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Deciding how to use your pension pot

Answer the questions below to get an understanding of the key decisions you need to make when deciding how to start taking your pension.

How much income could you receive?

Use our Retirement Income Calculator to find out how much your annual income could be using our suite of products, plus the tax impact of taking it all as cash.

Retirement income products compared

Guaranteed income (Pension Annuity)

Fixed Term Retirement Plan

Cash-Out Retirement Plan

Flexible income (Pension Drawdown)

Can it provide a regular pension income?

Yes

Yes

Yes

Yes

Can I choose a guaranteed income each month?

Yes

Yes

Yes

No

Is my income guaranteed to last my whole life?

Yes

No

No

No

Can I change how much I get?

No

No

No

Yes

Am I exposed to market movements, up or down?

No

No

No

Yes

Need help?

Making decisions about how to finance your retirement is important so it’s worth shopping around and using available guidance and advice, before you buy.

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Retirement guidance

Pension Wise from MoneyHelper

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 138 3944

8am to 6.30pm, Monday to Friday.
Calls may be recorded and monitored.

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Speak to us

Our colleagues in Cardiff are always happy to answer your questions or help you apply for a quote.

0808 189 9551

Monday to Friday
9am to 5pm
We may record and monitor calls.

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Retirement advice

Retirement Advice Service from Legal & General

Our advisers are experts in retirement regulated by the Financial Conduct Authority, so you can trust them to provide impartial advice and a personal recommendation that’s right for you.

0808 304 9155

Our team is available between 9.00am and 5.00pm, Monday to Friday. Calls may be monitored and recorded.