Flexible retirement options

It’s good to have options. But it’s better to have choice and flexibility. With Royal London, your employees can enjoy their retirement savings in a way that suits them.



Secure income
Employees can enjoy a guaranteed regular income for the rest of their life, by buying an annuity. 


Flexible access
Our income drawdown facility, Income Release, lets employees take the income they
need, when they need it.


Cash payment
Employees can take some or all of their retirement savings as one or more cash lump sums.


Leave it for now
Employees can leave their savings where they are, until the time is right for them.

Our integrated drawdown facility

If employees want to enjoy flexible access to their savings, they can move to our Pension Portfolio product with Income Release.

Our award-winning decumulation product is one of the highest quality offerings in the market. It includes our income drawdown facility, Income Release which has been awarded 5 stars by Defaqto which offers a range of tax-free cash and income options. Here are some of the reasons why employees might consider using it:

  • Flexible saving – employees can continue to save into their plan after taking any tax-free cash and/or income payments. As their savings are invested, the value can fall as well as rise, so they could get back less than they pay in.
  • Clear charges – if the annual management charge for regular contributions is lower on their group plan, employees will keep this when they move in to drawdown.
  • Value for money – we’ll only apply a charge to start using Income Release if an employee's plan has been with us for less than 12 months.
  • Low starting amount – employees only need £15,000 in their group plan to start using Income Release.
  • Keep their group plan – employees can keep their group plan if they want to, as long as they leave a minimum of £200 in their plan.
  • Leave money for loved ones - employees can leave their retirement savings to their loved ones when they die.

Find out more about Income Release.

For more information about our flexible retirement options, speak to your adviser. Find more about our workplace pension.

The Royal London Mutual Insurance Society Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England and Wales number 99064. Registered office: 55 Gracechurch Street, London EC3V 0RL.