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Taking an income from your pension

After taking any lump sum, there are a number of ways to take an income from your money purchase pension. Some, such as an unsecured pension or phased retirement, may only be suitable if you have a large pension fund or other substantial assets and you are prepared to take some risks with your pension fund to get greater flexibility and a higher return.

The options include:

  • a lifetime annuity;
  • an unsecured pension; and
  • phased retirement.