What's the right pensions choice for you?
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Our experts can help you make the right choice
The type of retirement you want is personal to you and your choice of how you wish to enjoy it. With recent changes to pensions there are a variety of choices for you to consider.
With so much financial jargon to understand, combined with pensions changes and extensive media coverage, it’s understandable that pensions choices could be confusing. That’s where your NFU Mutual Financial Adviser can help by explaining the choices you’re facing – with clarity, insight and expert knowledge – so you can make the most of your pension and avoid an unnecessary tax bill.
Taking expert advice will ensure you consider all the options and choose the right one for you.
A lifetime annuity provides you with a regular retirement income for life with the security of knowing that the income will continue till you die. Take a look at our Guide to Annuities
Take 25% of your pension pot as a tax free lump sum and leave the rest of your fund invested. You can then take a taxable income whenever you want to.
You can take all of your pension pot as a lump sum in one go or you can take lump sums from it when you need it. The first 25% of any payment will be tax free and the remaining 75% added to your other income and taxed. However, you could end up with a large tax bill and run out of money in your retirement.
Take 25% of your pension pot as a tax free lump sum and leave the rest of your fund invested to provide you with a regular taxable income. You can change the income you take to match your circumstances, but unlike a lifetime annuity your income isn’t guaranteed for life.
You don’t have to choose one option. Take a mixture of cash and income at different times to suit your needs or use some of your pension pot to purchase an annuity. Take a look at Phasing Your Retirement
Important pension changes came into effect in April 2015, and with the right advice, the financial benefits could be vast. We’ll help you make the most of your pension fund so you can avoid unnecessary tax bills and generate a sustainable income. Take a look at what Pensions Freedom means for you.
It’s important to remember that tax treatment depends on individual circumstances and may change in the future.
Whether you're new to pensions and looking into saving for your retirement, or retirement is just a few years away your NFU Mutual Financial Adviser* can help you make the most of your money now and in the future.
Talk to the experts
Our Financial Advisers* can offer expert, personalised advice to help make saving for your retirement as easy and practical as possible.
When you contact us we'll explain the advice services we offer and our charges. NFU Mutual Financial Advisers advise on NFU Mutual products and selected products from specialist providers.
For security and training purposes, calls may be recorded and monitored.
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