Retirement and investment options

Retirement options

At retirement you have three options (or a combination)

Pensions get in lane

1. Cash – you could take your entire pension savings as a cash lump sum (with 25% tax free and the remainder taxed as income)

2. Secured Income (Annuity) - you could take a cash lump sum of 25% (tax free) and use the remaining pension pot to purchase a regular income that provides you with the type of income you want for the rest of your life.

3. Flexible Income (Drawdown) – you could take a cash lump sum of 25% (tax free) and use the remaining pension savings to provide an annual taxable income – which you could vary from year to year.

Don’t worry, when you decide to retire our retirement adviser will help you choose the option that works for you.

Investment options

We also have investments to match the retirement option you choose, these are called:
1.Retirement Cash Fund
2.Retirement Secured Income Fund
3.Retirement Flexible Income Fund

The Trustee has decided that the Retirement Cash Fund will be the investment that members will be automatically invested in, if you do not make a choice.

If you require any further information or wish to change please go to the BlackRock online facility