Generate your income
Generate your income
When it comes to taking your retirement income, you now have more choice than ever before about when and how. So, what are your options?
Your first decision is whether you’d like to take any tax-free cash from your personal pension savings. You can take up to 25% completely tax free.
Your next decision is how to use the rest of your pension pot to give you an income in retirement.
Your main options are securing a guaranteed income for the rest of your life, also known as a pension annuity, using drawdown, withdrawing taxable lump sums, taking all of your pension savings as cash or combining some of these options.
If you are a home owner who is already retired or who doesn’t have enough savings to enjoy the retirement you'd like, then releasing equity from your home may be an option for you.
