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If youre aged 55 or over, you can access your pension savings whenever you feel the time is right. You can buy an annuity, dip in with pension drawdown or take it all as a cash lump sum.
Once you docHub your 55th birthday you can withdraw all of your pension fund. You can take up to 25% as a lump sum without paying tax, and will be charged at your usual rate for any subsequent withdrawals. You can use all of the money to buy an annuity, which will pay out a guaranteed income for the rest of your life.
Youll need to have your plan number to hand. You can find it in your welcome pack or in your most recent benefit statement. You may have also received an access code from us.
The app that helps you explore your future Literally. You can use our app to explore different outlooks based on your investment approach as well as contributions youve made, or money youve taken out.
As the business grew, the decision was made in 1908 to convert from a Friendly Society to a Mutual, and weve remained that way ever since.
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People also ask

Pension loans are legally allowed in many cases, but plan sponsors determine whether theyre allowed. If your employer does allow loans, it will likely be limited to a percentage of the balance up to a fixed amount.
Download our app from the App Store or Google Play, and log in using your online service details. If youve not already registered you can sign up for online service on our app - just have your plan number handy.
Pension Portfolio lets you move your clients seamlessly into drawdown from within the same plan. We call this Income Release. 15,000 in their Core Investments. Well typically pay tax-free cash into your clients bank account within 5 working days.
Got a pension with us? Check out our mobile app. If youve taken out a pension plan with Royal London since 2004 or previously with Scottish Life, you can download our mobile app to view your pension plan whenever you like. For full details on eligibility and more about the app visit our mobile app page.
AJ Bell: Best personal pension provider for small pension pots. AJ Bell represent one of the best value pensions available in the UK market. For smaller pots their fees start at just 0.25% and the fund dealing costs come in at only 1.50.

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