When it comes to using the savings pot you've built up over the years you've got more opportunities than ever before. Find out what your options are, and what you need to think about when it comes to tax and the State Pension too.
Note: If you want to take an annuity, or keep your money invested and withdraw lump sums from it when you need it, you’ll need to transfer your money to a suitable provider. In some cases, you’ll need to take independent financial advice.
It’s a good idea to check where your savings pot is invested as you get closer to the date you want to take it, so you can see if your investment option reflects how and when you want to take your savings. You can pick from a range of options should you wish to make a change. Remember, your savings pot will be invested in a Target Date Fund unless you changed to another option. Your savings pot will remain invested in this option until you make changes or decide to take it.Reviewing your investment
If you're considering making changes to the way you're saving or investing, a financial adviser could be an invaluable resource when it comes to making good financial decisions.
Ask for a free consultation – most advisers will spend an hour with you, free of charge, to help determine what you need and how much it might cost.
Find out more
Find a list of financial advisers at the Money Advice Service. Before you choose your adviser, see if you can find testimonials or reviews of the individual/firm.
Here's what you can do, and can expect to receive from us, in the 12 months before you take your money.
Most people will receive a State Pension. The amount you receive depends on how many 'qualifying years' you have when you reach State Pension Age.Visit the HMRC website to find out more
Unfortunately, people approaching retirement are often targets for scams. Make sure you know what to look out for and how to spot an offer or a request that isn't legitimate.ScamSmart
If you haven't registered for your online DC account yet, click here to find out how you can do it