Results
These examples give you an idea of the income our retirement products might provide. They assume you take the maximum 25% tax-free cash sum available but you can choose to take less. The results are examples only and aren't advice. The actual income you can get will depend on your individual circumstances.
Guaranteed income for the rest of your life
Pension Annuity
- Can pay higher income for health conditions and lifestyle risks.
- Can provide an income for your spouse, civil partner or beneficiary after you die.
- Can’t change your options once the plan has started.
The figure above shows the gross income before any tax is deducted.
Guaranteed income for a set period and lump sum at the end
Fixed Term Retirement Plan
- You decide the amount of income and lump sum.
- Option to make withdrawals from lump sum or cash in whole plan.
- Higher income not available for health conditions and lifestyle risks.
The figures above show the gross income and lump sum before any tax is deducted. You are able to change the term and lump sum selected above.
Guaranteed income for a set period
Cash-Out Retirement Plan
- You decide the amount of income and how long it's paid.
- Option to cash in whole plan.
- Higher income not available for health conditions and lifestyle risks.
The figure above shows the gross income before any tax is deducted. You are able to change the term selected above.
Flexible income you can take when you want, it’s not guaranteed
Personal Pension Drawdown
- You decide the amount of income and when it’s paid
- The value of your pension can go up or down and you could get back less than you paid in
- Income isn't guaranteed, you could run out of money
The 'Annual income' figure shows the amount before any tax has been deducted. You can change it using the drop-down – the more you take, the less time your money will last. You can see the effect of three different rates of return on the size of your pot by using the 'Investment return' drop-down.
Take it all as cash
The below includes the 25% tax free amount
- Take whole pension pot in one go.
- You could pay more tax than other options.
- Money might not last as long as you need.
Understanding your retirement income options
Our retirement agents are on hand to answer your retirement income related queries. Click here to organise a free, no obligation call back.
Next steps
Now that you've been given a helpful estimate of your potential retirement income, why not look at other products available as part of your shopping around. Other providers may have more appropriate products or be able to offer a higher level of income.

Need help?
Making decisions about how to finance your retirement is important so it’s worth making use of the guidance and advice services available:
Retirement guidance

Pension wise
The Government’s impartial retirement guidance will help you avoid the risks and think about what’s right for you.
Speak with us
Our colleagues in Cardiff are always happy to help with your questions or to help you apply for a quote.
0800 048 2446
Monday to Friday
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Understanding your pension options
Our retirement agents are on hand to answer your retirement income related queries.
If you’re looking for financial advice, you can connect to an independent financial adviser in your area through Unbiased.