Choices at
Retirement

The choice of how you draw on your pension arrangements at retirement is very important. It may represent the largest investment decision you ever take. It will almost certainly have a major financial impact on the remainder of your life.

Your options are firstly driven by the type of pension arrangement(s) of which you are a member:

  • Defined contribution, eg personal pensions, executive pension plans and money purchase occupational schemes.
  • Defined benefit, ie final salary pension schemes.
Normally you can broaden your options by transferring to another pension arrangement. However, this is a specialist area and you should always take independent advice before making any move.