For example, if you move your pension pot into drawdown and start by taking your 25% tax-free cash. You then have the flexibility to drawdown further lump sums as and when you need them.
You then decide that you want the security of a guaranteed income to pay your regular bills, so you use 60% of your remaining drawdown pot to buy a guaranteed lifetime annuity and leave the remaining 40% in your drawdown pot to use when you need it.
You can get a personalised annuity quote online, which will:
Remember: The choices you make may affect your income for the rest of your life, and with annuities products you can't change your options later. We strongly recommend seeking financial guidance or advice.
The Government’s free and impartial service, offering guidance to make money and pension choices clearer.
To find out more or book an appointment online click below or call.
0800 100 166
8am to 8pm, Monday to Friday.
Calls may be recorded and monitored.
Our colleagues in Cardiff are always happy to answer your questions or help you apply for a quote.
0808 258 5146
Monday to Friday
9am to 5pm
We may record and monitor calls.
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