Results
These examples give you an idea of the income our retirement products might provide. They assume you take the maximum 25% tax-free cash sum available but you can choose to take less. The results are examples only and aren't advice. The actual income you can get will depend on your individual circumstances.
Guaranteed income for the rest of your life
Pension Annuity
- Can pay higher income for health conditions and lifestyle risks.
- Can provide an income for your spouse, civil partner or beneficiary after you die.
- Can’t change your options once the plan has started.
The figure above shows the gross income before any tax is deducted.
Guaranteed income for a set period and lump sum at the end
Fixed Term Retirement Plan
- You decide the amount of income and lump sum.
- Option to make withdrawals from lump sum or cash in whole plan.
- Higher income not available for health conditions and lifestyle risks.
The figures above show the gross income and lump sum before any tax is deducted. You are able to change the term and lump sum selected above.
Guaranteed income for a set period
Cash-Out Retirement Plan
- You decide the amount of income and how long it's paid.
- Option to cash in whole plan.
- Higher income not available for health conditions and lifestyle risks.
The figure above shows the gross income before any tax is deducted. You are able to change the term selected above.
Take it all as cash
The below includes the 25% tax free amount
- Take whole pension pot in one go.
- You could pay more tax than other options.
- Money might not last as long as you need.