Retirement Options Fact Sheet

An outline of your choices

There are a variety of means of taking benefits from your pension arrangement. The correct choice for you will depend upon your willingness to accept risk and your personal circumstances. You should consider all options before selecting the most appropriate route.

This fact sheet has been prepared to provide an outline of the available options. We recommend that you read this before discussing your detailed and individual requirements with your Adviser. It describes how each option works in practice, the advantages and disadvantages and risks associated with each method. We hope this will assist you to establish the most appropriate method of drawing retirement benefits, in conjunction with your Adviser.

Please bear in mind that factors such as the benefits from an Occupational Scheme (OPS), including Small Self Administered Schemes (SSAS), or availability of other funds should also be considered in making your decision. Your adviser will consider these when discussing and arriving at a recommended course of action for you.

Please note: A transfer from an occupational scheme may restrict the amount of tax free cash available. The information concerning the taxation treatment of the contracts or action described in this fact sheet is based on our understanding of current HMRC law and practice. Taxation law is subject to change.

1. Taking Benefits
2. Purchase of Secured Income (various types)
3. Phased retirement
4. Unsecured Income
5. Phased Retirement & Unsecured Income (Phased Drawdown)
6. Alternatively Secured Pension
7. Use of a 'SIPP'