Your options at retirement
Turning your pension into income is one of the biggest decisions you can make, and you have several options on what to do with your pension savings.
Almost £2.5 billion worth of payments were made to customers in the first three months since the new pension freedoms came in, according to the ABI statistics.
That’s equivalent to £27 million a day. ABI figures for April, May and June 2015 also showed £2.3bn had been used to buy nearly 37,500 regular income products, either pension annuities or income drawdown products.
The trend has continued.
The importance of accessing the right advice is vital, since there can be unexpected tax implications if the wrong decision is made.
Our helpful infographic outlines the main changes to personal pension freedoms from 6 April 2015.
With freedom comes great responsibility
For advice on all your options to make your money last a lifetime, book a free pension consultation with us now by completing the form below.