News

Guide: Your retirement choices: How to generate an income in later life

Retirement on your terms is likely to be one of the key elements of your financial plan.

So, as you approach or reach retirement, now is the time for you to start thinking about enjoying a comfortable life when you stop working.

Many people see retirement as the start of their “second life” – the time when you have the chance to do all the things you want to do. You may have been planning this moment for many decades and have grand plans for what you might like to do in the years ahead.

If you haven’t already done so, now is also the time to start thinking about your income in retirement, and how long it may need to last.

Aside from taking all your fund in one go – or not taking it at all and leaving it to pass to your heirs – there are four main options:

  • Buy an income for a fixed period or for life, known as an “annuity”.
  • Take an adjustable income, known as “flexi-access drawdown” (or sometimes just “drawdown”).
  • Take lump sums from your pension fund, sometimes known as “uncrystallised funds pension lump sums” (UFPLS).
  • Mix and match different options.

This useful guide explains the advantages and disadvantages of each option, as well as some other areas you might want to consider when planning for retirement.

Download your copy of ‘Your retirement choices: How to generate an income in later life’ to find out more now.

If you’d like to talk about your retirement plan, please contact us to arrange a meeting.

Helping you plan for today, tomorrow and the unexpected

Receive our newsletter

    Please read our Privacy Policy.

    Thank you for signing up to receive our regular newsletter. In the meantime, why not look at some of the articles from our previous newsletter articles