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Our Pension Income Service

Especially designed to suit you

Our Pension Income Service is specially designed to help people get the best income from their pension savings.

We understand that no two people are the same and so we don't try to offer a one size fits all approach. Rather we offer you access to your pension-income options in a way that suits you.

Below is the full range of pension income options available to you through our Pension Income Service:

Whichever pension income option you choose, you will usually be able to take anything up to 25% of your pension savings as a tax-free lump sum² of cash immediately so you can start to enjoy your retirement straight away.

Our Pension Income Service provides you with a number of ways of buying your chosen pension option. We have pension income specialists who provide you with all the information you need to make your own decision about your pension income, answering any questions you have and providing you with an illustration without obligation, for the options you are interested in, this is known as a non-advised service.

After speaking to our specialists, many people are happy and feel confident in going ahead with their chosen pension-income option.

For those who are unsure of what to do with their pension savings or would prefer to have someone make a recommendation to them, we have a team of Financial Advisors, whose job it is to understand your needs and circumstances and give you financial advice about which option they think would best suit you.

We also recommend that you consult the government's Pension Wise website to help you further understand your pension-income options.

We're very proud to have been awarded the highest possible rating of "Exceptional" by Investor in Customers for the fifth year running, so you can be confident of the high-level of service you will receive when you speak to us.

Whether you're happy to decide for yourself or want a recommendation, we are here to help you get the right pension income to enjoy your retirement.

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¹ There are no guarantees of the income this will provide at the end of the term as this will depend on economic and investment conditions at that time. For example, annuity rates may be higher or lower than they are now.

² Some people can take more than 25% tax-free cash and some less. This depends on your individual circumstances and may change in the future. Taking tax-free cash from your fund will reduce the amount available to purchase your income which could in turn reduce your income.

All of the information that we provide is based on our understanding of current tax and pension rules, which can change.

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