Retirement Planning

Drawing your pension

Retirement income is now classified under 4 main headings:-

  1. Scheme Pensions - typically, drawing your income directly from your employer’s occupational pension scheme.
  2. Lifetime annuities - taking your income as an annuity - associated with drawing income from personal pension / Stakeholder pension type schemes
  3. Unsecured pension - Pension Fund Withdrawal / Income Drawdown and Phased retirement
  4. Alternatively Secured Pensions - A type of income withdrawal that is only available from age 75
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