Retirement options for your employees

When your employees decide to start taking money from their pension plan, we can offer them a range of retirement options that suit their needs. With more options and flexibility available, your employees will have more decisions to make when it comes to accessing their pension plan. We’re committed to making these choices as clear and reassuring as possible, thanks to expert guidance and support on demand.

What are the different retirement options?

Taking cash

When your employees start taking benefits from their pension plan they can withdraw money as often as they like. The rest stays invested, which gives it the potential to keep growing. Employees also have the freedom to turn their pension plan into a regular income at any time.

The Retirement Pathfinder tool is a great place to start, helping your employees decide the best retirement option for their needs.

More about taking cash

A flexible income (drawdown) lets your employees take benefits from their pension plan as and when they need it. The rest of their money stays invested and they can also pass on any remaining funds to loved ones when they die.

The Retirement Pathfinder tool can help your employees decide if this is the best option for them.

More about flexible income

Flexible income

Guaranteed income for life

Also known as an annuity, this is where your employees can buy a guaranteed income that is paid out for the rest of their life. By using the Retirement Pathfinder tool, your employees can decide if this is the best option for their needs.

More about a guaranteed income for life

Your employees can choose to leave their money invested in a pension plan. They could choose to do this if they have other sources of income or don’t need the money yet. Leaving the money in a pension plan gives it the potential to keep growing in value.

Your employees decide if this is the best option for them by using the Retirement Pathfinder tool.

More about leaving pension invested

Leave it invested

Your employees will need to carefully consider these options.

It’s so important they choose an option that will fit in with their plans and lifestyle.

It's important that your employees keep an eye on how much they take out of their pension pot and what's left, as their income will stop if their money runs out.

The value of your employees' funds can go down as well as up and they may get back less than they paid in.

Tax and legislation may change. The information here is based on our understanding as at April 2019. Your employees’ circumstances will have an impact on tax.