Retirement Options

At retirement, you will be provided with a quotation detailing the options that are available to you.

You will be given the option of:

• Receiving an annual pension; or
• Exchanging part of your pension for a tax-free cash sum and receiving a smaller annual pension (we will provide a quotation based on the maximum tax-free cash that you can take).

If you wish to take a smaller tax-free cash and therefore give up less of your annual pension, you will need to contact the Administration team.

You may wish to speak to an Independent Financial Adviser (IFA) about the options available. You can find details of an IFA in your local area by visiting www.unbiased.co.uk.