Receiving my pension

Your options depend on whether you are in a Defined Benefit or Defined Contribution pension scheme. You may also have Additional Voluntary Contributions.
In a Defined Benefit scheme, your pension at retirement will be defined by the rules of your scheme. We will send you a retirement quotation six months prior to the Normal Retirement Age, as defined by the rules of your scheme.
With Defined Contribution schemes and Additional Voluntary Contributions, you will typically be able to take up to 25% of your retirement fund as a tax-free lump sum. There are various options as to what to do with the rest of your retirement fund. The two key alternatives are that you could buy an annuity that pays you a regular income for the rest of your life, or you could transfer the fund to another approved vehicle and draw down on the fund over time. You can receive independent advice from The Pensions Advisory Service HERE. You can find an independent financial advisor by visiting the Money Advice Service HERE. You can also find details of your nearest Independent Financial Adviser at