Sarah Coles, personal finance analyst at pension firm Hargreaves Lansdown, runs through all your options if you want to take an income from your pension.
Who will need to draw an income from their pension?
Unless you have a final salary or defined benefit pension, chances are you will be amassing a lump sum for your retirement.Once you get to the age of 55 it’s entirely up to you what you do with it, but there are essentially four main options: You can buy an annuity – which usually involves exchanging your pension pot for a regular income […]
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