Taking your pension
When you decide to take your pension, you will need to make some important decisions.
Should you give up some of your pension for tax-free cash? Do you want to provide a pension for your dependant when you die? Do you want to carry on working for the company?
Any decision you make will have an effect on your income when you retire.
Top tips
- You may be able to increase your retirement income by buying a purchased life annuity policy from an insurance company using the cash from the pension plan.
- The decisions you make when you retire will affect the rest of your life - don't rush them.