securely access details of your existing policy.