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Green Field

Taking Your Pension

After all the blood sweat and tears of getting a decent pension fund in place, you’d think the hardest part was behind you.

Maybe it is, but now you face a plethora of additional questions. The list can seem impenetrable and daunting and may include:

1. How can I access my pension?

3. Should I buy an annuity or keep my pension invested?

5. If I keep my pension invested, what is the highest income I can take without undue risk?

7. What happens when I die? Will my spouse or other dependents receive any of my pension?

9. Do I qualify for higher than standard annuity rates due to a health condition?

11. If I keep my pension invested, how should I invest the money and how much risk should I take?

2. Will I have to pay tax on the income I receive?

4. If I buy an annuity, can I afford the risk of a higher payment but no inflation proofing?

6. What should I do with my tax-free lump sum entitlement?

8. Can I protect any of my pension for my children or grandchildren?

10. If I don’t buy an annuity, what happens if I change my mind?

Unless you are an expert in the fields of pension rules, the tax system and financial planning, you really should speak to someone who is, as this is the stage of life where the most value can be found from paying for professional advice.

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