Retirement planning

Our retirement planning section is the place to find out more about topics such as continuing to work whilst taking a pension, reducing hours in the build up to retirement and also ill health retirement. You can also find out more about buying an annuity.

PREPARING FOR RETIREMENT

What qualifies for ill health retirement?

Find out what drawdown fees your pension provider may charge you when you access your pension, including administration and withdrawal fees.

What is pension liberation?

Pension liberation is a scam where people offer you access to your pension before you turn 55, which is the legal age you can access most pensions. Scammers may advertise this service as a form of early pension release or ‘pension unlocking’.

Reducing working hours prior to retirement

Many people over 50 are easing into retirement by continuing to work with reduced hours rather than stopping work all-together. This approach brings plenty of lifestyle benefits, but there are still practical and financial implications to consider.


MANAGING YOUR RETIREMENT

Can I take my pension at 55 and still work?

In the UK, you can continue to work while receiving income from your pension. However, accessing your pension early will leave it with less chance to grow and could result in a pension that’s unable to last your full retirement.

When should you buy an annuity?

Some or all of your pension can be used to buy an annuity when you retire. This can guarantee a fixed income for a set period or the rest of your life. Like pensions, annuities often pay out more if you’re older when you start one.

How much tax will I pay on my pension if I’m still working?

The amount of tax you’re required to pay each year is calculated based on your total taxable annual income.


Your pension in one place. PensionBee combines all your pensions into a single, good value online plan. Get started. Capital at Risk. Your pension in one place. PensionBee combines all your pensions into a single, good value online plan. Get started. Capital at Risk. Your pension in one place. PensionBee combines all your pensions into a single, good value online plan. Get started. Capital at Risk.

Your pension in one place

PensionBee combines all your pensions into a single, good value online plan.

Get started

Capital at Risk

Have a question? Call our UK team 020 3457 8444

Have a question?

Call our UK team

020 3457 8444

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Monday-Wednesday 9:30am-6pm
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