How can I fund my retirement?

If you're approaching retirement, it's important to think about the options for using your pension savings to create an income in retirement.

Annuity vs drawdown – what's the difference?

Many of us have spent the last few decades planning and carefully saving for the things that are important to us, whether that’s life’s luxuries, our mortgages and bills, or our plans for the future. As we get older we might have different priorities, but our financial planning for retirement should be just as important.

Guide to buying an annuity

Deciding that an annuity’s the right choice for you is only the beginning. You still need to look around, find the right one and then buy it. We’re going to give you some key pointers to help you do just that.

What tax will I pay on my pension pot?

If you’re looking forward to retirement, it’s good to know the best way to take your money without paying too much tax on your pension savings.

What is an annuity?

What is an annuity? We explain what annuity means and if an annuity is a good idea for you.

What are fixed term annuities?

A fixed term annuity pays a guaranteed retirement income for a specific period of time. We help you understand whether a fixed annuity is right for you.

How do annuities work?

Many people are looking for reliable ways of funding their later years. Perhaps you want to make sure the bills are covered for the foreseeable future. Maybe you’d like to fund those trips you’ve always dreamed of taking, or that hobby you’ve always loved so much. Or you might just want to top up your income when you switch to working part time.

Can I opt out of my pension?

Can you opt out of your pension? We help you decide whether cancelling your pension is a good decision for you.

Guaranteed annuity rates

A guaranteed annuity rate (GAR) is an annuity rate written into your pension policy that your provider has to offer you. We explore how GARs work.

14% rise in annuity rates in two years

Annuity rates in the UK have risen by 14% in two years. Is now the best time to buy an annuity? We look at what this means for your retirement income.

Getting an annuity quote online

Learn all about annuity quotes and how to get an annuity quote in minutes with our helpful guide.

Retirement planning course

Our simple online course with The Open University is designed to support you in your journey to a financially secure retirement.

Retirement income calculator

Our calculator provides a helpful estimate of your potential retirement income. Knowing how much money you’ll have in retirement can help you plan when you would like to retire, and how you would like to spend your retirement.

Retirement income guide

Whether it’s working out what you have, understanding your options or thinking about your next steps, our free Guide to Retirement Income can help you on your way to a more colourful retirement.

Helping you understand your money better