Your retirement, your choice - understanding the new pension freedoms
This Association of British Insurers' (ABI) video aims to help pension customers understand their choices when it comes to making important decisions at retirement, including speaking to the Government's free and impartial Pension Wise service.
From 6 April pensions customers will have more freedom over how they take their money from their pension pot.
Reforms introduced by the government mean your options include:
Taking some or all of your pension pot as cash
Keeping the money invested and drawing a regular income
Buying an annuity
OR any combination of these
Change can be confusing.
But the Association of British Insurers’ guide aims to help you understand your choices when it comes to making important retirement decisions.
Retirement is changing. Understand what it means for you.
Visit the Government’s Pension Wise website for free, impartial advice.
Take some or all of your pension as cash, leave it invested or buy a product like an annuity to give you a guaranteed lifelong income.
Make sure you get all the info before making a decision.
Beware of scams. Too good to be true? It probably is.
Saving and making an informed decision will help you enjoy your retirement.
Visit the Government’s Pensions Wise website at: www.pensionswise.gov.uk to help you understand your new pension options.
For more information from the ABI, visit www.abi.org.uk/yourchoice.
It’s Your Retirement. Your Choice.