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Ways to fund your retirement

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.

Pension Annuity Calculator

See how much income you could get from your pension fund.

Income drawdown

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).

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Fixed Term Retirement Plan from Aviva

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.

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Contact Us

If you have any queries or need information, talk to a member of our team by calling 0800 092 5852.

State pension and benefits

Don't forget that you might be entitled to a State pension. You may also be eligible for some State benefits. You can look into State financial support at

Funding your retirement in other ways

Equity release

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.

Read more about Equity Release

Read more about how to use your home in retirement


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.

Get help from an expert

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

Related FAQs

How do I know what state pension benefits I'm entitled to?

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 or get in touch with your local benefits office to find out more.

What types of annuity are available?

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:

  • Pension Annuity: This is the most common type of annuity. Most people opt for this as it’s low risk, it’s guaranteed and it will pay you an income for the rest of your life.
  • Pension Annuity with enhanced benefits: This type of annuity is the same as our Pension Annuity but it can pay a higher income if you and/or your dependant have (or have previously suffered from) certain medical conditions.
  • With Profits Pension Annuity: This type of annuity allows you to link your income to the performance of our With-Profit Fund. It’s a higher risk than a conventional Pension Annuity but it gives you the potential for your income to grow. You need to remember that because your money is invested in the With-Profit Fund your income could also go down.
  • Immediate Life Annuity: This type of annuity is purchased with your own money such as investments, savings and tax-free cash from your pension fund. It is a low risk option and will guarantee an income for the rest of your life.

Our Pension Annuity Calculator provides quotes on our Pension Annuity and Pension Annuity with enhanced benefits.

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Tools & Calculators

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