Your pension can support retirement in different ways. An annuity offers guaranteed income under its terms. Drawdown offers flexibility while your remaining pot stays invested. Your plan may use one approach or a combination.
Start with the life you want
We consider essential spending, other income, your family and how much uncertainty you can accept. We compare the options, costs and protections before you decide how to use your invested pension.
Our pension advice covers defined contribution pots. Expected defined benefit income can form part of your wider plan, but we do not provide defined benefit transfer advice.
Drawdown income is not guaranteed and your money could run out. Annuity choices affect income and benefits for a partner, and usually cannot be changed once arranged. Investments can fall as well as rise. Tax treatment depends on your circumstances and may change.
Start with a conversation
Your initial consultation is free. Any fees will be explained before a meeting takes place, and all meetings are without obligation.
Explore pension drawdown, retirement planning or MoneyHelper’s annuity guidance.