A pension is a long-term investment. Its value can go down as well as up and could be worth less than was paid in. Laws and tax rules may change in the future. Your own circumstances and where you live in the UK also have an impact on tax treatment.

Preparing for retirement

Retiring is a big decision. Even if this initially means cutting back rather than cutting out work altogether. You’ll have different options when it comes to taking your money. We want you to find the best deal for you with your retirement savings. So we've created these guides to help you understand your options so you can make the right choices for you.

  • What is retirement?

    A guide to retirement basics. When you can retire, what your options might be, when you can claim the State Pension.

  • Saving for retirement

    See why saving for retirement makes sense. How tax relief can help you, how much you might need when you retire and how you could increase the value of your pension pot.

  • Getting ready for retirement

    Are you ready to retire? Do you understand your retirement options, tax and your State Pension? Get up to speed with our guide.

  • Ways to take your money

    Look at the ways you can take money from your pension pot. Think about which option is right for you.

  • Managing your money in retirement

    Once you start taking money from your pension pot you still need to keep an eye on your money to make sure it lasts for as long as you need it to, and you’re not paying too much tax.

  • Reclaiming tax

    If you take money from your pension pot you might be able to claim some tax back. Find out how to do this.

  • Tax in retirement

    After years of growing your pension savings, you don’t want to pay more tax than you have to. Be smart and use our guide to understand tax on pensions.

  • Lump Sum Allowances

    These are limits on the total tax-free lump sum benefits that can be paid from all your pensions during your lifetime and on death.

  • Passing on wealth tax-efficiently

    Pensions can be a good way of passing wealth to the people you care about most, after you die.

More help with retirement

Explore all the ways we can help you with your retirement money. Explore your options and research your choices.

  • Our retirement options

    See what kind of options, support and services we can offer.

  • Retirement tools & calculators

    Use our tools to find out what you might need and what you might get from your pension.

  • MoneyHelper

    If you're over 50 you can get free impartial guidance from Pension Wise, a service from MoneyHelper.

     

    Visit the MoneyHelper website or call 0800 138 3944.