Would you like to avoid the rigidity of an fixed income annuity?
Are you a higher-rate tax payer and require income flexibility?
Are you gradually winding down from full-time employment?
If so then a phased retirement may be an option. Here you opt for a specified level of income each year combining part of your tax free lump sum with the taxable element of your pension. This approach can be a highly tax efficient way of generating retirement income and provides huge flexibility when combining pension income with other income elements such as yield from investments, capital gains and property income.
As with all retirement options a full analysis of your situation, requirements and appetite for risk needs to be established before any decision is taken. Our retirement service is specifically aimed at ensuring you make the correct choices at what is a very important time in your financial life.