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Introduction

Who is this guide for?

What help do I get in this decision?

Introduction

Whatever provision you have already made for your retirement, it’s really important that you think carefully before you make decisions about how much
you’ll have to live on for the rest of your life.

When you come to take your benefits, you can take up to a quarter of your pension savings as cash but the majority of your pension savings have to be used to provide an income. This income is known as an ‘annuity’. You choose the type of annuity you want and it pays you a regular income.

So that you provide the best possible future income for yourself and any dependants upon your death it is very important that you choose the right annuity for your circumstances.