Get an overview of your payout options
Are you approaching your retirement age, it may be a good idea to get an overview of your various payout options. Some pension schemes have a fixed payout, and others you can choose whether you want one payout or several payouts.
Annuity pension scheme
An annuity pension scheme gives you the financial freedom to maintain your standard of living, even though your active working life has ended.
Retirement savings scheme
A retirement savings scheme is typically paid out as a lump sum, which you can spend whenever you want.
Life annuity
A life annuity gives you regular benefit payments for the rest of your life – no matter how long you live.
Capital pension scheme
With a capital pension scheme, you get your entire pension savings paid out as a lump sum, and you can spend the money whenever and however you want.
