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Spending your pension
What happens when I retire?
What happens when I retire?

How to start enjoying the freedom you’ve worked for.

Updated over a week ago

When you retire (usually above age 55), there are several ways to use your assets.

Your options will include:

  • Buying an annuity, which gives you a guaranteed income for life or over a given period of time

  • Taking small amounts as and when you need them

  • Withdraw your entire pension as a lump sum

Ultimately, you’re in control of how you spend your pension. Many people combine different methods.

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