Retirement planning and options
Helping our customers live a more colourful life since 1836
Saving into a pension pot
You’re building-up savings for your retirement and you want to know more about being well prepared for retirement.
Using your pension pot
You're working out what to do with a pension pot or several pension pots, to support your retirement.
More income in retirement
You’re building-up savings for your retirement and you want to know more about being well prepared for retirement.
Care in later life
Help and guidance to choose, arrange and pay for later life care for you or someone you love.
Our retirement products
Saving for a comfortable retirement
Personal pension
Not eligible for a Workplace pension or want to supplement your pensions savings?
Start from £100. Simple range of five funds. Tax efficient. Transfer an existing pension
Save with a workplace pension
Workplace pension
Already in a workplace pension or received an enrolment notification?
Learn how to make the most of your workplace pension and the benefits of saving now.
Guaranteed income for life
Pension Annuity
Use your pension pot to buy a guaranteed, regular income for life.
Peace of mind knowing exactly how much you’ll receive and when.
Take up to 25% of your pension pot as a tax-free lump sum.
Guaranteed income for a set period
Cash-Out Retirement Plan
Use your pension pot to buy a regular income for up to 25 years
Could be a tax-efficient way to take cash or use as a bridge to a future date when another source of income starts.
Take up to 25% of your pension pot as a tax-free lump sum.
Guaranteed income for a set period with a lump sum at the end
Fixed Term Retirement Plan
Use your pension pot to buy a regular income for up to 25 years, with a lump sum at the end.
Security of regular income for a set period, and various options on what to do with your lump sum once the plan has matured.
Take up to 25% of your pension pot as a tax-free lump sum.
Flexible income
Personal Pension Drawdown
Take up to 25% of your pension pot as a tax-free lump sum.
Invest the rest with the flexibility to access the remainder of your pot when you want.
Advice on using your pension
Retirement Advice Service
Pension planning advice from our team of expert financial advisers.
Our advisers are regulated by the Financial Conduct Authority (FCA) to give pension advice on an impartial basis. That means they won’t just include our products in the recommendation they give you – if there’s a better option available, they’ll let you know.
A loan secured against your home where you don’t have to make monthly payments
Lifetime Mortgages
A form of equity release. The amount borrowed plus interest doesn’t need to be repaid until you die or move into long-term care.
You can use the money to repay an existing mortgage or spend it on something else.
The amount you can borrow is determined by your age and property value and there’s no affordability assessment. You have the option to pay all, some or none of the interest
A loan secured against your home where you make monthly payments
Retirement Interest Only Mortgage
A type of residential mortgage, the amount borrowed doesn’t need to be repaid until you die or move into long-term care.
You can use the money to repay an existing mortgage or spend it on something else.
You can borrow up to 60% of the value of your home and need to be able to afford the monthly interest payments. As a last resort, your home may be repossessed if you do not keep up payments.
Looking for other ways to save?
Open a Stocks and Shares ISA from just £20 a month, or a £100 lump sum deposit, you can start saving today with a choice of five diversified fund solutions to choose from based on your risk appetite.
More resources to support your wellbeing
Budget planner
Try our budget planner to see if there’s areas where you might be able to reprioritise your spending.
Free midlife MOT course
Your midlife years are likely to be busy. That can make it difficult to look beyond your day-to-day challenges and achievements. Our new course with The Open University will help you take a long-term view of where you're headed and what you need to do to get there.
Listen to our award-winning podcast
Life’s milestones often come with big financial decisions. How much should I pay into my pension? Can I retire early? In the new series Angellica makes sure our great guests hear answers to their questions about money and saving from financial experts.
Existing retirement customers
We're here to help you enjoy your retirement. Would you like to:
Retirement help and guidance
We all have something to learn from the guidance and advice available in this complex marketplace - so make the most of the help on offer. Other providers may have more appropriate products or be able to offer a higher level of retirement income.
Retirement guidance
Pension Wise from MoneyHelper
The government’s free and impartial service, offering guidance to make money and pension choices clearer.
To find out more or book an appointment online click below or call.
0800 138 3944
8am to 6.30pm, Monday to Friday.
Calls may be recorded and monitored.
Speak with us
Our colleagues are always happy to help with your questions or to help you apply for a quote.
Understanding your pension options
Connect to an independent financial adviser in your area through Unbiased.