An annuity will likely suit you if;

  • You want the peace of mind of having a guaranteed income for the rest of your life.
  • You do not wish for your retirement income to be subject to market fluctuations.
  • It is possible for your income to rise with inflation.
  • You would like to build in a guarantee period or spouse’s pension upon your death.


Flexi-Access Drawdown will likely suit you if;

  • You want the flexibilty to withdraw an income, as and when required.
  • You would like for your pension funds to continue to be invested, with the possibility of increasing its growth potential.
  • You want to take out different amounts each year and change your income to suit your circumstances.
  • You would like for your nominated beneficiary to have greater flexibility in terms of death benefits.


Encashing your entire pension will likely suit you if;

  • You have suffered poor health and a guaranteed income for life may not be the best option for you.
  • You want to have quick access to your pension fund.
  • You require the full amount and do not wish to leave any residual invested.


Using UFPLS will likely suit you if;

  • You may require access to a single lump sum and do not wish to commit to a regular income.
  • You want to take varying amounts of money each time, without setting up a regular income.
  • You wish to spread your 25% tax-free allowance over a period of time.


You do not need to choose one option and you can mix and match as you like, and take cash and income at different times to suit your own retirement needs. Though, please be aware that purchasing a lifetime annuity is an irreversible decision and once set, it cannot be changed.

It is important that you plan your retirement income carefully, with particular consideration towards the following factors:
  • Your age and health.
  • When you stop or reduce your work.
  • Whether you have financial dependents.
  • Your income objectives and attitude to risk.
  • The size of your pension pot and other assets available to you.
  • Whether your circumstances are likely to change in the future.
  • Your partner’s savings, if relevant
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