Summary of options

This guide outlines the five options available to anyone over the age of 55 with a defined contribution pension pot. It also helps you identify the type of pension you have so that you can check if these options apply to you.

Your pension pot options in more detail

  • Guaranteed income

    The following series of nine short videos explain more about using your pension pot to provide a guaranteed retirement income for life by purchasing an annuity.

  • Flexible income

    The following series of six short videos explain more about using your pension pot to provide a flexible retirement income by moving it to special arrangement called a FAD pension.

  • Lump sum

    The following series of eight short videos explain more about using your pension pot to take cash lump sums as and when you need them.

  • Take it all

    The following series of seven short videos explain more about taking all your money out of your pension pot in one go.

  • Leave it

    The following series of four videos explain more about leaving your pension pot where it is and deciding to make your choices later.