From age 55, or age 57 from 6 April 2028, employees can choose to:
Leave their pension savings invested.
Until the time is right for them to take it.
Take one or more cash payments.
This can be some or all of their pension savings.
Secure a regular guaranteed income.
By buying an annuity.
Have flexible access to their pension savings.
With Income Release, our income drawdown facility.
When your employees reach retirement they can move some or all their money into a new plan, with the Income Release facility, as long as they have at least £10,000 in their workplace pension plan.
If the annual management charge for regular contributions is lower on their group plan, they'll keep this when they move to our income drawdown option, Income Release.
Rated 5 star by Defaqto, it provides one of the highest quality offerings in the market, with a range of tax-free cash and income options. With Income Release, your employees can:
For more information about our range of retirement options, speak to your financial adviser.