Frequently Asked Questions

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You asked: What do you mean by an income from my pension plan?

Most people think that their pension pot will start paying them an income when they retire. This isn't true, unless you are in a defined benefits scheme. Currently you must use your pension fund to buy another product - usually an annuity- that will pay you an income throughout your retirement. However, you do have more options as to how you use your pension pot - see How do I take money from my pension pot?

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