Most personal pension providers do their best to make your pension fund grow over the years leading up to your retirement and many of them are quite good at it but, when you come to retire they will write to you and offer choices as to how you would prefer to take your pension.

Your problem then is to decide what to do but, even though it is a big decision to make, there can be little guidance and help available. It is likely that what you decide will be fixed for the rest of your life regardless of changing circumstances.

It could be the case that you have several pensions, each offering a small pension but if you could combine them, you might be able to secure a much better pension income.

It might also be that you have enough in your pension fund to take a more flexible approach to how you utilise it in retirement and be able to adapt to changing circumstances.

Talk to one of our Pension Specialists and they will assess your situation and put themselves ‘in your shoes’ so as to help you to decide how to maximise your retirement income.